COST: 850 $MM
VOLUMES: 70 Bcf
COST: 300 $MM
VOLUMES: 70 M Bbls/d
COST: 128 $MM
VOLUMES: 33 Percent
COST: 1.438 $B
COST: 250 $MM
COST: 133 $MM
VOLUMES: 150 M Bbls/d
COST: 70 $MM
VOLUMES: 60 M Bbls/d
COST: 42.5 $MM
VOLUMES: 80 Bbls/d
TULSA, Okla., Feb. 4, 2020 /PRNewswire/ -- Saddlehorn Pipeline Company, LLC ("Saddlehorn") announced today that Black Diamond Gathering LLC ("Black Diamond"), through its majority owner Noble Midstream Partners LP (NASDAQ: NBLX) ("NBLX"), has purchased a 20% membership interest in Saddlehorn for $155 million effective Feb. 1, 2020. As previously announced, an option had been granted to Black Diamond in conjunction with recent volume commitments to the pipeline.
The Saddlehorn pipeline is currently capable of transporting 190,000 barrels per day ("bpd") of crude oil and condensate from the DJ and Powder River Basins to storage facilities in Cushing, Oklahoma. Supported by increased volume commitments from shippers, the pipeline's capacity is being increased by 100,000 bpd to a new total capacity of approximately 290,000 bpd, providing shippers enhanced access to market. The higher capacity is expected to be available in late 2020 following the capital-efficient addition of incremental pumping and storage capabilities.
The Saddlehorn pipeline was previously owned jointly by affiliates of Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan"), Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") and Western Midstream Partners, LP (NYSE: WES) ("WES"). After Black Diamond's purchase, with Magellan and Plains each selling a 10% interest, Magellan and Plains each own a 30% membership interest and Black Diamond and WES each own a 20% membership interest in Saddlehorn. Magellan continues to serve as operator of the Saddlehorn pipeline.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL") and natural gas. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles more than 6 million bpd of crude oil and NGL in its Transportation segment. Plains is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
About Western Midstream Partners, LP
Western Midstream Partners, LP (NYSE: WES) is a Delaware master limited partnership formed to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, NGLs and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs and condensate on behalf of itself and as agent for its customers under certain of its contracts. More information is available at www.westernmidstream.com.
About Black Diamond Gathering LLC
Black Diamond is a joint venture between Noble Midstream Partners LP (NASDAQ: NBLX) and Greenfield Midstream. NBLX owns 54.4% of Black Diamond and Greenfield Midstream owns the remaining 45.6%. NBLX operates Black Diamond, which includes a large-scale integrated crude oil gathering system in the DJ Basin, consisting of approximately 240 miles of pipeline in operation, 300,000 bpd delivery capacity and 390,000 bpd crude oil storage capacity. The system is connected to every major takeaway pipeline in the DJ Basin, including the White Cliffs Pipeline, the Saddlehorn Pipeline, the Grand Mesa Pipeline and the Pony Express Pipeline. NBLX and Greenfield Midstream jointly provide commercial efforts to bring additional producer dedications to Black Diamond Gathering and pursue expansion opportunities.
Except for statements of historical fact, the information in this news release constitutes forward-looking statements as defined by federal law. Although the statements are based on reasonable assumptions, such forward-looking statements necessarily involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different. Important factors that could lead to material changes in performance include the risk and uncertainties discussed in filings with the Securities and Exchange Commission by Magellan, NBLX, Plains and WES. This news release speaks only as of the date issued, and the companies undertake no obligation to update any forward-looking statements because of new information, future events or any other factors.
Contact Information:
Magellan: | Paula Farrell, Investor Relations Bruce Heine, Media Relations | (918) 574-7650 (918) 574-7010 | |
Plains: | Brett Magill, Investor Relations Brad Leone, Media Relations | (866) 809-1291 (866) 809-1290 | |
WES: | Kristen Shults, Investor Relations Abby Dempsey, Investor Relations | (832) 636-6000 (832) 636-6000 | |
Black Diamond: | Park Carrere, Investor Relations Casey Nikoloric, Investor Relations | (281) 872-3208 (303) 433-4397 | |
View original content:http://www.prnewswire.com/news-releases/saddlehorn-pipeline-welcomes-additional-owner-300998600.html
SOURCE Magellan Midstream Partners, L.P.
TULSA, Okla., Aug. 29, 2019 /PRNewswire/ -- Saddlehorn Pipeline Company, LLC ("Saddlehorn") announced today a further expansion of the Saddlehorn pipeline. Following a successful open season during July and subsequent increased volume commitments from shippers, the pipeline's capacity will be increased by a total of 100,000 barrels per day ("bpd") to a new total capacity of approximately 290,000 bpd. The higher capacity is expected to be available in late 2020 following the addition of incremental pumping and storage capabilities.
The Saddlehorn pipeline, which is jointly owned by affiliates of Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan"), Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") and Western Midstream Partners, LP (NYSE: WES) ("WES"), is currently capable of transporting 190,000 bpd of crude oil and condensate from the DJ and Powder River Basins to storage facilities in Cushing, Oklahoma owned by Magellan and Plains. Magellan serves as operator of the Saddlehorn pipeline.
In conjunction with the increased volume commitments, Noble Midstream Partners LP (NYSE: NBLX) ("NBLX"), through its affiliate Black Diamond Gathering LLC, has an option to buy up to a 20% ownership interest in Saddlehorn, with Magellan and Plains each selling up to a 10% interest to NBLX if the option were exercised.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL") and natural gas. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles more than 6 million barrels per day of crude oil and NGL in its Transportation segment. Plains is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
About Western Midstream Partners, LP
Western Midstream Partners, LP (NYSE: WES) is a Delaware master limited partnership formed to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, NGLs and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs and condensate on behalf of itself and as agent for its customers under certain of its contracts. More information is available at www.westernmidstream.com.
This press release includes certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. Important risks, uncertainties and other factors that could affect future results or outcomes are discussed in filings with the Securities and Exchange Commission by Magellan, Plains and WES. The companies undertake no obligation to update or revise any forward-looking statement to reflect new information or events occurring after today's date.
Contact Information:
Magellan: | Paula Farrell, Investor Relations Bruce Heine, Media Relations | (918) 574-7650 (918) 574-7010 | |
Plains: | Roy Lamoreaux, Investor Relations Brad Leone, Media Relations | (866) 809-1291 (866) 809-1290 | |
WES: | Jack Spinks, Investor Relations | (832) 636-6000 |
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SOURCE Magellan Midstream Partners, L.P.
DALLAS, Aug. 9, 2019 /PRNewswire/ -- Alerian reported, as of June 28, 2019, total products directly tied to and tracking the Alerian indices was $13.7 billion.
Exchange traded funds, exchange traded notes, return of capital notes, and variable insurance portfolios represent $12.7 billion of the total $13.7 billion. Below is a list of energy master limited partnership (MLP) positions, as of June 28, 2019, in the $12.7 billion of such assets tracking Alerian's indices.
