Hints and tips:
...Aaron Milford, chief executive of Magellan Midstream Partners, said that the “opportunity to invest and grow” as a company focused on crude oil and refined products, such as petrol and jet fuel, had become...
...US pipeline giant Oneok is set to buy Magellan Midstream Partners for $18.8bn, creating one of the biggest oil and gas infrastructure companies in North America as consolidation in the hydrocarbon business...
...Energy Transfer’s growth has already been boosted by acquisitions: it announced the purchase of Permian Basin operator Lotus Midstream for $1.5bn in March, and in 2021 it snapped up Enable Midstream Partners...
...The latest deal was the $18.8bn sale of pipeline company Magellan Midstream Partners to rival Oneok this week....
...Now scarcity has thrown a spotlight on their value, intensified by Oneok’s recommended offer for Magellan Midstream Partners at an enterprise value of $18.8bn....
...For pipeline builders — the so-called midstream part of the industry — the peak shale era brought its own wealth of opportunities....
...For example, Magellan Midstream, an energy MLP, last year paid out only about 71 per cent of its cash flows as dividends....
...Loadings of crude by rail fell to about 115,000 b/d soon after Dakota Access entered service in 2017 but have since surpassed 300,000 b/d, said Ryan Saxton, director of midstream oil at Genscape....
...ICE’s contract is delivered at Houston terminals owned by Magellan Midstream Partners, whose specifications allow oil with a wider gravity band of 36-44 degrees and a sulphur cap of 0.45 per cent....
...Shares of EQT rose 3 per cent in pre-market trading and Rice Midstream Partners advanced 4 per cent....
...The comments by the chiefs of Energy Transfer Partners, Kinder Morgan and TransCanada underscored how a tactic of addressing climate change by blocking new infrastructure has rattled a midstream energy industry...
...Its first public move was in EQT, a US energy group, where it lobbied the company to split its production and midstream businesses....
...The structure of the offer made by Enterprise Products, the largest US midstream pipeline company by market value, could not be learned but the people added that it remains interested in a deal for Williams...
...The numbers were made to add up by selling the Sunoco retail business to its affiliate Sunoco LP for $2.2bn, and by issuing units worth $1.1bn....
...Minorities may also take issue with Husky’s assertion that it “set a high bar” in its search for partners that shared its objectives....
...In a case in Delaware bankruptcy court, producer Quicksilver Resources has sought to reject gas-gathering contracts with Crestwood Midstream Partners....
...On the BridgeTex crude oil pipeline in Texas, co-owned by Plains and Magellan Midstream Partners, the companies have told analysts one customer will probably fail to meet its commitments....
...And because KMI is a bellwether in the North American midstream sector, the recent declines of its stock and bond prices are reverberating through its peer group, as evidenced by the Alerian MLP Index falling...
...So-called “midstream” companies like Kinder Morgan, which build and operate thousands of miles of pipelines, like to think of themselves as “toll collectors”, immune from cratering oil and natural gas prices...
...Further reading: In Re: El Paso Pipeline Partners, LP Derivative Litigation...
...The two corners at the base are Williams LP and Access Midstream LP, two energy infrastructure MLPs....
...She said Trafigura would still have commercial rights to the splitter under the terms of the deal with Buckeye, as well as another splitter that Magellan Midstream Partners is constructing in Corpus Christi...
...Partners rose 21 per cent to $40.56....
...Martin Midstream Partners, an oil logistics company, recently halved the size of a planned splitter in the port of Corpus Christi, Texas, to 50,000 b/d....
...Among the midstream MLPs, the median maintenance CapEx as a % of DD&A was 24% in 2013 (see FIGURE 1). How convenient!...
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