Martin Midstream Partners L.P.NASDAQ
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  • Thu, Oct. 20, 4:37 PM
    • Martin Midstream Partners (NASDAQ:MMLP) agrees to sell its 900K-barrel Corpus Christi crude oil storage terminal and related assets to NuStar Logistics (NYSE:NS) for $107M, confirming an earlier report.
    • At the same time, MMLP says it is reducing its quarterly dividend to $0.50/unit, a 38.5% reduction from $0.8125/unit in Q2.
    • MMLP says the asset sale is a necessary first step to ultimately returning the company to a growth trajectory, and that the two actions "should provide a sound catalyst to reducing our currently elevated cost of capital by de-levering and improving increased distribution coverage to our unitholders."
    | Thu, Oct. 20, 4:37 PM | 27 Comments
  • Aug. 11, 2014, 8:19 AM
    • Martin Midstream Partners (NASDAQ:MMLP) agrees to acquire controlling membership interests in Cardinal Gas Storage Partners from Energy Capital Partners for $120M.
    • MMLP expects the deal to be accretive to annual distributions by at least $0.15/unit by end of 2015, and plans to recommend a quarterly distribution increase of at least $0.02/unit payable in Q4 2014.
    • Cardinal is involved in the development, construction, operation and management of four natural gas storage facilities in Louisiana and Mississippi totaling ~50B cf.
    | Aug. 11, 2014, 8:19 AM
  • Jan. 3, 2013, 3:58 PM

    Martin Midstream Partners (MMLP +1.6%) this morning acquired all outstanding membership interests in Talen's Marine & Fuel in a deal valued at ~$47M. MMLP purchased the Talen's membership interests from various subsidiaries of Quintana Energy Partners.

    | Jan. 3, 2013, 3:58 PM
  • Jun. 19, 2012, 8:27 AM

    CenterPoint Energy (CNP) agrees to acquire gathering and processing assets from Martin Midstream Partners (MMLP), including a 50% interest in Waskom Gas Processing, for ~$275M, and enters a 15-year agreement with Encana (ECA) to gather and treat natural gas from two East Texas fields.

    | Jun. 19, 2012, 8:27 AM | 1 Comment