Ticker | Exposure in Alerian Linked-Products ($) | Exposure in Alerian Linked-Products (Units) | Ticker | Exposure in Alerian Linked-Products ($) | Exposure in Alerian Linked-Products (Units) | |
AM | 2,402,831 | 209,671 | HESM | 7,694,422 | 394,586 | |
AMID | 4,919,211 | 951,492 | MMLP | 5,598,671 | 784,128 | |
ANDX | 403,075,523 | 11,094,840 | MMP | 1,276,581,260 | 19,946,582 | |
BPL | 782,332,474 | 19,058,038 | MPLX | 1,273,711,451 | 39,568,545 | |
BPMP | 18,205,543 | 1,176,069 | NBLX | 89,522,800 | 2,691,606 | |
CEQP | 220,495,699 | 6,164,263 | NGL | 214,053,630 | 14,492,460 | |
CNXM | 14,513,491 | 1,032,989 | NS | 331,580,260 | 12,217,401 | |
CQP | 214,074,794 | 5,075,268 | OMP | 5,663,726 | 263,429 | |
DCP | 329,731,673 | 11,253,641 | PAA | 1,305,749,277 | 53,624,200 | |
DKL | 6,791,101 | 212,222 | PAGP | 7,638,294 | 305,899 | |
ENBL | 153,164,680 | 11,171,749 | PBFX | 16,284,545 | 770,319 | |
ENLC | 327,210,823 | 32,429,219 | PSXP | 342,743,828 | 6,945,164 | |
EPD | 1,277,755,891 | 44,258,950 | SHLX | 319,209,192 | 15,405,849 | |
EQM | 462,044,829 | 10,341,200 | SMLP | 7,589,588 | 1,020,106 | |
ET | 1,262,122,882 | 89,639,409 | TCP | 253,540,259 | 6,739,507 | |
GEL | 298,090,775 | 13,611,451 | TGE | 419,509,147 | 19,872,532 | |
GPP | 3,882,098 | 277,293 | USDP | 3,861,679 | 342,044 | |
HEP | 156,422,759 | 5,688,100 | WES | 773,416,245 | 25,135,400 |
About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of June 28, 2019, nearly $14 billion of products, including exchange traded funds and notes, are directly tied to and tracking the Alerian Index Series. Visit alerian.com to learn more.
View original content:http://www.prnewswire.com/news-releases/alerian-reports-june-30-2019-index-linked-product-positions-300899499.html
SOURCE Alerian
DALLAS, July 5, 2019 /PRNewswire/ -- Cushing® Asset Management, LP, and Swank Capital, LLC, announce today the upcoming rebalancing of The Cushing® MLP High Income Index (the "Index") as part of normal index operations. After the markets close on July 12, 2019, the 30 constituents of the Index will be rebalanced, and the following changes will become effective on July 15, 2019:
Constituents added:
Black Stone Minerals, L.P. (NYSE: BSM)
NuStar Energy L.P. (NYSE: NS)
TC PipeLines, LP (NYSE: TCP)
Constituents removed:
Plains All American Pipeline, L.P. (NYSE: PAA)
Plains GP Holdings, L.P. (NYSE: PAGP)
Enterprise Products Partners, L.P. (NYSE: EPD)
ABOUT THE CUSHING® MLP HIGH INCOME INDEX
The Cushing® MLP High Income Index provides a benchmark that is designed to track the performance of 30 higher-yielding publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" an collectively, "Midstream Companies"). Constituents are chosen according to a three-tiered proprietary weighting system developed by Cushing® Asset Management, LP. The Cushing® MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".
ABOUT CUSHING® ASSET MANAGEMENT AND SWANK CAPITAL
Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of Midstream Companies and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
For additional information contact:
Brian Atwood
214-692-6334
http://www.cushingasset.com
The Cushing® MLP High Income Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing® Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing® Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones S&P nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
CUSH-MLPY
View original content:http://www.prnewswire.com/news-releases/cushing-asset-management-and-swank-capital-announce-rebalancing-of-the-cushing-mlp-high-income-index-300880015.html
SOURCE Cushing Asset Management, LP; Swank Capital, LLC
TULSA, Okla., July 1, 2019 /PRNewswire/ -- Saddlehorn Pipeline Company, LLC ("Saddlehorn") announced today a capital-efficient expansion of the Saddlehorn pipeline and a new Ft. Laramie, Wyoming origin. In connection with these enhancements, Saddlehorn has launched an open season to solicit long-term commitments for capacity on the pipeline system. Interested customers must submit binding commitments by 12:00 p.m. Central Time on July 31, 2019.
The Saddlehorn pipeline, which is jointly owned by affiliates of Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan"), Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") and Western Midstream Partners, LP (NYSE: WES) ("WES"), is currently capable of transporting approximately 190,000 barrels per day ("bpd") of crude oil and condensate from the DJ and Powder River Basins to storage facilities in Cushing, Oklahoma owned by Magellan and Plains. Magellan serves as operator of the Saddlehorn pipeline.
The expansion will increase the pipeline's capacity by up to 100,000 bpd, to a new total capacity of 290,000 bpd. The higher capacity is expected to be available in late 2020 following the addition of incremental pumping and storage capabilities. Saddlehorn will add the new Ft. Laramie origin by leasing capacity on third-party pipelines.
For customer inquiries or additional information about the Saddlehorn open season, please contact Matt Gooding of Magellan at (918) 574-7838 or matt.gooding@magellanlp.com. More information about the open season is available at https://www.magellanlp.com/WhatWeDo/LiquidPipelineTariffs.aspx.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL") and natural gas. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles more than 6 million barrels per day of crude oil and NGL in its Transportation segment. Plains is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
About Western Midstream Partners, LP
Western Midstream Partners, LP (NYSE: WES) is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, NGLs and crude oil; and gathering and disposing of produced water for Anadarko, as well as for third-party customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs and condensate on behalf of itself and as agent for its customers under certain of its contracts. More information is available at www.westernmidstream.com.
This press release includes certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. Important risks, uncertainties and other factors that could affect future results or outcomes are discussed in filings with the Securities and Exchange Commission by Magellan, Plains and WES. The companies undertake no obligation to update or revise any forward-looking statement to reflect new information or events occurring after today's date.
Contact Information:
Magellan: | Paula Farrell, Investor Relations | (918) 574-7650 | |
Bruce Heine, Media Relations | (918) 574-7010 | ||
Plains: | Brett Magill, Investor Relations | (866) 809-1291 | |
Brad Leone, Media Relations | (866) 809-1290 | ||
WES: | Jack Spinks, Investor Relations | (832) 636-6000 |
View original content:http://www.prnewswire.com/news-releases/saddlehorn-pipeline-to-expand-and-add-new-ft-laramie-origin-launches-open-season-300878367.html
SOURCE Magellan Midstream Partners, L.P.; Plains All American Pipeline, L.P.; Western Midstream Partners, LP
DALLAS, Dec. 10, 2018 /PRNewswire/ -- Cushing® Asset Management, LP and Swank Capital, LLC, announce an upcoming interim change to the constituents of The Cushing® 30 MLP Index (the "Index"). On September 17, 2018, Index constituent Enbridge Energy Partners, L.P. (NYSE: EEP) entered into an Agreement and Plan of Merger with its general partner wherein the general partner would acquire EEP, subject to the approval of EEP unitholders. A special meeting of EEP unitholders is scheduled for December 17, 2018, for the purpose of voting on the merger agreement. Per the Index's methodology guide, after the market closes on December 17, 2018, and effective on December 18, 2018, Plains All American Pipeline, L.P. (NYSE: PAA) will replace EEP as a constituent of the Index at EEP's then-current weight.
