NGL

Sunoco and Energy Transfer Sign First Joint Multi-Year Partnership With Stake F1 Team KICK Sauber

Retrieved on: 
Friday, February 23, 2024
Motor Sports, Sports, General Sports, Licensing (Sports), Automotive, Other Energy, Other Automotive, General Automotive, Oil, Gas, Performance & Special Interest, Energy, Transfer, Multimedia, F1, USAC, Transport, NGL, SUNOCO, SUN, Grand Prix, Sauber Motorsport, Energy Transfer Partners, C44, Partnership

Sunoco LP (NYSE: SUN) and Energy Transfer LP (NYSE: ET), both based in Dallas, announced today they have signed an agreement with Switzerland-based Sauber Motorsport to sponsor its Stake F1 Team KICK Sauber, marking the first time these two companies have entered a marketing partnership.

Key Points: 
  • Sunoco LP (NYSE: SUN) and Energy Transfer LP (NYSE: ET), both based in Dallas, announced today they have signed an agreement with Switzerland-based Sauber Motorsport to sponsor its Stake F1 Team KICK Sauber, marking the first time these two companies have entered a marketing partnership.
  • View the full release here: https://www.businesswire.com/news/home/20240223759441/en/
    SUNOCO AND ENERGY TRANSFER SIGN FIRST JOINT MULTI-YEAR PARTNERSHIP WITH STAKE F1 TEAM KICK SAUBER (Photo: Business Wire)
    The cornerstone of the sponsorship is brand visibility for both Sunoco and Energy Transfer on the new C44 Stake F1 Team car revealed in Hinwil, Switzerland earlier this month.
  • SUN's general partner is owned by Energy Transfer LP (NYSE: ET).
  • 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.

Pembina Pipeline Corporation Reports Record Results for the Fourth Quarter 2023, Provides Business Update, and Declares Quarterly Common Share Dividend

Retrieved on: 
Thursday, February 22, 2024
Energy, Other Energy, Utilities, Oil, Gas, Transfer, Momentum, Carbon, Engineering, Conversation, Weather, ACG, Web browser, RFS, TC Energy, Growth, Montney, British Columbia, LNG Canada, Pipeline, WCSB, Sale, E6, Season, Tax, EPC, Corporation, Peace, Emperor, Marketing, Black & Veatch, Management, Propane, Transport, Phase, Depreciation, Partnership, Hart–Scott–Rodino Antitrust Improvements Act, BBB, Natural gas, Alliance Pipeline, Elk, Black, FID, Dow, Insurance, Hydrocarbon, Acquisition, Wildfire, Mountain Valley Pipeline, Ethane, NEBC, Ruby, NGL, Coastal GasLink Pipeline, Facility, Younger, PGI

Pembina reported record quarterly adjusted EBITDA of $1,033 million in the fourth quarter and record full year adjusted EBITDA of $3,824 million.

Key Points: 
  • Pembina reported record quarterly adjusted EBITDA of $1,033 million in the fourth quarter and record full year adjusted EBITDA of $3,824 million.
  • Results were impacted by higher incentive costs driven by Pembina's share price performance and increased shared service revenue.
  • On a per share (basic) basis, cash flow from operating activities was $1.60 per share for the fourth quarter and $4.79 per share for the full year.
  • ET) for interested investors, analysts, brokers and media representatives to discuss results for the fourth quarter of 2023.

Enterprise to Acquire Interest in Panola NGL Pipeline From Western Midstream

Retrieved on: 
Wednesday, February 21, 2024
Oil, Gas, Energy, Natural gas, Transport, NGL, Sale, Atlas, Enterprise Products, EPD, Security (finance), Hand, Risk, Partner, Petroleum

Enterprise Products Partners L.P. (NYSE: EPD) today announced that its affiliate has entered into a definitive agreement to acquire member interests in Panola Pipeline Company, LLC (“Panola”) from an affiliate of Western Midstream Partners, LP (“Western”) in a debt-free transaction for $25 million in cash consideration.

