Enbridge Energy Partners, L.P. (EEP)

[eFinanceMarkets]

Enbridge Energy Partners +3.5% as Morgan Stanley rates Overweight
Enbridge Energy Partners (EEP +3.6%) is higher after Morgan Stanley awards it an Overweight rating, even though a distribution cut of as much as 40% is likely when the MLP eventually completes its strategic review.
Stanley sees a compelling valuation after the units have dropped ~30% since EEP updated investors on its plans in January, with more upside potential depending on how the distribution cut is implemented by parent company Enbridge (ENB -0.7%).
The firm thinks the strategic review could help EEP if ENB is further supportive by, for example, offering additional and possibly over-equitized drops at attractive multiples with the take-back of units, revamping joint funding agreements, or eliminating the modest incentive distribution rights burden.

[BettingAngles]

Just gets better and better here. Divs are great and with the new purchase they will continue.

[BettingAngles]

Enbridge Energy Partners L.P. which owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the U.S., ended the session 0.31% higher at $23.01 with a total volume of 666,378 shares traded. The Company's shares have advanced 5.84% in the last one month, and 29.08% in the previous three months. The stock is trading 6.05% above its 50-day moving average and 11.35% above its 200-day moving average. Moreover, shares of Enbridge Energy Partners have an RSI of 57.01.

[BettingAngles]

Membership Interest Purchase Agreement

Also on August 2, 2016, MarEn entered into a Membership Interest Purchase Agreement (“ MIPA ”) with Bakken Holdings Company LLC (“ Bakken Holdings ”) to, among other things, acquire 49 percent of the issued and outstanding membership interests in BPI for cash consideration of $2.0 billion. The MIPA contains customary representations and warranties of the parties and the parties have customary indemnification obligations. The acquisition by MarEn of the interest in BPI is expected to close during the third quarter of 2016, subject to customary closing conditions, including customary operating restrictions between execution and closing. Upon closing of the transaction, MarEn and Bakken Holdings will execute an Amended and Restated Limited Liability Company Agreement of BPI (“ LLC Agreement ”).

[BettingAngles]

Current Report Filing (8-k)
Print
Alert


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549



FORM 8-K



CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): August 2, 2016



ENBRIDGE ENERGY PARTNERS, L.P.
(Exact Name of Registrant as Specified in Charter)



DELAWARE 1-10934 39-1715850
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

1100 LOUISIANA, SUITE 3300, HOUSTON, TEXAS 77002
(Address of Principal Executive Offices) (Zip Code)

[phone]
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 1.01. Entry into a Material Definitive Agreement.

On August 2, 2016, Enbridge Energy Partners, L.P. (“ EEP ”) announced that it and Marathon Petroleum Corporation (“ Marathon Petroleum ”), had entered into an agreement to form a new joint venture, which in turn has entered into an agreement to acquire a 49 percent equity interest in the holding company that owns 75 percent of the Bakken Pipeline System (“ Bakken Pipeline ”), which consists of the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline projects, from an affiliate of Energy Transfer Partners, L.P. and Sunoco Logistics Partners L.P. Under that arrangement, EEP and Marathon Petroleum would indirectly hold 75 percent and 25 percent, respectively, of the joint venture’s 49 percent interest in the holding company of Bakken Pipeline. The purchase price of EEP’s effective 27.6 percent interest in the Bakken Pipeline is $1.5 billion. Closing of the transaction is subject to certain conditions, and is expected to occur in the third quarter of 2016.

[BettingAngles]

EEP-Awesome stock, best Dividend/risk around..

[eastunder]

Enbridge Energy Partners declares $0.57 dividend
Enbridge Energy Partners (NYSE:EEP) declares $0.57/share quarterly dividend, in line with previous.
Forward yield 6.14%
Payable May 15; for shareholders of record May 8; ex-div May 6.

[EconomicSanity]

Canadians Should Sell Enbridge And Buy Its U.S. MLP For The High Yield

Found this article interesting... http://stks.co/s0vzh

[johnsyn]

surviving, and still way busy with new house, but inside work is about done, outside starting next- trees to remove, driveway to be extended, list goes on, just like EEP's pipelines.