There will be no changes to the remaining constituents of the Index due to this event.
ABOUT THE CUSHING® 30 MLP INDEX
The Cushing® 30 MLP Index tracks the performance of 30 publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). Constituents of the Index are selected by using a formula-based proprietary valuation model developed by Cushing® Asset Management, LP to rank Midstream Companies for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".
ABOUT CUSHING® ASSET MANAGEMENT AND SWANK CAPITAL
Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of Midstream Companies and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® 30 MLP Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
CUSH-MLPX
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SOURCE Cushing® Asset Management, LP and Swank Capital, LLC
DALLAS, Oct. 11, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim rebalance of The Cushing® MLP Market Cap Index (the "Index"). On August 1, 2018, Index constituents Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) announced a merger agreement wherein ETE would acquire ETP, subject to the approval of ETP unitholders. A special meeting of ETP unitholders is scheduled for October 18, 2018, for the purpose of voting on the merger agreement. Per the Index's methodology guide, after the market closes on October 18, 2018, and effective on October 19, 2018, ETP will be removed as a constituent of the Index.
Because ETP is expected to have a weight in the Index in excess of 3.5% at the time of its removal, per the Index's methodology guide, the Index will be rebalanced and all constituent weightings will be adjusted effective on October 19, 2018, as shown below.
Cushing® MLP Market Cap Index constituents, effective October 19, 2018: | |||
Company Name | Ticker | Index Weight | Status |
Enterprise Products Partners, L.P. | EPD | 7.50% | Existing |
Magellan Midstream Partners, L.P. | MMP | 7.50% | Existing |
The Williams Companies, Inc. | WMB | 7.50% | Existing |
Kinder Morgan, Inc. | KMI | 7.50% | Existing |
ONEOK, Inc. | OKE | 7.50% | Existing |
Cheniere Energy, Inc. | LNG | 7.50% | Existing |
Energy Transfer Equity, L.P. | ETE | 7.07% | Existing |
Targa Resources Corp. | TRGP | 6.59% | Existing |
Plains All American Pipeline, L.P. | PAA | 5.77% | NEW |
MPLX LP | MPLX | 5.30% | Existing |
Buckeye Partners, L.P. | BPL | 2.78% | Existing |
Western Gas Partners, L.P. | WES | 2.43% | Existing |
EQT Midstream Partners, LP | EQM | 2.43% | Existing |
Andeavor Logistics LP | ANDX | 2.25% | Existing |
DCP Midstream, LP | DCP | 2.03% | Existing |
Tallgrass Energy, LP | TGE | 1.89% | Existing |
Plains GP Holdings, L.P. | PAGP | 1.84% | NEW |
EnLink Midstream Partners, LP | ENLK | 1.54% | Existing |
Antero Midstream Partners LP | AM | 1.53% | Existing |
Phillips 66 Partners LP | PSXP | 1.48% | Existing |
AmeriGas Partners, L.P. | APU | 1.44% | Existing |
Shell Midstream Partners, L.P. | SHLX | 1.40% | Existing |
Enbridge Energy Partners, L.P. | EEP | 1.27% | Existing |
Crestwood Equity Partners LP | CEQP | 0.97% | Existing |
Alliance Resource Partners, L.P. | ARLP | 0.94% | Existing |
SemGroup Corporation | SEMG | 0.87% | Existing |
Sunoco LP | SUN | 0.83% | Existing |
Western Gas Equity Partners, LP | WGP | 0.82% | Existing |
Enable Midstream Partners, LP | ENBL | 0.77% | Existing |
Black Stone Minerals, L.P. | BSM | 0.76% | Existing |
Constituents removed, effective October 19, 2018: | |
Company Name | Ticker |
Antero Midstream GP LP | AMGP |
Energy Transfer Partners, L.P. | ETP |
ABOUT THE CUSHING® MLP MARKET CAP INDEX
The Cushing® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded Midstream Companies. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CMCI".
ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT
Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of Midstream Companies and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) ), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
CUSH-CMCI
View original content:http://www.prnewswire.com/news-releases/swank-capital-and-cushing-asset-management-announce-a-rebalance-of-the-cushing-mlp-market-cap-index-300729333.html
SOURCE Cushing® Asset Management, LP; Swank Capital, LLC
DENVER, Aug. 9, 2018 /PRNewswire/ -- The 23rd annual EnerCom conference will deliver the best of the industry to the Denver Downtown Westin Hotel on Aug. 19-22, 2018.
The publicly-traded energy companies at the 2018 EnerCom conference represent a combined enterprise value of more than $275 billion of assets and operations in the U.S. and Canadian shale plays, the Gulf of Mexico, international exploration, plus oilfield service and technology companies.
Conference attendees have a rare opportunity to hear operational and development strategies from several private operators and expert panels that will discuss conventional and unconventional E&P operations, midstream challenges, developing and managing oil and gas operations internationally, and how oil companies can take part in Mexico's energy reform.
Among the private oil companies making presentations at the conference is Anschutz Exploration, a large operator with assets in the Powder River and Washakie Basins of Wyoming, the Piceance and DJ Basins of Colorado and the Unita Basin of Utah.
Other private E&Ps making company presentations include Permian producer Felix Energy and Powder River and Green River Basin operator Samson Resources II.
Panels bring energy industry insight
Private Company Panel
Midstream Panel
Sponsored by Energy Intelligence
Oil & Gas in Mexico Panel
Sponsored by TGS
International Panel
Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.
One-on-One Meetings: EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests. Buyside investors may request meetings on the conference website or contact EnerCom for more information at 303-296-8834.
How to Register: Investment professionals and oil and gas companies can register for the event through the conference website.
2018 Presenting Companies: The Oil & Gas Conference® 2018 presenting companies consist of the following:
Looking at basin and sector, the 2018 EnerCom conference presenting companies and companies participating in panels break out as follows (list is subject to change prior to the conference– please refer to The Oil & Gas Conference website for an updated schedule of presenting companies):
Exploration & Production and Other Energy Companies by Focus Area and Sector
Bakken/Three Forks
Eagle Ford
Permian Basin
Woodford & Other Mid-Continent – SCOOP/STACK
Marcellus/Utica
Niobrara
Gulf of Mexico/Offshore
Haynesville
Enhanced Oil Recovery
Canadian E&Ps
International E&Ps
LNG Export Projects
Oilfield Service Companies
Midstream
Mineral, Royalty, Infrastructure Holders, Acquisition Companies
Private Companies – E&Ps, Midstream, Energy Data and Technology, Energy Capital, Government Energy Agencies
A work-in-progress schedule of the 2018 presenting companies is posted on the conference website and is regularly updated.
