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Thu, Jan. 22, 4:59 PM
Oct. 29, 2014, 4:51 PM
Sep. 23, 2014, 4:47 PM
- Martin Midstream Partners (NASDAQ:MMLP) -4.5% AH after announcing it has launched a public offering of 3M common units under its existing shelf registration statement, with an underwriters option to purchase another 450K units.
- MMLP says it plans to use the proceeds to pay down debt and for general partnership purposes.
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.
Jul. 30, 2014, 5:29 PM
May 5, 2014, 4:43 PM
- Martin Midstream Partners (MMLP) agrees to acquire Atlas Pipeline (APL) subsidiaries that own a 20% stake in West Texas LPG Limited Partnership for $135M; Chevron (CVX) will continue to own the remaining 80%.
- West Texas LPG owns a 2,300-mile pipeline system originating in the Permian Basin continuing across north and east Texas with delivery to Mont Belvieu, Tex., for fractionation, with long-haul capacity of 240K bbl/day and volumes that have been at or near capacity since 2011.
- MMLP will fund the deal through a public offering of 3.6M common units.
Apr. 11, 2014, 11:46 AM
- The port of Corpus Christi, Tex., near the Eagle Ford oil fields of south Texas, is undergoing its biggest expansion in years as energy companies add docks so they can ship more crude to other U.S. ports and perhaps eventually to foreign ports.
- Pipeline company NuStar Energy (NS) officially opened a third ship dock at the port, doubling its loading capacity to 400K bbl/day and enabling NS to handle Panamax-class vessels, which can carry 350K-500K barrels, at loading rates of up to 30K bbl/hour.
- Other companies expanding or improving their Corpus Christi docks to move more Eagle Ford crude include Trafigura, Magellan Midstream Partners (MMP), Plains All American (PAA) and Martin Midstream Partners (MMLP).
Feb. 26, 2014, 5:03 PM
Jan. 7, 2014, 6:58 PM
- Emerging Wall Street consensus is that the MLP sector may have seen its best days, and the MLP analyst team at Merrill Lynch cautions in a new report that volatility may lurk in the sector.
- While Merrill believes the triple threat of increasing interest rates, volatile commodity pricing and overall MLP equity supply may combine to produce a choppy year, the firm upgrades three top names to buy to add to four top picks for 2014.
- The top four: Energy Transfer Partners (ETP), whose distributable cash flow as of Sept. 30 totaled $2.3B vs. $1.3B a year earlier; MarkWest Energy (MWE), who will be able to process 3.7B cf/day in the Marcellus shale within a few years; Plains All American (PAA), a top name to buy at most Wall Street firms; and Western Refining Logistics (WNRL), which has not yet paid a distribution.
- Upgraded to Buy: GLP, MMLP, TLLP.
- ETFs: AMJ, AMLP, MLPG, MLPI, MLPN, MLPY, MLPL, MLPW, MLPS, YMLP, MLPA, EMLP, AMU, IMLP, MLPJ, ATMP, YMLI.
Oct. 31, 2013, 6:53 AM
MMLP vs. ETF Alternatives
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