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Stock Market & Financial Investment News

News Breaks
December 20, 2012
14:39 EDTTLP, KMPTransmontaigne Partners acquires ownership interest in BOSTCO project
TransMontaigne Partners (TLP) announced that effective December 20, it acquired a 42.5% ownership interest for approximately $79M in Battleground Oil Specialty Terminal Company (BOSTCO), which is developing a new black oil terminal facility on the Houston Ship Channel for handling residual fuel, feedstocks, distillates and other black oils. In connection with its acquisition, TLP has committed to make its pro rata share of the future capital contributions required to complete the initial phase of the BOSTCO project. The initial phase of the BOSTCO project, which is supported by long term contracts with customers, involves construction of 50 storage tanks with approximately 6.1M barrels of storage capacity at an estimated cost of approximately $425M. The BOSTCO facility's docks will benefit from one of the deepest vessel drafts and nearest access points in the Houston Ship Channel and will be well positioned to capitalize on increasing exports of petroleum related products. Our investment in BOSTCO was funded with cash on hand and borrowings under our amended and restated senior secured credit facility provided by a syndicate of banks. In connection with our investment in BOSTCO, our credit facility was amended to increase the maximum revolving credit amount from $250M-$350M. The BOSTCO facility is scheduled to begin initial commercial operation in the fourth quarter of 2013. Completion of the full 6.1M barrels of storage capacity and related infrastructure is scheduled for early 2014. A subsidiary of Kinder Morgan Energy Partners, L.P. (KMP) will manage the day to day operations of the BOSTCO project.
News For TLP;KMP From The Last 14 Days
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October 24, 2014
10:03 EDTKMPOn The Fly: Analyst Downgrade Summary
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07:50 EDTKMPKinder Morgan Energy downgraded to Hold from Buy at Argus
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07:34 EDTKMPNEB prevents City of Burnaby from blocking Trans Mountain
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October 21, 2014
07:26 EDTKMPKinder Morgan pipeline faces opposition from native tribes, Reuters says
Kinder Morgan's plans for a Canadian pipeline expansion worth $4.8B is now up against lawsuits from indigenous communities who are aiming to use the courts to hinder the proposed oil pipeline, according to Reuters, citing comments from Grand Chief of the Union of British Columbia Indian Chiefs Stewart Phillip. Reference Link
October 20, 2014
16:39 EDTTLPTransmontaigne Partners CEO Dunlap to retire, Frederick Boutin to succeed
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October 15, 2014
16:15 EDTKMPKinder Morgan Energy increases quarterly dividend to $1.40 from $1.39
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16:13 EDTKMPKinder Morgan now sees exceeding published annual budget dividend of $1.72
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15:28 EDTKMPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.36; eBay (EBAY), consensus 67c; Kinder Morgan (KMI), consensus 34c; Kinder Morgan Energy Partners (KMP), consensus 64c; Kinder Morgan Management (KMR), consensus 58c; El Paso Pipeline Partners (EPB), consensus 39c; Netflix (NFLX), consensus 93c; United Rentals (URI), consensus $2.08; Navient (NAVI), consensus 52c; Las Vegas Sands (LVS), consensus 58c; Umpqua Holdings (UMPQ), consensus 29c; Astoria Financial (AF), consensus 16c; Rambus (RMBS), consensus 5c.
October 14, 2014
16:53 EDTKMPTennessee Gas Pipeline closes open season for South System Flexibility Project
Kinder Morgan Energy Partners (KMP) announced that KMP’s Tennessee Gas Pipeline Company, or TGP, successfully closed a binding open season for its South System Flexibility Project for 500,000 dekatherms per day of capacity. MexGas Supply, formerly known as MGI Supply, the natural gas supply arm of Petróleos Mexicanos, has been awarded 100% of the project capacity. Anticipated project capital is $187M, with service beginning as early as Jan. 1, 2015. In addition, TGP initiated a binding open season Oct. 9 for its proposed Lone Star expansion project, which includes an incremental 300,000 Dth/d of firm transportation from Tennessee to South Texas for future infrastructure projects. TGP has secured an unnamed foundation shipper for this project and will announce the results and further details upon the close of the open season, which is scheduled for Oct. 31. The volumes committed are sufficient to justify building the project. The general partner of KMP is owned by Kinder Morgan (KMI). KMI owns the general partner interests of KMP and El Paso Pipeline Partners (EPB), along with limited partner interests in KMP, Kinder Morgan Management (KMR) and EPB.
15:13 EDTKMPKinder Morgan Energy announces $240M investment in expansion terminals
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