Sponsors of The Oil & Gas Conference®
EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest independent energy investment conference in Denver.
Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates.
Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; SMBC; Opportune LLP; Petrie Partners; EnergyNet; McGriff, Seibels & Williams, Inc.; Energy Intelligence; and TGS.
About EnerCom, Inc.
Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design.
EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:
EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.
Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.
EnerCom's upcoming oil and gas investment conferences include:
EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018
EnerCom Dallas – Feb. 27-28, 2019
For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.
About Netherland, Sewell & Associates, Inc.
Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.
For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.
About RS Energy Group
RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.
RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.
Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.
RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.
About Moss Adams LLP
For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.
With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.
For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.
Moss Adams LLP provides details at https://www.mossadams.com/home .
About Preng & Associates
Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.
Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.
For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.
About Bank of America Merrill Lynch
Bank of America Merrill Lynch Oil and Gas Group
The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending. The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.
The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities. BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor.
About AssuredPartners
AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.
Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees. Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.
For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.
About DNB ASA
DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.
Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.
For information on DNB's energy services, please visit the DNB energy website.
About Fifth Third Bancorp
Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.
For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.
About CIBC
CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.
Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.
CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.
About Haynes and Boone
Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.
Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.
For more info, please visit www.haynesboone.com.
About Crédit Agricole Corporate and Investment Bank
Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.
The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.
With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD. Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.
The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.
For more information, visit www.ca-cib.com.
About Natixis
Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.
Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE.
We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services.
Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.
The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).
About PJ SOLOMON
PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.
Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.
The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.
Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.
Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.
About PNC Financial Services Group
PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.
PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.
For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.
About MUFG
Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.
We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management.
For more information, visit: www.mufgamericas.com/oil-gas.
About Wells Fargo & Company
Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.
The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.
The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.
These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.
To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.
About SMBC
Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.
SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.
SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.
For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/
About Opportune LLP
Founded in 2005, Opportune is a leading global energy consulting firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading and oilfield services.
Since we are not an audit firm, we are advocates of our clients and are not subject to the restrictions placed on other firms by regulatory bodies. Using our extensive knowledge of all sectors of the energy industry, we work with clients to provide comprehensive solutions to their operational and financial challenges.
Our practice areas include complex financial reporting, dispute resolution, enterprise risk, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organization, tax, transactional due diligence and valuation. Opportune LLP is not a CPA firm.
Opportune's corporate headquarters are in Houston, Texas. The firm also has offices in Dallas, Denver, New York City, Tulsa, and the UK. For more information please call Ashley Hunt, Marketing Coordinator,
713.490.5050 and visit the web site https://opportune.com/.
About Petrie Partners, LLC
Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.
The firm was formed in 2011 (as Strategic Energy Advisors) by senior bankers formerly with Bank of America Merrill Lynch and Petrie Parkman & Co., an investment bank that built a reputation as a most trusted advisor to energy clients during the nearly two decades leading up to its merger into Merrill Lynch in 2006.
Through tenure with Petrie Parkman, Merrill Lynch and Bank of America Merrill Lynch, the senior members of the Petrie team bring to bear an average of more than 25 years of energy investment banking experience, including over 300 energy M&A and capital raising transactions representing over $350 billion of aggregate consideration.
For information about the firm, please visit www.petrie.com or call the firm's Denver office (303.953.6768) or the Houston office (713.659.0760).
About EnergyNet
EnergyNet is the only continuous oil and gas auction and sealed bid transaction service that facilitates the sale of producing working interests (operated and non-operated), overrides, royalties, mineral interests, and non-producing leasehold. EnergyNet is a continuous oil and gas property marketplace with due diligence and bidding available 24/7/365, where auctions and sealed bid packages close weekly. Most of the properties EnergyNet sells are located in the lower 48 United States and typically range in value from $1,000 to $100,000,000.
Details about how to buy and sell oil and gas properties using the EnergyNet online auction service are available on the website at https://www.energynet.com/.
About McGriff, Seibels & Williams, Inc.
McGriff, Seibels & Williams is one of the most progressive insurance brokerage firms in the United States, leading the way with innovative programs to protect clients' financial interests. Services include construction risk, energy and marine, surety, employee benefits and financial services. McGriff's Energy & Marine Division offers specialty services for clients with worldwide operations and potentially catastrophic exposures. Our expertise in this niche industry has made us one of the largest independent energy brokers in the U.S. and one of the top five energy brokers worldwide.
Our client base includes more than 50 electric/gas utility and merchant energy companies, several coal mining companies, and more than 70 E&P companies. It also includes the Strategic Petroleum Reserve and numerous oilfield service companies, including vessel operators, offshore drilling companies, and international marine construction companies.
We will structure and implement a domestic or foreign program for virtually any type of energy-related risk. We have more than 125 professionals in our energy division. Using alternative risk transfer and traditional insurance solutions, we determine the appropriate combination of coverage and risk assumption.
Please contact the company through the website or by calling 800 476 - 2211.
About Energy Intelligence
Energy Intelligence has been a leading independent provider of objective insight, unbiased analysis and reliable data for over 60 years. With offices in New York, London, Houston, Dubai, Moscow, Washington, Singapore and Brussels, we provide decision-makers with critically important information on issues and events affecting the global energy complex.
Our benchmark Information Services, Petroleum Intelligence Weekly, Oil Daily, Natural Gas Week, World Gas Intelligence and Energy Compass, are produced by highly experienced journalists, and our research reports and advisory services are provided by highly regarded analysts and economists.
Information on Energy Intelligence is available at the company website: https://www.energyintel.com/pages/non-subscriber.aspx
About TGS
TGS was founded in Houston in 1981 and over time built the dominant 2D multi-client data library in the Gulf of Mexico. The company expanded further into North America and West Africa and added a substantial 3D portfolio in the Gulf of Mexico.
Also in 1981, NOPEC was founded in Oslo and began building an industry-leading multi-client 2D database in the North Sea, with additional operations in Australia and the Far East. In 1997, NOPEC went public on the Oslo Stock Exchange. In 1998, the companies merged to form TGS-NOPEC Geophysical Company (TGS), creating a winning combination for investors, customers and employees. Since then, TGS has set the standard for geoscientific data around the world.
Additional information is available at the company website: http://www.tgs.com/about-tgs/company-history/.
View original content:http://www.prnewswire.com/news-releases/us-shale-offshore-latin-american-and-private-oil-and-gas-producers-to-speak-at-enercoms---the-oil--gas-conference---aug-19-22-300694929.html
SOURCE EnerCom, Inc.
DALLAS, Aug. 1, 2018 /PRNewswire/ -- Alerian reported index linked product positions of $15.0 billion as of June 30, 2018. Linked products include exchange-traded funds, exchange-traded notes, return of capital notes, variable insurance portfolios, and mutual funds.
Below is a full list of energy master limited partnership (MLP) positions, as of June 30, 2018, in products linked to the Alerian Index Series.