[pete807]

Agreed. They do have to rework a lot of old lines including some under the river border with Canada. Since I have held it so long and my dad before me back to Lakehead days from Superior to Chicago, I will continue to hold rather than pay those cap gains. The kids will decide as it will one day be theirs. Meanwhile I like the distributions and the company's management. Good to hear from you... how's ya doing these days?

[johnsyn]

yeah, but the $$$$billions in pipeline rework isn't going to let it fly high for a while, just paid the divie last month, so got a while to go before we see next one.

[pete807]

Hopefully a rebound is in the near future. This article seem to fuel that idea... pun intended.
http://www.fool.com/investing/general/2014/02/25/dont-expect-10-gasoline-anytime-soon.aspx

[pete807]

Enbridge applies to build pipeline from North Dakota in $2.6B project • 4:49 PM 11-5-2013

Enbridge (ENB; EEP) applies to build the largest oil pipeline yet from North Dakota and will begin courting oil producers to reserve space, in a $2.6B project that would move millions of gallons of oil to Minnesota and Wisconsin.
The proposed 612-mile Sandpiper pipeline would carry 225K bbl/day of oil to a hub in northern Minnesota and 375K bbl/day to one in northwestern Wisconsin.
North Dakota oil production is closing in on 1M bbl/day, but due to the lack of pipeline capacity in the state, ~61% of the daily oil production is being shipped by rail; ENB’s application to regulators argues the project is “needed and in the public interest.”
-from SA Market Currents

[Timothy Smith]

$EEP - Most recent corporate developments:

In late April, Enbridge Energy Partners announced that the company plans to construct a 150 MMcf/d cryogenic natural gas processing plant in Panola County, Texas.

The addition of this plant will expand the Partnership's processing capacity to approximately 820 MMcf/d in the Cotton Valley and Haynesville shale regions.

The cost of this plant is estimated at $140 million. The construction is anticipated to begin in late 2013, and will be in-service by early 2015.

In late June, Enbridge Energy Partners announced that it exercised its options to decrease its economic interests in the Lakehead system expansions of both the Eastern Access and Mainline Expansion projects from 40% to 25%.

Enbridge Partners expects to receive approximately $100 million from its general partner related to the 15% of the capital it has funded to-date pursuant to these expansion projects. Final phases of the Eastern Access and Mainline Expansion projects are currently targeted for completion in 2016.

Additionally, Enbridge Energy Partners entered into an agreement with a subsidiary of Enbridge (ENB) whereby Enbridge will purchase the accounts receivables of certain of EEP's subsidiaries on a monthly basis through 2016 until EEP's large growth capital commitments are permanently funded.

It is anticipated that approximately $215 million of receivables will be purchased each month.

[johnsyn]

Interesting- 4:33 PM Enbridge Energy (EEP) announces plans for initial public offering of Midcoast Energy Partners, a proposed MLP whose initial asset will consist of a ~40% ownership interest in EEP's existing natural gas and NGL midstream business. EEP expects Midcoast to raise $400M-$500M in the offering

[johnsyn]

Enbridge Energy Partners Declares Distribution and Reports Earnings for First Quarter 2013


Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") today declared a cash distribution of $0.5435 per unit payable May 15, 2013 to unitholders of record on May 8, 2013.

[pete807]

Yep there is major age of their system going back to Lakehead aquisition, which is where I started with them, which holds this one back a bit... some high cost replacement pipes under the river northern border will be needed. Still it is very well run and management has industry respect. It pays well and even though the sp appreciation is slower it is steady. Those old pipes are an issue though.

[johnsyn]

it's 38 years old. Not the cold or pressure, one involved a truck running into it. http://www.thespec.com/news/local/article/923979--enbridge-says-two-westover-oil-leaks-not-a-pipeline-problem

[pete807]

Heard on the news last night there was a slight leak in N Mn on Enbridge line, and they were investigating the cause. The good news is they only had to excavate 50 yards of contaminated soil. Not much if I remember from my dump truck driving days. So what excess strain is there pumping the heavy Canadian crude if that was what leaked like in Arkansas? Pressure inside the pipe must be much more also in cold weather which we have had this year. Maybe we should build pipelines like the Germans built the Autobahn... super thick!

