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Enterprise Declares Quarterly Distribution

Retrieved on:

Friday, April 5, 2024

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the first quarter of 2024 of $0.515 per unit, or $2.06 per unit on an annualized basis.

Key Points:

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the first quarter of 2024 of $0.515 per unit, or $2.06 per unit on an annualized basis.
The quarterly distribution will be paid Tuesday, May 14, 2024, to common unitholders of record as of the close of business Tuesday, April 30, 2024.
This distribution represents a 5.1 percent increase over the distribution declared with respect to the first quarter of 2023.
Enterprise repurchased $40 million of its common units in the open market during the first quarter of 2024.

NGL Energy Partners LP Announces Sale of the New Mexico Ranches

Retrieved on:

Friday, April 5, 2024

Energy, Other Energy, Oil, Gas, Eagle Ford, Dallas, NGL, LEX, Delaware Basin, Sale, Environment, EVP

NGL Energy Partners LP (NYSE:NGL) (“NGL,” or the “Partnership”) announced today that it has completed the sale of its North and South Ranches.

Key Points:

NGL Energy Partners LP (NYSE:NGL) (“NGL,” or the “Partnership”) announced today that it has completed the sale of its North and South Ranches.
These two New Mexico ranches have combined acreage of approximately 122,250 acres, in the core of the Delaware.
Approximately $70.0 million in proceeds, including working capital
Including asset sales in FY24, we have exceeded the $150 million asset sale guidance
“NGL remains focused on our commitment to deliver reliable produced water management for our customers while remaining focused on the environment and the sustainability of our operations,” commented Doug White, EVP of NGL Water Solutions.
NGL’s Water Solutions segment operates in several of the most prolific crude oil and natural gas producing basins, including the Delaware, Eagle Ford and DJ Basins.

Pembina Pipeline Corporation Announces Significant Milestones Achieved on Cedar LNG

Retrieved on:

Thursday, April 4, 2024

In addition, Pembina has executed an identical bridging agreement with Cedar LNG for 1.5 mpta.

Key Points:

In addition, Pembina has executed an identical bridging agreement with Cedar LNG for 1.5 mpta.
Cedar LNG has secured a 20-year take-or-pay, fixed toll contract with ARC Resources for 1.5 million mtpa of LNG.
"We are proud to partner with Cedar LNG, the Haisla Nation and Pembina Pipeline who share our commitment to responsible energy development."
Once operational, Cedar LNG is expected to generate annual run-rate adjusted EBITDA of US$200 million to US$260 million, net to Pembina.

Energy Transfer Announces First Quarter 2024 Earnings Release and Earnings Call Timing

Retrieved on:

Thursday, April 4, 2024

Energy, Other Energy, Oil, Gas, Transfer, Partnership, USAC, NGL, Energy Transfer Partners, Sunoco, Transport, SUN

Energy Transfer LP (NYSE: ET) today announced that it plans to release earnings for the first quarter of 2024 on Wednesday, May 8, 2024, after the market closes.

Key Points:

Energy Transfer LP (NYSE: ET) today announced that it plans to release earnings for the first quarter of 2024 on Wednesday, May 8, 2024, after the market closes.
The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer’s website at energytransfer.com .
The call will also be available for replay on Energy Transfer’s website for a limited time.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 125,000 miles of pipeline and associated energy infrastructure.

NGL Energy Partners LP Announces Cash Distribution of 55.4% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units

Retrieved on:

Thursday, April 4, 2024

Energy, Other Energy, Oil, Gas, Partnership, NGL, Class, Balance sheet, ABL, Class D, Life insurance

NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner approved a distribution of 55.4% of the outstanding arrearages for the quarter ending March 31, 2024 to be paid to the holders of the Partnership’s 12.544% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class B Preferred Units”) and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class C Preferred Units”) in accordance with the terms outlined in NGL’s partnership agreement.

Key Points:

NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner approved a distribution of 55.4% of the outstanding arrearages for the quarter ending March 31, 2024 to be paid to the holders of the Partnership’s 12.544% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class B Preferred Units”) and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class C Preferred Units”) in accordance with the terms outlined in NGL’s partnership agreement.
Each of the Class B Preferred Units quarterly distribution of $3.0224 per unit and the Class C Preferred Units quarterly distribution of $2.6790 per unit will be made on April 18, 2024 to holders of record at the close of trading on April 12, 2024.
Additionally, the Board of Directors declared a cash distribution in the amount of $77,140,426, which represents the 55.4% of the outstanding arrearages on the Class D preferred units as of March 31, 2024.
The arrearage payment on the Class D Preferred units will be made on April 18, 2024.