Ticker |
Exposure in |
Exposure in |
Ticker |
Exposure in |
Exposure in | |
AM |
305,257,484 |
10,340,701 |
HEP |
151,911,915 |
5,375,510 | |
AMGP |
1,164,270 |
61,732 |
MMP |
1,501,453,809 |
21,735,000 | |
ANDX |
446,822,576 |
10,506,056 |
MPLX |
1,162,174,520 |
34,041,433 | |
APU |
58,778,057 |
1,392,185 |
NBLX |
22,166,701 |
434,130 | |
ARLP |
25,591,033 |
1,394,607 |
NGL |
165,162,738 |
13,213,019 | |
BPL |
604,497,037 |
17,197,640 |
NS |
210,933,016 |
9,312,716 | |
BPMP |
20,189,424 |
961,859 |
NSH |
239,822 |
19,340 | |
BWP |
170,678,160 |
14,688,310 |
PAA |
1,177,071,579 |
49,791,522 | |
CEQP |
183,499,246 |
5,779,504 |
PAGP |
3,213,393 |
134,395 | |
CQP |
173,601,824 |
4,828,980 |
PSXP |
318,554,875 |
6,238,834 | |
CVRR |
20,028,626 |
896,135 |
RMP |
147,346,450 |
8,657,253 | |
DCP |
421,401,442 |
10,654,904 |
SEP |
341,382,494 |
9,638,128 | |
DM |
13,475,016 |
990,810 |
SHLX |
322,823,077 |
14,554,692 | |
EEP |
277,227,481 |
25,363,905 |
SMLP |
12,744,536 |
827,567 | |
ENBL |
176,973,526 |
10,343,280 |
SPH |
28,830,596 |
1,227,356 | |
ENLC |
853,859 |
51,906 |
SUN |
27,065,571 |
1,084,358 | |
ENLK |
303,905,691 |
19,568,943 |
TCP |
165,868,659 |
6,391,856 | |
EPD |
1,503,782,388 |
54,347,032 |
TEGP |
386,005,955 |
17,419,041 | |
EQGP |
355,540 |
15,123 |
TGP |
18,444,324 |
1,094,619 | |
EQM |
356,373,011 |
6,907,792 |
USAC |
16,751,289 |
995,323 | |
ETE |
6,023,303 |
349,177 |
VLP |
17,131,051 |
449,988 | |
ETP |
1,481,856,983 |
77,828,623 |
VNOM |
25,953,041 |
813,320 | |
GEL |
281,851,288 |
12,864,048 |
WES |
571,788,034 |
11,816,244 | |
GLOP |
14,609,467 |
612,556 |
WGP |
826,761 |
23,126 | |
GMLP |
15,169,006 |
981,178 |
WPZ |
1,218,967,796 |
30,031,234 | |
HCLP |
18,789,000 |
1,592,288 |
||||
About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of June 30, 2018, over $15 billion is directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. For more information, including index values and constituents, research content, and announcements regarding rebalancings, please visit alerian.com.
View original content:http://www.prnewswire.com/news-releases/alerian-reports-june-30-2018-index-linked-product-positions-300690263.html
SOURCE Alerian
DENVER, July 25, 2018 /PRNewswire/ -- An impressive roster of CEOs across the upstream and oilfield service and technology spectrum will be at the Denver Downtown Westin Hotel Aug. 20, 21 and 22, 2018, to give presentations at EnerCom's The Oil & Gas Conference®.
EnerCom conference E&Ps are producing more than 3.2 million barrels of oil per day. The presenting North American shale E&Ps, other explorers and producers, international E&Ps, and global oilfield service and technology companies represent a combined market value of $203 billion and a combined enterprise value of $252 billion—53% higher than last year.
As to basin and sector, the 2018 EnerCom conference presenting companies break out as follows (list is subject to change prior to conference– please refer to The Oil & Gas Conference website for an updated schedule of presenting companies):
Exploration & Production, Oilfield Service Companies by Focus Area and Sector
Bakken/Three Forks
Eagle Ford
Permian Basin
Woodford & Other Mid-Continent – SCOOP/STACK
Marcellus/Utica
Niobrara
Gulf of Mexico/Offshore
Haynesville
Pinedale – Jonah Field – Uinta Basin
Enhanced Oil Recovery
Canadian E&Ps
International E&Ps
Oilfield Service Companies
Midstream
Mineral, Royalty, Infrastructure Holders, Acquisition Companies
Private Companies – E&Ps, Midstream, Energy Data and Technology Providers, Energy Capital, Government Energy Agencies
A work-in-progress schedule of the 2018 presenting companies is posted on the conference website and will be regularly updated.
Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.
One-on-One Meetings: EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests. Buyside investors may request meetings on the conference website or contact EnerCom for more information at 303-296-8834.
How to Register: Investment professionals and oil and gas companies can register for the event through the conference website.
EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.
Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates. Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; SMBC; Opportune LLP; Petrie Partners; and SunTrust Robinson Humphrey.
About EnerCom, Inc.
Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design.
EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:
EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.
Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.
EnerCom's upcoming oil and gas investment conferences include:
EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018
EnerCom Dallas – Feb. 27-28, 2019
For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.
About Netherland, Sewell & Associates, Inc.
Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.
For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.
About RS Energy Group
RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.
RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.
Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.
RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.
About Moss Adams LLP
For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.
With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.
For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.
Moss Adams LLP provides details at https://www.mossadams.com/home .
About Preng & Associates
Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.
Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.
For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.
About Bank of America Merrill Lynch
Bank of America Merrill Lynch Oil and Gas Group
The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending. The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.
The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities. BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor.
About AssuredPartners
AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.
Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees.
Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.
For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.
About DNB ASA
DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.
Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.
For information on DNB's energy services, please visit the DNB energy website.
About Fifth Third Bancorp
Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.
For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.
About CIBC
CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.
Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.
CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.
About Haynes and Boone
Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.
Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.
For more info, please visit www.haynesboone.com.
About Crédit Agricole Corporate and Investment Bank
Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.
The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.
With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD. Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.
The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.
For more information, visit www.ca-cib.com.
About Natixis
Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.
Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE.
We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services.
Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.
The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).
About PJ SOLOMON
PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.
Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.
The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.
Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.
Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.
About PNC Financial Services Group
PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.
PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.
For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.
About MUFG
Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.
We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management.
For more information, visit: www.mufgamericas.com/oil-gas.
About Wells Fargo & Company
Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.
The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.
The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.
These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.
To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.
About SMBC
Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.
SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.
SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.
For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/
About Opportune LLP
Founded in 2005, Opportune is a leading global energy consulting firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading and oilfield services.
Since we are not an audit firm, we are advocates of our clients and are not subject to the restrictions placed on other firms by regulatory bodies. Using our extensive knowledge of all sectors of the energy industry, we work with clients to provide comprehensive solutions to their operational and financial challenges.
Our practice areas include complex financial reporting, dispute resolution, enterprise risk, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organization, tax, transactional due diligence and valuation. Opportune LLP is not a CPA firm.
Opportune's corporate headquarters are in Houston, Texas. The firm also has offices in Dallas, Denver, New York City, Tulsa, and the UK. For more information please call Ashley Hunt, Marketing Coordinator,
713.490.5050 and visit the web site https://opportune.com/.
