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There are 4 articles on this stock available only to PRO subscribers.
at CNBC.com (Feb 26, 2014)
GlobeNewswire (Feb 26, 2014)
GlobeNewswire (Feb 25, 2014)
Eagle Rock Announces Fourth Quarter 2013 Cash Distribution, Operational Update and Earnings Release DateGlobeNewswire (Jan 27, 2014)
at CNBC.com (Oct 10, 2012)
at CNBC.com (Aug 13, 2012)
at CNBC.com (Dec 7, 2011)
at MarketWatch.com (Apr 13, 2011)
EROC vs. ETF Alternatives
Wednesday, Apr 236:42 PM
Wednesday, Apr 236:42 PM| 2 Comments
- Eagle Rock Energy Partners (EROC) says it is suspending distributions in advance of closing the sale of its midstream business to Regency Energy Partners (RGP).
- EROC says the FTC's request for additional information concerning the midstream sale has extended its original timeframe for closing the transaction and created the need to preserve greater liquidity in the interim to fund growth capex and other financial obligations.
- EROC expects Q1 higher distributable cash flow than in Q4 2013, but says it may need to amend its credit facility if the sale does not close by the close of Q2.
Friday, Feb 289:59 AM
Friday, Feb 289:59 AM| Comment!
- Eagle Rock Energy Partners (EROC -4.1%) and Regency Energy Partners (RGP -1.2%) say the Federal Trade Commission is requesting additional information regarding EROC's sale of its midstream business to RGP.
- The second request extends the waiting period during which the parties may not close the transaction until 30 days after certifying compliance.
Tuesday, Jan 288:08 AM|Tuesday, Jan 288:08 AM| Comment!
Tuesday, Dec 312013, 2:49 PM
Tuesday, Dec 312013, 2:49 PM| Comment!
- Eagle Rock Energy Partners (EROC +3.3%) is higher after disclosing it entered into a multi-year agreement with Phillips 66 (PSX +2.7%) to deliver and sell monthly quantities of natural gas liquids at its Sunray gas plant.
- The price paid to EROC will be determined by reference to an agreed upon index, less agreed upon gathering, transportation and fractionation fees and any potentially applicable deficiency fee.
Thursday, Dec 262013, 9:08 AM
Thursday, Dec 262013, 9:08 AM| Comment!
- Eagle Rock Energy Partners (EROC) shoot higher in early action after Raymond James upgrades shares.
- The company is commanding a higher valuation as it's now evaluated as a "pure play E&P concern," notes SA contributor Bret Jensen.
- EROC is +5.7% premarket and is now +22% since announcing its asset sale.
Thursday, Dec 262013, 7:18 AM|Thursday, Dec 262013, 7:18 AM| Comment!
Tuesday, Dec 242013, 11:41 AM
Tuesday, Dec 242013, 11:41 AM| 1 Comment
- Wells Fargo weighs in on Eagle Rock Energy's (EROC +6.4%) $1.3B midstream asset sale to Regency Energy, upgrading shares to Outperform from Market Perform with a $7-$8 price target, up from $6-$8.
- Even after yesterday's 12.5% rise, EROC's upside potential from the transaction is not yet fully reflected in the current valuation, since the asset sale de-risks its business, analyst Praneeth Satish writes.
- Wells sees several favorable results from the deal, such as elimination of near-term equity needs, utilizing its under-levered balance sheet to make accretive upstream asset acquisitions, and visible 5% average annual growth over the next three years.
- The asset sale "transforms EROC into a pure-play upstream MLP, which implies further upside potential based on EROC’s current valuation vs. the peer group."
Monday, Dec 232013, 6:39 PM
Monday, Dec 232013, 6:39 PM| 4 Comments
- Investors love Eagle Rock's (EROC) plan to sell ~$1.3B of Texas Panhandle pipeline assets to Regency Energy Partners (RGP); it's "a great Christmas present for EROC unitholders," Robert Baird analyst Ethan Bellamy says.
- With increased capital and lower debt, EROC expects to be much more focused on mergers and acquisitions next year, CEO Joseph Mills said in a conference call.
- Meanwhile, RGP expects the deal will be accretive to cash flow and will recommend a 6%-8% increase in distributions this year.
- Energy Transfer Equity (ETE) plans to support RGP - which is part of the Energy Transfer family of MLPs - by committing to purchase $400M RGP units as part of the deal, and is the "real ultimate winner" of RGP's expansion and expectations for additional cash flow, the Baird analyst says.
- In today's trading, EROC finished +12.5%, RGP +7.7%, ETE +1.3%, ETP +2.4%.
Monday, Dec 232013, 9:10 AM
Monday, Dec 232013, 8:31 AM
Monday, Dec 232013, 8:31 AM| Comment!
- Regency Energy Partners (RGP) agrees to acquire Eagle Rock Energy Partners' (EROC) midstream business in a deal valued at $1.325B.
- RGP says the deal will complement its core gathering and processing business, and when combined with the proposed acquisition of PVR Resources, will further diversify its basin exposure in the Texas Panhandle, east Texas and south Texas.
- EROC's midstream assets include ~8,100 miles of gathering pipeline and more than 800M cf/day of processing plants, and cash flows are supported by large, long-term acreage dedications.
- Due to the expected cash flow accretion from the transaction, RGP anticipates distribution increases of 6%-8% for FY 2014.
- RGP +3.1% premarket.
Wednesday, Oct 302013, 7:35 PM|Wednesday, Oct 302013, 7:35 PM| Comment!
Tuesday, Oct 292013, 12:45 PM|Tuesday, Oct 292013, 12:45 PM| 2 Comments
Tuesday, Oct 292013, 9:12 AM
Monday, Oct 282013, 6:36 PM
Monday, Oct 282013, 6:36 PM| Comment!
- Eagle Rock Energy (EROC) -2% AH after announcing a 32% decrease in its quarterly distribution, to $0.15/unit in Q3 from $0.22.
- EROC expects to report Q3 adjusted EBITDA of ~$62.8M, a 12% Y/Y increase, and says the lower distribution level coupled with an anticipated growing distribution coverage over the next several quarters will allow it to redirect some of its cash from operations toward debt repayment in the near term.
Monday, Jul 82013, 2:35 PMEagle Rock Energy Partners (EROC +0.6%) says it successfully started its 60M cf/day Wheeler cryogenic processing plant in Texas, which provides EROC in excess of 500M cf/day of high efficiency cryogenic processing capacity serving the Granite Wash play. The construction of the facilities, associated gathering and pipelines cost ~$65M. |Monday, Jul 82013, 2:35 PM| Comment!
Thursday, May 22013, 5:56 AM
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