Enterprise to Build New Natural Gas Processing Plant in the Delaware Basin; Announces Start of Service on Mentone 3 and Leonidas

Retrieved on:

Wednesday, April 3, 2024

Oil, Gas, Energy, Permian, Partner, Natural gas, Growth, Transport, Security (finance), Risk, Plant, EPD, NGL, Atlas, Delaware Basin

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced plans to further expand its natural gas processing capabilities in the Permian Basin with construction of the Mentone West 2 plant in the Delaware Basin.

Key Points:

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced plans to further expand its natural gas processing capabilities in the Permian Basin with construction of the Mentone West 2 plant in the Delaware Basin.
Elsewhere in the Delaware Basin, Enterprise has begun service on its Mentone 3 natural gas processing plant, which is also capable of processing over 300 MMcf/d of natural gas and extracting more than 40,000 BPD of NGLs.
Construction of the Mentone West 1 plant, formerly known as Mentone 4, is on schedule and projected to begin service in the second half of 2025.
In the Midland Basin, Enterprise announced today that the company’s Leonidas natural gas processing plant in Midland County, Texas has begun service, and construction of the Orion natural gas processing facility is proceeding on schedule with service expected to begin in the second half of 2025.

Enterprise to Host Investor and Analyst Call

Retrieved on:

Monday, April 1, 2024

Chemicals, Plastics, Other Energy, Maritime, Oil, Gas, Transport, Manufacturing, Energy, Partner, NGL, CDT, Internet, Atlas, Natural gas, EPD, Enterprise Products

Enterprise Products Partners L.P. (NYSE: EPD) announced today that it will host an investor and securities analyst call on Wednesday, April 3, 2024 at 9:00 a.m. CDT.

Key Points:

Enterprise Products Partners L.P. (NYSE: EPD) announced today that it will host an investor and securities analyst call on Wednesday, April 3, 2024 at 9:00 a.m. CDT.
The event will be webcast live via the internet and may be accessed along with accompanying slides on Enterprise’s website at www.enterpriseproducts.com .
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
The partnership’s assets currently include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.

Empire Petroleum Announces Results for Fourth Quarter and Full Year 2023

Retrieved on:

Monday, April 1, 2024

Oil, Gas, Energy, Permian, Natural gas, Growth, G&A, AGU, LOE, NGL, Atlas, DD, Anticipation, Consultant, Economics

Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana today announced operational and financial results for the fourth quarter and full year of 2023, including year-end 2023 proved reserves.

Key Points:

Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana today announced operational and financial results for the fourth quarter and full year of 2023, including year-end 2023 proved reserves.
Mike Morrisett, President and Chief Executive Officer of Empire, commented, “We are committed to executing on our targeted plan for developing our unique asset base.
We see significant potential given our top-notch group of technical professionals led by the oversight of Phil Mulacek.
Bottom line, we are looking at 2024 to be a real turning point for Empire.

Energy Transfer LP Announces Full Redemption Of Series E Preferred Units

Retrieved on:

Wednesday, March 20, 2024

Oil, Gas, Energy, Transfer, Partnership, USAC, NGL, Energy Transfer Partners, Sunoco, SUN, Transport

Energy Transfer LP (NYSE: ET) today issued a notice to redeem all of its outstanding Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Units”) on May 15, 2024 at a redemption price per Unit of $25.00.

Key Points:

Energy Transfer LP (NYSE: ET) today issued a notice to redeem all of its outstanding Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Units”) on May 15, 2024 at a redemption price per Unit of $25.00.
Holders of Units as of May 1, 2024, the record date for quarterly distributions on the Units, will separately receive accrued distributions to, but excluding, May 15, 2024, in an amount of $0.4750 per Unit.
Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 125,000 miles of pipeline and associated energy infrastructure.
Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and approximately 34% of the outstanding common units of Sunoco LP (NYSE: SUN), and the general partner interests and approximately 45% of the outstanding common units of USA Compression Partners, LP (NYSE: USAC).

Enterprise 2023 Schedule K-1 Tax Packages Now Available

Retrieved on:

Tuesday, March 12, 2024

Enterprise Products Partners L.P. (NYSE: EPD) announced today that its 2023 tax packages, including schedule K-1s, are now available online.

Key Points:

Enterprise Products Partners L.P. (NYSE: EPD) announced today that its 2023 tax packages, including schedule K-1s, are now available online.
Information reported on these tax packages could be subject to change given potential retroactive changes in tax law that are still being considered by Congress and the Biden administration.
The 2023 tax packages may be accessed through the K-1 Tax Package Support website, www.
The partnership expects to begin mailing the 2023 tax packages Wednesday, March 13, 2024 and complete mailing by Thursday, March 21, 2024.