About Petrie Partners, LLC
Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.
The firm was formed in 2011 (as Strategic Energy Advisors) by senior bankers formerly with Bank of America Merrill Lynch and Petrie Parkman & Co., an investment bank that built a reputation as a most trusted advisor to energy clients during the nearly two decades leading up to its merger into Merrill Lynch in 2006.
Through tenure with Petrie Parkman, Merrill Lynch and Bank of America Merrill Lynch, the senior members of the Petrie team bring to bear an average of more than 25 years of energy investment banking experience, including over 300 energy M&A and capital raising transactions representing over $350 billion of aggregate consideration.
For information about the firm, please visit www.petrie.com or call the firm's Denver office (303.953.6768) or the Houston office (713.659.0760).
About SunTrust Robinson Humphrey
SunTrust Robinson Humphrey (STRH) is a leading, full-service corporate and investment bank dedicated to helping you successfully manage and grow your company through a comprehensive range of strategic advisory, capital raising, risk management, financing and investment solutions. We also offer a complete array of sales, trading and research services in both fixed income and equity.
Our firm's history dates back to 1894, and through the years we have built a reputation for delivering superior client service and in-depth market and industry expertise. At STRH, we are committed to your success. Our team of experienced professionals works closely with you to understand your unique needs and goals to provide sound, unbiased guidance that draws from the significant resources from across our entire universal banking platform. This collaborative One Team approach is focused solely on partnering with you to secure meaningful value throughout the life cycle of your company.
Our Energy & Power Investment Banking Group provides corporate and investment banking services to domestically headquartered companies in the energy and power sectors. We partner with our clients across the energy value chain to deliver full-service strategic advisory and financing solutions.
For more information please visit https://www.suntrustrh.com/industry-coverage/energy-power .
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SOURCE EnerCom, Inc.
TULSA, Okla., March 6, 2018 /PRNewswire/ -- Velocity Midstream Partners, LLC ("Velocity") announced that it has completed the construction of a 45-mile, 12" crude oil pipeline loop of its existing condensate pipeline through the fairway of the South Central Oklahoma Oil Province ("SCOOP"). The crude oil loop project is supported by expanded commitments from Continental Resources Inc. (NYSE: CLR), an Oklahoma City-based exploration and production company, and CVR Refining, LP (NYSE: CVRR) ("CVR"). Velocity also announced that it has started construction of a 22-mile, 12" crude oil pipeline extension linking the core of the Merge play to its SCOOP pipeline assets. The Merge pipeline will be placed into operation in April 2018. Along with these new pipelines, Velocity also announced the completion of a Joint Tariff agreement with Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") providing storage and segregated, batched crude transportation to PAA's Cushing terminal.
In addition to the new pipeline projects and transportation arrangements, Velocity has acquired 100% ownership of all of the truck unloading terminals along its pipelines and has expanded and added terminals to provide attractive locations for SCOOP and Merge producers. Upon completion of its Merge terminal just west of Tuttle, OK, Velocity will have six unloading terminals operating 24/7 across the two plays with segregated unloading and storage for crude oil and condensate. Velocity is in discussions with producers to construct an additional 15-mile pipeline extension and a new terminal in central Canadian County.
Velocity's system is now comprised of 125 miles of pipeline capable of flowing 250,000 barrels per day, along with 395,000 barrels of storage and 26 truck unloading bays capable of unloading greater than 100,000 barrels per day. The new crude oil pipeline enables producers in the SCOOP and Merge to segregate their heavier crude barrels produced from the Springer, Sycamore, Meramec and Woodford oil formations from the lighter barrels being produced from the Woodford condensate formation. These segregated pipelines allow Velocity to transport different quality "neat barrels" from the wellhead to premium markets, thereby preserving the best possible pricing for its producer clients.
Velocity's crude and condensate pipelines lie through the core of the SCOOP and Merge plays, allowing Velocity to provide cost effective gathering solutions to producers regardless of crude gravity. Velocity's pipeline corridor is within 10 miles of more than 20 active producers controlling over 1,000,000 proved gross acres of stacked pay from the Woodford, Springer, Sycamore and Meramec formations. Velocity has engineered a condensate stabilization facility with plans for construction this spring to insure producers are able to continually meet the RVP specifications of downstream pipelines and Cushing purchasers. Producers interested in more information about Velocity's gathering and transportation services should contact Velocity CEO Rick Wilkerson at 918-574-2323.
"Velocity appreciates the continued support of Continental Resources and is honored to be working with CVR and Plains to deliver strong, reliable markets to our producer clients in the SCOOP and Merge. CVR is a highly successful downstream entity with vast expertise in refining and logistics," said Rick Wilkerson, Velocity's Chief Executive Officer. "Further, Plains is the premier crude oil transportation and terminal operator of barrels destined for Cushing, and we are proud to be partnered with them to provide a complete well-to-market transportation solution. The attractiveness of Woodford, Springer, Meramec and Sycamore crude to Midcontinent refiners like CVR, coupled with the reduction in crude gathering and transportation costs, provides the producers in the SCOOP and Merge with the Midcontinent's preeminent market options."
"As a part of CVR's continued focus on expanding its logistics business, we are pleased with our partnership with Velocity and its ability to complete the fully envisioned crude oil pipeline project," said Dave Lamp, Chief Executive Officer of CVR. "Velocity has a proven track record of developing, constructing, and operating high quality midstream assets and gathering systems."
About Velocity Midstream Partners, LLC: Velocity (www.velocitymidstream.com) is an independent midstream service provider that engineers, constructs and operates crude oil and natural gas gathering and transportation solutions. Velocity was formed in 2008 by Rick Wilkerson and Mike Parker. Chief Operating Officer Van Nguyen joined Velocity in 2010. Velocity owns and operates crude oil and condensate pipelines and terminals throughout the SCOOP and Merge basins. Since its inception, Velocity has been financially supported with capital commitments exceeding $300 million through its long-standing partnership with Energy Spectrum Partners (www. EnergySpectrum.com).
About Plains All American Pipeline, LP: Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL") and natural gas. PAA owns an extensive network of pipeline transportation, terminal, storage and gathering assets in key crude oil and NGL producing basins, in transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 5 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
About Continental Resources, Inc.: Continental Resources (NYSE: CLR) is a top-15 independent oil producer in the Continental U.S. and a leader in America's energy renaissance. Based in Oklahoma City, Continental is the largest leaseholder and the largest producer in the nation's premier oil field, the Bakken play of North Dakota and Montana. The company also has significant positions in Oklahoma, including its SCOOP Woodford, SCOOP Springer and SCOOP Sycamore discoveries and the STACK plays. With a focus on the exploration and production of oil, Continental has unlocked the technology and resources vital to American energy independence and our nation's leadership in the new world oil market. In 2017, the Company will celebrate 50 years of operations.