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) today announced that its affiliate has entered into a definitive agreement to acquire member interests in Panola Pipeline Company, LLC (“Panola”) from an affiliate of Western Midstream Partners, LP (“Western”) in a debt-free transaction for $25 million in cash consideration.
  • Enterprise executed a definitive agreement to acquire Western’s 15 percent equity interest in Panola.
  • Panola owns a 253-mile pipeline that transports mixed NGLs from natural gas processing plants in East Texas, including Enterprise’s Bulldog plant, to multiple destinations, including the partnership’s NGL fractionation complex in Chambers County, Texas.
  • Subject to the rights of other Panola owners to participate in the sale of Western’s interest, upon closing of this transaction, Enterprise will own up to 70 percent of Panola.

Enterprise to Participate in Investor Conferences

Retrieved on: 
Wednesday, February 21, 2024
Oil, Gas, Energy, Natural gas, Transport, NGL, Enterprise Products, EPD, Partner, Atlas, Conference

Enterprise Products Partners L.P. (NYSE: EPD) announced today it will participate in meetings with investors at the following conferences:

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) announced today it will participate in meetings with investors at the following conferences:
    Daniel Energy THRIVE Energy Conference in Houston, Texas, February 22, 2024; and
    Scotiabank Energy & Power Conference in Miami, Florida, February 28, 2024.
  • The latest investor deck that may be used to facilitate the investor meetings can be accessed under the Investors tab on the Enterprise website beginning at 8:00 a.m. CT, Thursday, February 22.
  • 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.

Enterprise Acquires Joint Venture Interests From Western Midstream

Retrieved on: 
Wednesday, February 21, 2024
Energy, Other Energy, Oil, Gas, Permian, Acquisition, Natural gas, Transport, NGL, Atlas, Enterprise Products, EPD, Security (finance), Hand, Partner, Risk

Enterprise Products Partners L.P. (NYSE: EPD) today announced that certain of its affiliates have acquired interests in Whitethorn Pipeline Company LLC (“Whitethorn”) and Enterprise EF78 LLC (“EF78”) from affiliates of Western Midstream Partners, LP (“Western”) in a series of debt-free transactions for $375 million in total cash consideration.

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) today announced that certain of its affiliates have acquired interests in Whitethorn Pipeline Company LLC (“Whitethorn”) and Enterprise EF78 LLC (“EF78”) from affiliates of Western Midstream Partners, LP (“Western”) in a series of debt-free transactions for $375 million in total cash consideration.
  • Enterprise completed the acquisition of Western’s 20 percent equity interest in Whitethorn, which owns the 620,000 barrel per day Midland-to-Sealy portion of the Midland-to-ECHO 1 crude oil pipeline.
  • Enterprise also completed the acquisition of Western’s 25 percent equity interest in EF78, which owns natural gas liquids (“NGL”) fractionators 7 and 8 located in Mont Belvieu, Texas.
  • “We are pleased to complete these transactions to consolidate ownership in these midstream assets,” said A. J.

Akron Public Schools Hosts Carnegie Learning Leadership Network to Explore How Schools Can Better Prepare Students for the Future

Retrieved on: 
Tuesday, March 5, 2024
North High School, Student, College, NGL, Learning, Foundation (nonprofit), APS, Ford, Organization, Akron Public Schools, Research, Carnegie Foundation, Nursing

AKRON, Ohio, March 5, 2024 /PRNewswire/ -- Akron Public Schools (APS) will host the Carnegie Learning Leadership Network (Carnegie LLN) on March 5–7, 2024 to explore how secondary schools can better prepare their students for the future.

Key Points: 
  • AKRON, Ohio, March 5, 2024 /PRNewswire/ -- Akron Public Schools (APS) will host the Carnegie Learning Leadership Network (Carnegie LLN) on March 5–7, 2024 to explore how secondary schools can better prepare their students for the future.
  • It is indeed an honor to be part of the Carnegie Learning Leadership Network and to work collaboratively to enhance how we prepare students for the future," said Dr. Michael Robinson, superintendent of Akron Public Schools.
  • "We are delighted to be visiting Akron Public Schools with the Carnegie Learning Leadership Network," said Dr. Tinkhani Ushe White, lead of the Carnegie Learning Leadership Network.
  • Knowles added, "We are exceptionally grateful to our colleagues at Akron Public Schools for hosting the Carnegie Learning Leadership Network.