[bananarama]

Hi,
I am new this board. I learned about this company through Richard Band who writes a newsletter called Profitable Investing. He recommends purchase of EEQ, so my dividends come in as shares rather than cash.

No matter, the dividend is hard to beat with EEQ. I currently earn 7.2% in my IRA. Starting next year, I will cash the shares as I receive them every quarter and take the money as income to supplement my retirement.

Toll taker stocks like EEQ/EEP are wonderful to own in that the dividends are hard to beat. Utility-like stocks are safer than any other classes of stocks....

[johnsyn]

They carry bonded insurance for it, guarantee Buggett won't have out-of-pocket expenses here, got to remember, he's buddies with the Prez.

[pete807]

Crude oil spill just announced on morning news..... and it wasn't a pipeline. Northern MN town called Parkers Prairie.
3 railcars derailed and 20-30k gallons spilled. So Warren Buffet will get the cleanup bill (and the superfund). Prairie huggers will be marching on Omaha chanting Chevy Volt! jk

[johnsyn]

12:48 PM Interest rates will rise sooner or later, but Credit Suisse looks at the rate-rising 2004-07 period and factors now in place to lead it to believe MLPs would outperform should rates rise again. CS still believes increased focus on crude oil infrastructure should drive performance, given the boom in North American production. Its three-to-five-year favorites:

[johnsyn]

5:45 PM Enbridge Energy Management (EEQ) -4.9% AH after announcing a public offering of 9M shares. Proceeds will be used to invest in an equal number of i-units of Enbridge Energy Partners (EEP), who plans to utilize such proceeds to debt, finance a portion of its capital expansion program and for general partnership purposes

[Timothy Smith]

Will consider some Canadian oil & gas. Sounds interesting about the tankers, interested in any ideas. Maybe you can drop some DD on the oil & gas large cap board.

However I am a domestic e & p and oil services hound!!! haha

[johnsyn]

lean month though, a lot paid early to avoid the jump expected in taxes this year. Do you do Canadian O&G or just domestic? I find investing in R/R tankers to make up for voids in pipelines quite profitable too, so many ways to do O&G out there.

[Timothy Smith]

LOL yeah!

[johnsyn]

yep, got a Canadian one paying tonight.

[Timothy Smith]

Goodness we have to keep it written down how else could we keep track of it all!

[johnsyn]

put it on my calender, thanks. I keep a Dayrunner to keep track, LOL.

[Timothy Smith]

Enbridge Energy Partners Declares Distribution

Jan 30, 2013 4:01:00 PM
HOUSTON, TX -- (Marketwire) -- 01/30/13 -- Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") today declared a cash distribution of $0.5435 per unit payable February 14, 2013 to unitholders of record on February 7, 2013.

Enbridge Energy Management Distribution

Enbridge Energy Management, L.L.C. (NYSE: EEQ) ("Enbridge Management") today declared a distribution of $0.5435 per share payable on February 14, 2013 to shareholders of record on February 7, 2013. The distribution will be paid in the form of additional shares of Enbridge Management valued at the average closing price of the shares for the 10 trading days prior to the ex-dividend date on February 5, 2013.

[johnsyn]

12:43 PM Enbridge powers higher on its plans to spend $6.2B on a series of projects to bring growing volumes of Alberta and North Dakota light oil to market. There's enough shipper support to go ahead with the market access program, which will flow an additional 400K bbl/day of light oil to refineries in Ontario, Quebec and the U.S. Midwest.

[johnsyn]

Enbridge Energy Partners to Invest $3.4 Billion in Light Oil Market Access Program
Thu December 6, 2012 4:41 PM | about: EEP

NEWS PROVIDED BY:
Marketwire

HOUSTON, TEXAS -- (Marketwire) -- 12/06/12 -- Enbridge Energy Partners, L.P. (EEP) ("Enbridge Partners" or "the Partnership") announced today its plans to invest in a Light Oil Market Access Program (the "Program") to expand access to markets for growing volumes of North Dakota and western Canada light oil production. The overall Program includes a number of individual projects, some of which will be jointly funded by the Partnership and Enbridge Inc. (Enbridge) (NYSE: ENB) (TSX: ENB), and certain projects that will be funded entirely by the Partnership.

