Tue, Jun. 21, 2:58 PM
- Delek Logistics (DKL +2.9%) and Archrock Partners (APLP +10%) are upgraded to Buy from Neutral at Goldman Sachs with respective price targets of $32 and $14, citing attractive relative valuation and upside growth opportunity.
- However, the firm downgrades USA Compression (USAC +0.1%) to Sell from Neutral with a $13 price target, saying the company's high leverage brings risk of a distribution cut.
- Goldman says the calls are part of its more confident medium-term view on U.S. oil and gas production, which will boost utilization rates, but the firm remains uncertain about the near-term outlook, taking into account overcapacity and new market entrants.
Tue, Jun. 21, 2:05 PM
Mon, Jun. 13, 2:05 PM
Jul. 24, 2015, 3:19 PM
- Exterran Holdings (EXH -10.1%) plunges 10% to 52-week lows after withdrawing a $400M high-yield offering and delaying a related spinoff of its fabrication and international services business, blaming current market conditions.
- The selloff in crude oil has effectively closed the door of the bond market for much of the energy sector, Reuters reports.
- BTIG downgrades shares to Neutral from Buy on the news, as the failure of execution makes it much less likely that EXH will complete the spinout in 2015 and possibly beyond; the firm considered the spin important to ts previous Buy recommendation as a means for the company to unlock trapped value.
Apr. 20, 2015, 9:59 AM
- Exterran Partners (EXLP +2.2%) agrees to acquire assets, including customer contracts serving 60 customers and 244 compressor units used to provide compression services under those contracts, from Exterran Holdings (EXH +2.8%) in an all-stock transaction valued at ~$102M.
- The compressor units represent ~151K HP of compression and ~4% of the combined U.S. contract operations business of EXLP and EXH.
- The acquisition also includes 179 compressor units comprising 66K HP leased from EXH to EXLP.
Nov. 17, 2014, 8:18 AM
- Exterran Holdings (NYSE:EXH) +2.7% premarket on news it will spin off its international and fabrication businesses into a new publicly traded company.
- EXH will become a pure-play U.S. compression services business, with a 37% ownership interest in Exterran Partners (NASDAQ:EXLP), and all incentive distribution rights; it will retain the remaining U.S. contract operations and aftermarket business.
- EXH expects the new, separate company to have more financial flexibility, an expanded product customer base and more opportunity for cash flow generation, with the remaining company maintaining stable cash flow and more efficient return for shareholders.
Jul. 21, 2014, 10:34 AM
- TETRA Technologies (TTI +4.8%) agrees to acquire Compressor Systems, owner of the fourth-largest U.S. gas compression fleet, for $825M.
- The deal could make TTI affiliate Compressco Partners (NASDAQ:GSJK), a relatively young player in the growing U.S. market for pumping gas from aging wells, a rival to Exterran Partners (EXLP, EXH) and other large U.S. compressors, in terms of energy pumping horsepower.
- TTI says the deal will increase Compressco's total horsepower offering from ~187K to 1M-plus, and allow Compressco to utilize an expanded range of compressor packages (from 20 HP units to 2,370 HP units) for compression services to customers.
Mar. 28, 2014, 9:12 AM
Mar. 27, 2014, 4:40 PM
Apr. 26, 2013, 3:57 PMCredit Suisse upgrades EQT Midstream Partners (EQM +4.7%) to Outperform after issuing Q1 results well ahead of the firm's expectations and increasing its FY 2013 guidance on EBITDA and distribution cash flow, and cuts Exterran Partners (EXLP) and DCP Midstream (DPM) on valuation (I, II). EQM is enjoying higher throughput on its assets as Marcellus shale activity remains robust. | Apr. 26, 2013, 3:57 PM
Jun. 12, 2012, 10:34 AMAtlas Pipeline (APL +4%) trades higher on news that the partnership will be added to the Alerian MLP Index following the close of business on June 15; Alliance Holdings (AHGP -3.6%), Niska Gas Storage Partners (NKA -4.4%) and Exterran Partners (EXLP -6.2%) will be removed. | Jun. 12, 2012, 10:34 AM | 2 Comments
Feb. 29, 2012, 9:14 AM
Aug. 1, 2011, 2:46 PM
Exterran (EXLP +2.9%) shares hold on to gains after declaring an increased Q2 cash distribution on Friday of $0.4825 per limited partner unit, The payment represents a 4% increase Y/Y.| Aug. 1, 2011, 2:46 PM
Archrock Partners LP provides natural gas compression services. It operates its business together with its subsidiaries. The company's services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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