Buckeye Partners Lp. (BPL) - NYSE
  • Sep. 2, 2014, 4:37 PM
    • Buckeye Partners (NYSE:BPL) agrees to acquire an 80% interest in a Corpus Christi terminal complex and associated Eagle Ford assets in south Texas from Trafigura for $860M.
    • BPL will own and operate a vertically integrated system of midstream assets including a deepwater, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter and liquefied petroleum gas storage complex in Corpus Christi, and three crude oil and condensate gathering facilities in the Eagle Ford shale.
    • The assets are supported by 7- to 10-year minimum volume throughput, storage and tolling agreements with Trafigura.
    • BPL expects the deal to be "highly accretive" to distributable cash flow per limited partner unit in 2016 and beyond.
    • To help fund the deal, BPL says it has launched a public offering of 5.5M limited partnership units.
    • BPL -1.7% AH.
    | Sep. 2, 2014, 4:37 PM
  • Jul. 29, 2014, 8:44 AM
    • Buckeye Partners (NYSE:BPL) agrees to sell all outstanding limited liability company interests in Lodi Gas Storage to Brookfield Infrastructure (NYSE:BIP) and its institutional partners for $105M.
    • Lodi owns a natural gas storage facility in Northern California.
    • The deal is subject to approval by California's utilities regulator.
    | Jul. 29, 2014, 8:44 AM | 8 Comments
Company Description
Buckeye Partners LP is a master limited partnership that provides mid-stream energy logistics services. The company owns and operates petroleum products common carrier pipeline networks providing refiners, wholesalers, marketers, airlines, railroads and other commercial end-users with... More
Industry: Oil & Gas Pipelines
Country: United States