SOURCE Velocity Midstream Partners, LLC
DALLAS, Feb. 21, 2018 /PRNewswire/ -- Alerian reported index linked product positions of $16.3 billion as of December 31, 2017. Linked products include exchange-traded funds, exchange-traded notes, return of capital notes, variable insurance portfolios, and mutual funds.
Below is a full list of energy master limited partnership (MLP) positions, as of December 31, 2017, in products linked to the Alerian Index Series.
Ticker |
Exposure in |
Exposure in |
Ticker |
Exposure in |
Exposure in | |
AM |
318,072,149 |
10,952,898 |
MMP |
1,644,568,414 |
23,182,526 | |
AMGP |
754,587 |
38,265 |
MPLX |
1,279,929,181 |
36,084,837 | |
ANDX |
516,099,522 |
11,173,404 |
NBLX |
21,404,873 |
428,097 | |
APU |
76,556,528 |
1,655,992 |
NGL |
195,952,022 |
13,946,763 | |
ARLP |
20,166,275 |
1,023,669 |
NS |
296,565,295 |
9,902,013 | |
BPL |
908,164,717 |
18,328,249 |
NSH |
236,356 |
15,055 | |
BWP |
201,509,203 |
15,608,769 |
PAA |
1,085,692,515 |
52,601,382 | |
CEQP |
30,317,020 |
1,175,078 |
PAGP |
3,567,709 |
162,538 | |
CQP |
30,774,953 |
1,038,291 |
PSXP |
303,822,210 |
5,803,672 | |
DCP |
411,714,791 |
11,332,639 |
RMP |
197,598,050 |
9,203,449 | |
DM |
186,044,367 |
6,109,831 |
SEP |
397,826,315 |
10,061,364 | |
EEP |
372,358,764 |
26,962,981 |
SHLX |
369,468,507 |
12,389,957 | |
ENBL |
30,305,242 |
2,131,170 |
SMLP |
20,113,987 |
981,170 | |
ENLC |
1,134,945 |
64,485 |
SPH |
35,347,307 |
1,459,426 | |
ENLK |
317,615,016 |
20,664,607 |
SUN |
36,559,156 |
1,287,294 | |
EPD |
1,672,410,145 |
63,086,011 |
TCP |
350,896,258 |
6,608,216 | |
EQGP |
315,059 |
11,712 |
TEGP |
1,533,669 |
59,583 | |
EQM |
536,502,790 |
7,339,299 |
TEP |
269,478,027 |
5,877,383 | |
ETE |
6,574,648 |
380,918 |
TGP |
26,220,374 |
1,301,259 | |
ETP |
1,669,396,449 |
93,158,284 |
VLP |
23,823,578 |
535,361 | |
GEL |
300,264,393 |
13,434,648 |
VNOM |
20,179,418 |
864,956 | |
GLOP |
17,814,465 |
719,776 |
WES |
604,184,334 |
12,563,617 | |
GMLP |
26,442,305 |
1,159,750 |
WGP |
664,201 |
17,874 | |
HEP |
168,157,229 |
5,175,661 |
WPZ |
1,231,920,496 |
31,766,903 |
About Alerian
Alerian equips investors to make informed decisions about Master Limited Partnerships (MLPs) and energy infrastructure. Its benchmarks, including the flagship Alerian MLP Index (AMZ), are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of December 31, 2017, over $16 billion was directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. For more information, including index values and constituents, research content, and announcements regarding rebalancings, please visit alerian.com.
View original content:http://www.prnewswire.com/news-releases/alerian-reports-december-31-2017-index-linked-product-positions-300602316.html
SOURCE Alerian
TULSA, Okla. and HOUSTON, Nov. 30, 2017 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") announced today that BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan and Plains, plans to further expand the capacity of the BridgeTex pipeline and has launched a supplemental open season to assess customer interest for the expanded capacity. All potential customers must submit binding commitments by 5:00 p.m. Central Time on Dec. 30, 2017.
The BridgeTex pipeline was recently expanded from 300,000 barrels per day ("bpd") to a capacity of 400,000 bpd to deliver Permian Basin crude oil from Midland and Colorado City, Texas to the Houston Gulf Coast area. BridgeTex is expanding the pipeline system again, for a new capacity of approximately 440,000 bpd. The additional 40,000 bpd of capacity is expected to be operational in early 2019.
For customer inquiries about the open season, please contact Brett Hunter of Magellan at (918) 574-7477 or brett.hunter@magellanlp.com.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store approximately 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles over 5 million barrels per day of crude oil and NGL in its Transportation segment. More information is available at www.plainsallamerican.com.
Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. (the "companies") believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Among the key risk factors associated with the project that may have a direct impact on the companies' results of operations and financial condition are: (1) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (2) the ability to complete construction of the project on time and at expected costs; (3) price fluctuations and overall demand for crude oil; (4) changes in the BridgeTex pipeline's tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the companies' abilities to finance capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to the BridgeTex pipeline. Additional information about issues that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission for both companies. The companies undertake no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date.
Contacts: |
||
Magellan: |
Paula Farrell, Investor Relations (918) 574-7650, paula.farrell@magellanlp.com | |
Bruce Heine, Media Relations (918) 574-7010, bruce.heine@magellanlp.com | ||
Plains: |
Brett Magill, Investor Relations (866) 809-1291 | |
Brad Leone, Media Relations (866) 809-1290 |
View original content:http://www.prnewswire.com/news-releases/bridgetex-pipeline-to-further-expand-launches-supplemental-open-season-for-additional-capacity-300564764.html
SOURCE Magellan Midstream Partners, L.P.
SUGAR LAND, Texas and HOUSTON, Nov. 1, 2017 /PRNewswire/ -- CVR Refining, LP (NYSE: CVRR) and Plains All American Pipeline, L.P. (NYSE: PAA) today announced the formation of a 50/50 joint venture, Midway Pipeline, LLC, which has acquired the approximately 100-mile, 16-inch Cushing to Broome pipeline system from Plains. The Cushing to Broome pipeline system connects CVR Refining's Coffeyville, Kansas, refinery, which has a rated capacity of 115,000 barrels per calendar day, to the Cushing, Oklahoma, oil hub. Midway will contract with Plains to continue its role as operator of the pipeline.
In a separate transaction, CVR Refining and Plains announced that CVR Refining has agreed to acquire the Cushing to Ellis crude oil pipeline system from Plains. The approximately 100-mile, 8- and 10-inch pipeline system helps link CVR Refining's 70,000-barrel-per-calendar-day Wynnewood, Oklahoma, refinery to Cushing. The acquisition is expected to close in the 2017 fourth quarter.
"We are excited to expand CVR Refining's logistics operations through our acquisition of the Cushing to Ellis pipeline and the Midway joint venture, which provides CVR Refining 50 percent ownership of the Cushing to Broome pipeline," said Jack Lipinski, chief executive officer of CVR Refining. "These acquisitions ensure long-term access to Cushing-based crude oil for our Coffeyville and Wynnewood refineries, securing our mid-continent edge of sourcing price-advantaged crudes."
"We are pleased to announce the planned asset sale with CVR and to work as partners in the strategic joint venture," stated Willie Chiang, chief operating officer – U.S. of Plains All American Pipeline. "These transactions are part of our previously announced asset divestiture program."
