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Oct. 19, 2015, 8:58 AM
- Spectra Energy (NYSE:SE) agrees to acquire Spectra Energy Partners' (NYSE:SEP) one-third ownership interests in the Sand Hills and Southern Hills natural gas liquids pipelines in exchange for redemption and cancellation of 21.56M limited partner units and 440K general partner units.
- SE also says it has executed an agreement with Phillips 66 (NYSE:PSX) and DCP Midstream (NYSE:DPM), under which it will contribute its interests in the Sand Hills and Southern Hills pipelines and Phillips 66 will contribute $1.5B, respectively, to DPM; DPM is the 50-50 joint venture between SE and PSX.
Jul. 13, 2015, 6:57 PM
- U.S. midstream MLPs rallied today following the news that MarkWest Energy (NYSE:MWE) was acquired by MPLX (NYSE:MPLX), as the deal is seen as a validation of the long-term demand potential for U.S. natural gas liquids infrastructure despite current depressed prices.
- Among today's gainers in the group: GEL +3.7%, DPM +3.3%, OKS +2.6%, NGLS +2.5%.
- SunTrust's Tristan Richardson believes the deal is particularly bullish for Enterprise Products Partners (NYSE:EPD), since speaks to the long term potential for the NGL market and the buildout of NGL infrastructure to new sources of market demand, where EPD is a leader with significant organic growth opportunities.
- MPLX fell 14.5% today, as investors worry that adding a nat gas company to MPLX, which had been growing rapidly, could hurt growth and add more volatility to earnings; however, many analysts believe the deal is a safe bet for MPLX because the company is diversifying its sources of income to help it survive the ups and downs of the commodity cycles.
Jul. 15, 2014, 7:58 AM
- American Midstream Partners (NYSE:AMID) agrees to acquire entities holding onshore natural gas processing and offshore natural gas gathering and transportation and oil gathering assets from DCP Midstream (NYSE:DPM) for $115M.
- The assets to be acquired include the Mobile Bay gas processing plant, Dauphin Island gathering and transmission system, and DCPs interest in the Main Pass Oil Gathering System, which AMID says collectively provide strong cash flow visibility and a growing, high-quality customer base.
- To fund the deal, AMID plans to sell $200M of its common units in a private placement.
Jun. 19, 2012, 9:09 AM
DCP Midstream Partners LP along with its subsidiaries is engaged gathering, compressing, treating, processing, transporting, storing and selling natural gas; NGLs and condensate; and transporting, storing and selling propane in wholesale markets.
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