Yesterday, 9:19 AM
- Enterprise Products Partners (NYSE:EPD) agrees to acquire general partner and limited partner interests in Oiltanking Partners (NYSE:OILT) for $2.21B in cash and ~54.8M EPD common units for total consideration of ~$4.41B; EPD will own ~66% of OILT common units.
- Oiltanking Holding Americas is selling its 64.7% limited partner interest in OILT, represented by ~15.9M common units and ~38.9M subordinated units in the partnership, as well as its 2% general partner interest and related incentive distribution rights, to EPD.
- In a second step, EPD makes a takeover proposal for OILT through a unit exchange totaling another ~$1.4B.
- OILT owns marine terminals on the Houston Ship Channel and the Port of Beaumont with a total of 12 ship and barge docks and ~24M barrels of crude oil and petroleum products storage capacity on the Texas Gulf coast.
- EPD +1.5%, OILT +8.6% premarket.
Wed, Aug. 6, 4:42 PM| Comment!
Wed, Aug. 6, 3:19 PM
- Blueknight Energy (NASDAQ:BKEP) announces plans to build a new 160-mile pipeline linking the east Texas Eaglebine/Woodbine crude oil resource play to Oiltanking Partners' (NYSE:OILT) crude oil and product terminal on the Houston Ship Channel.
- The $300M pipeline will have an initial capacity of 100K bbl/day, expandable up to 200K bbl/day, and is backed by long-term shipper commitments.
- Midstream firms haven’t built new pipeline systems in the area in years, but oil producers have been moving back; much of the oil is now stranded in the Eaglebine, surrounded by smaller pipelines systems that were in service decades ago.
Wed, Jun. 11, 5:43 PM
- Oiltanking Partners (OILT) announces plans for a ~$340M expansion project to construct new crude storage, pipelines and dock infrastructure at its terminal in Beaumont, Tex.
- The multi-phase crude expansion will have a total capacity of up to 6.2M barrels of storage; OILT says the initial phase of the project is fully supported by customer commitments.
- As much as 3M bbl/day of crude could flow to the Beaumont/Port Arthur market once various pipeline projects are in service, driving strong demand for additional storage, pipeline connectivity and deep water access.
Wed, May. 28, 10:29 AM
- Oiltanking Partners' (OILT +2.5%) board authorizes a two-for-one split of common and subordinated units for unitholders of record at the close of business on July 7.
- Before the announcement, MLV downgraded OILT to Hold from Buy on valuation after rising ~50% YTD; the firm believes the market has priced in potential catalysts of participation in Enterprise Products' ethane export project, expansion at Beaumont, and a dropdown of assets at Texas City (Briefing.com).
Wed, Apr. 30, 4:37 PM| Comment!
Fri, Mar. 7, 12:11 PM
- Two energy investors presenting at Capital Link's MLP stress the desirability of crude oil and natural gas liquids over natural gas, and the importance of geographic diversity in suggesting six MLPs to buy now.
- Kyri Loupis, head of energy and infrastructure at Goldman Sachs, likes Oiltanking Partners (OILT), Lehigh Gas Partners (LGP) and EQT Midstream Partners (EQM) - smaller MLPs with strong growth prospects, healthy balance sheets and small distribution obligations to general partners.
- Dan Spears, a portfolio manager at Swank Capital, prefers larger pipeline players Access Midstream Partners (ACMP), Energy Transfer Equity (ETE) and NGL Energy Partners (NGL).
Thu, Mar. 6, 4:40 PM
- SemGroup (SEMG) and Rose Rock Midstream (RRMS) announce that Carlin Conner has been named President and CEO of both companies, effective April 1.
- Conner is chairman of Oiltanking Partners (OILT) and was president and CEO of OILT's general partner until November after spending 13 years at the company.
Tue, Mar. 4, 5:50 PM| Comment!
Mon, Feb. 24, 4:19 PM| Comment!
Mon, Feb. 24, 12:10 AM
Sun, Feb. 23, 5:35 PM
Tue, Jan. 7, 8:28 AM
- Enterprise Products Partners (EPD) announces a further expansion of its liquefied petroleum gas export terminal at Oiltanking's complex on the Houston Ship Channel, supported by a 50-year service agreement with Oiltanking Partners (OILT) to provide additional dock space and related services.
- Upon expected completion of the expanded facilities by year-end 2015, EPD will have aggregate capacity to load more than 16M bbl/month of low-ethane propane and/or butane.
- The expansion is in lieu of a second LPG terminal announced in Oct. 2013 and will result in more capacity than previously anticipated.
Nov. 19, 2013, 9:10 AM| Comment!
Nov. 6, 2013, 4:29 PM| Comment!
Nov. 6, 2013, 12:10 AM
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OILT vs. ETF Alternatives
Oiltanking Partners LP engages in terminaling, storage & transportation of crude oil, refined petroleum products & liquefied petroleum gas. It provides services to integrated oil companies, distributors, marketers & chemical and petrochemical companies.
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