About CVR Refining, LP
Headquartered in Sugar Land, Texas, CVR Refining, LP is an independent downstream energy limited partnership that owns refining and related logistics assets in the Midcontinent United States. CVR Refining's subsidiaries operate a complex full coking medium-sour crude oil refinery with a rated capacity of 115,000 barrels per calendar day (bpcd) in Coffeyville, Kansas, and a complex crude oil refinery with a rated capacity of 70,000 bpcd in Wynnewood, Oklahoma. CVR Refining's subsidiaries also operate and invest in supporting logistics assets, including approximately 340 miles of active owned and leased pipelines, a 65,000 bpcd pipeline owned and operated by a joint venture, approximately 150 crude oil transports, a network of strategically located crude oil gathering tank farms, and approximately 6.4 million barrels of owned and leased crude oil storage capacity.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 5 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
For further information, please contact:
CVR Refining, LP
Investor Contact:
Jay Finks
CVR Refining, LP
(281) 207-3588
IR@CVRRefining.com
Media Relations:
Brandee Stephens
CVR Refining, LP
(281) 207-3516
MediaRelations@CVRRefining.com
Plains All American Pipeline, L.P.
Investor Contact:
Brett Magill
Manager, Investor Relations
(866) 809-1291
Media Contact:
Brad Leone
Director, Communications
(866) 809-1290
View original content with multimedia:http://www.prnewswire.com/news-releases/cvr-refining-and-plains-all-american-pipeline-announce-the-acquisition-of-certain-plains-pipeline-assets-by-cvr-and-formation-of-midway-pipeline-llc-joint-venture-300547111.html
SOURCE CVR Refining, LP
TULSA, Okla., and HOUSTON, July 6, 2017 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") announced today that BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan and Plains, has launched an open season to assess customer interest for expanded capacity and a new origin in Midland, Texas. All potential customers must submit binding commitments by 5:00 p.m. Central Time on Aug. 4, 2017.
The BridgeTex pipeline was recently expanded from 300,000 barrels per day ("bpd") to a capacity of 400,000 bpd to deliver Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area. If warranted by customer demand, BridgeTex may further expand the capacity of the pipeline system up to approximately 440,000 bpd.
For customer inquiries about the open season, please contact JoeBill Rehder of Magellan at (918) 574-7563 or joebill.rehder@magellanlp.com.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store approximately 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles over 4.7 million barrels per day of crude oil and NGL in its Transportation segment. More information is available at www.plainsallamerican.com.
Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. (the "companies") believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Among the key risk factors associated with the project that may have a direct impact on the companies' results of operations and financial condition are: (1) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (2) the ability to complete construction of the project on time and at expected costs; (3) price fluctuations and overall demand for crude oil; (4) changes in the BridgeTex pipeline's tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the companies' abilities to finance capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to the BridgeTex pipeline. Additional information about issues that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission for both companies. The companies undertake no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date.
Contacts:
Magellan: |
Paula Farrell, Investor Relations (918) 574-7650, paula.farrell@magellanlp.com |
Bruce Heine, Media Relations (918) 574-7010, bruce.heine@magellanlp.com | |
Plains: |
Brett Magill, Investor Relations (866) 809-1291 |
Brad Leone, Media Relations (866) 809-1290 |
SOURCE Magellan Midstream Partners, L.P.
TULSA, Okla. and HOUSTON, Jan. 24, 2017 /PRNewswire/ -- BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan Midstream Partners, L.P. (NYSE: MMP) and Plains All American Pipeline, L.P. (NYSE: PAA), announced today that it is expanding the BridgeTex pipeline's current capacity from the Permian Basin of 300,000 barrels per day ("bpd") to a new capacity of approximately 400,000 bpd. The expanded capacity is expected to be available in the second quarter of 2017 following enhancements to existing pumps and related equipment.
The 20-inch BridgeTex pipeline system currently transports Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area. Beginning early in the second quarter of this year, a newly-constructed origin point at Bryan, Texas, which is located 100 miles northwest of Houston, also will begin operations to accept shipments from the Eaglebine region for delivery to Houston.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 95 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles over 4.6 million barrels per day of crude oil and NGL in its Transportation segment. Plains is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. (the "companies") believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Among the key risk factors associated with the project that may have a direct impact on the companies' results of operations and financial condition are: (1) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (2) the ability to complete construction of the project on time and at expected costs; (3) price fluctuations and overall demand for crude oil; (4) changes in the BridgeTex pipeline's tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the companies' abilities to finance capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to the BridgeTex pipeline. Additional information about issues that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission for both companies. The companies undertake no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date.
Contacts: |
||
Magellan: |
Paula Farrell, Investor Relations (918) 574-7650, paula.farrell@magellanlp.com | |
Bruce Heine, Media Relations (918) 574-7010, bruce.heine@magellanlp.com | ||
Plains: |
Ryan Smith, Investor Relations (866) 809-1291 | |
Brad Leone, Media Relations (866) 809-1290 |
SOURCE Magellan Midstream Partners, L.P.
TULSA, Okla. and HOUSTON, Feb. 1, 2016 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") announced today that BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan and Plains, has extended its open season to assess additional customer interest in a new origin in Grimes County, Texas for the BridgeTex pipeline to accept Eaglebine crude oil and condensate shipments. While sufficient commitments have been received to proceed with the project, the extension provides other potential shippers additional time to make commitments. Binding commitments are now due by 5:00 p.m. Central Time on Feb. 15, 2016.
The new origin, to be located approximately 100 miles northwest of Houston, is expected to be operational in mid-2017.
The BridgeTex pipeline currently has a capacity of 300,000 barrels per day ("bpd") to deliver Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area. If warranted by customer demand, BridgeTex will expand the capacity of the pipeline system by approximately 35,000 bpd to provide transportation services from the new Grimes County origin to the Houston Gulf Coast area.
For customer inquiries or additional information about the open season, please contact Mark Daggett of Magellan at (918) 574-7022 or mark.daggett@magellanlp.com.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 95 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. Plains owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, Plains handles over 4.4 million barrels per day of crude oil and NGL in its Transportation segment. Plains is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. (the "companies") believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Among the key risk factors associated with the project that may have a direct impact on the companies' results of operations and financial condition are: (1) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (2) the ability to complete construction of the project on time and at expected costs; (3) price fluctuations and overall demand for crude oil; (4) changes in the BridgeTex pipeline's tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the companies' abilities to finance capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to the BridgeTex pipeline. Additional information about issues that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission for both companies. The companies undertake no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date.
Contacts: | |
Magellan: |
Paula Farrell, Investor Relations (918) 574-7650, paula.farrell@magellanlp.com |
Bruce Heine, Media Relations (918) 574-7010, bruce.heine@magellanlp.com | |
Plains: |
Ryan Smith, Investor Relations (866) 809-1291 |
Brad Leone, Media Relations (866) 809-1290 |
SOURCE Magellan Midstream Partners, L.P.; Plains All American Pipeline, L.P.
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