Enterprise Provides Update on 2023 K-1 Availability

Retrieved on: 
Thursday, February 15, 2024
Oil, Gas, Energy, Second Continental Congress, Natural gas, Transport, NGL, Atlas, House, Enterprise Products, EPD, Legislation, Security (finance), Congress, Representative, Risk, Tax, Partner, Senate

Enterprise Products Partners L.P. (NYSE: EPD) today provided an update on the expected availability of the partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) today provided an update on the expected availability of the partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.
  • This legislation includes changes in tax law which would be applied retroactively to the 2023 tax year.
  • 7024, Enterprise will provide an update on the availability of the 2023 Investor Tax Packages.
  • Except as required by law, Enterprise does not intend to update or revise their respective forward-looking statements, whether as a result of new information, future events or otherwise.

Energy Transfer Reports Strong Fourth Quarter 2023 Results and Announces 2024 Outlook

Retrieved on: 
Wednesday, February 14, 2024
Oil, Gas, Energy, Transfer, TotalEnergies, Natural gas, USAC, Transport, NGL, Partnership, SUN, Heads of Agreement, Energy Transfer Partners, Public expenditure, Sunoco

Energy Transfer LP (NYSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter and year ended December 31, 2023.

Key Points: 
  • Energy Transfer LP (NYSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter and year ended December 31, 2023.
  • The midpoint of this range represents a 7% increase from 2023 Adjusted EBITDA of $13.7 billion, which was $100 million above the high end of Energy Transfer 2023 estimates.
  • With the addition of new growth projects and acquisitions, Energy Transfer’s assets continued to reach new milestones during the fourth quarter of 2023.
  • In January 2024, Energy Transfer announced a quarterly cash distribution of $0.3150 per common unit ($1.26 annualized) for the quarter ended December 31, 2023, which is an increase of 3.3% compared to the fourth quarter of 2022.

NGL Energy Partners LP Announces Cash Distribution of 50% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units

Retrieved on: 
Tuesday, February 6, 2024
Energy, Other Energy, Oil, Gas, Partnership, Class, NGL, Class D

NGL Energy Partners LP (NYSE: NGL or the “Partnership”) announced today that the Board of Directors of its general partner declared a distribution of 50% of the arrearages earned and outstanding through December 31, 2023 to be paid to the holders of the Partnership’s 12.806% 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 or the “Partnership”) announced today that the Board of Directors of its general partner declared a distribution of 50% of the arrearages earned and outstanding through December 31, 2023 to be paid to the holders of the Partnership’s 12.806% 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 holder of the Class B Preferred Units will receive $4.4439 per unit and each holder of the Class C Preferred Units will receive $4.0746 per unit on February 27, 2024, which payments will be made to holders of record at the close of trading on February 16, 2024.
  • Additionally, the Board of Directors declared a cash distribution in the amount of $115,035,820.87, which represents 50% of the arrearages earned on the Class D preferred units through December 31, 2023.
  • The Class D Preferred distribution payments will also be made on February 27, 2024.

Evolution Petroleum Reports Second Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Third Quarter

Retrieved on: 
Tuesday, February 6, 2024
Carbon, ExxonMobil, GAAP, International, NGL, Tax, Jonah Field, Interest, Transport, Henry Hub, BOPD, Evolution, Public expenditure, MCF, LOE, Central Time, Acquisition, Natural gas, Webcast

Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.

Key Points: 
  • Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.
  • Lease operating costs (“LOE”) increased $0.5 million, or 4% from $11.9 million in the prior quarter to $12.4 million in the current quarter.
  • During the second quarter of fiscal 2024, the Company fully funded operations, development capital expenditures, and cash dividends through cash generated from operations and working capital.
  • As previously announced, Evolution Petroleum will host a conference call on February 7, 2024, at 10:00 a.m. Central Time to review its second quarter fiscal 2024 financial and operating results.