Enbridge Partners' investment in the Program is expected to be approximately $3.4 billion. The joint funding arrangements between the Partnership and Enbridge provide Enbridge Partners with options to increase or decrease its investment in certain projects to match its funding capability. The Partnership's investments will be undertaken on a fixed return cost-of-service basis under which it will not be exposed to throughput risk or capital cost risk. Broad shipper support has been demonstrated for the Program and the associated rate principles. The projects that comprise the Program are subject to respective customary regulatory approvals.

The Light Oil Market Access Program responds to significant recent developments with respect to supply of light oil from U.S. north central formations and western Canada, as well as refinery demand for light oil in the U.S. Midwest and eastern Canada. On the supply side, production from the Bakken formation centered in North Dakota has grown from 200,000 barrels per day (bpd) to 700,000 bpd in the last five years with potential to expand to 1,200,000 bpd or more in the next five years, if transportation access to refinery markets is available. Additional growth in light crude production of 100,000 bpd or more is anticipated from application of latest recovery technologies to the Cardium and Viking formations in Alberta, Canada. Supply from these areas has become increasingly attractive to refineries in the U.S. Midwest and eastern Canada compared to much more costly alternative sources.

The individual projects to be undertaken by the Partnership pursuant to the Light Oil Market Access Program are summarized as follows:


Light Oil Market Access Projects
------------------------------------------
In Service
Project Estimated Cost Target Funding

1. Sandpiper Project $2.5 billion early 2016 EEP

2. Eastern Access Upsize

Line 6B expansion Joint
$0.4 billion early 2016 (ENB/EEP)

3. U.S. Mainline System

Chicago Area Connectivity (Line Joint
62 Twin Flanagan to Griffith) $0.5 billion mid-2015 (ENB/EEP)

Superior to Flanagan (Line 61 Joint
capacity expansion) $1.3 billion mid-2015 (ENB/EEP)

North Dakota System Expansion/Extension (Sandpiper Project)

The Program includes the Sandpiper Project which will expand and extend the Partnership's North Dakota feeder system. The Bakken takeaway capacity of the Partnership's North Dakota System will be expanded by 225,000 bpd to a total of 580,000 bpd, with a target in service date of early 2016. The expansion will involve construction of an approximately 600-mile 24-inch diameter line from Beaver Lodge, North Dakota, to the Superior, Wisconsin, mainline system terminal. The new line will twin the 210,000 bpd North Dakota System mainline, which now terminates at Clearbrook Terminal in Minnesota, adding 225,000 bpd of capacity on the twin line between Beaver Lodge and Clearbrook, and 375,000 bpd of capacity between Clearbrook and Superior.

The estimated capital cost of this project is approximately $2.5 billion. The capital cost will be rolled into the existing North Dakota System rate base, with the associated cost of service to be recovered in tolls. The Sandpiper Project commercial terms remain subject to approval by the Federal Energy Regulatory Commission (FERC), as filed in the Petition for Declaratory Order filed with FERC on November 2, 2012. The commercial terms filed with FERC have support from numerous shippers and stakeholders on the North Dakota System. EEP will fully fund the Sandpiper Project.

The Program also includes several distinct expansions of the Lakehead mainline system held within the Partnership.

Eastern Access Upsize

A further upsizing of the Line 6B component of the Eastern Access Program will increase capacity on the pipeline to 570,000 bpd from the previously announced 500,000 bpd and is required to permit additional deliveries of light oil to eastern Canada, at an expected cost of $0.4 billion. This additional capital will bring the estimated total cost of the Eastern Access Program supporting mainline expansions to $2.6 billion. This entire amount is included in the Eastern Access Joint Funding Arrangement pursuant to which Enbridge will fund 60 percent of the cost and the Partnership will fund 40 percent, with options to pare down by up to 15 percent or to increase its economic interest by up to 15 percent.

U.S. Mainline System

To accommodate additional light crude demand by Chicago-area refineries as well as additional Ontario and Quebec demand, the capacity of the Lakehead System between Flanagan, Illinois, and Griffith, Indiana, will be expanded by constructing a 76-mile 36-inch diameter twin of Line 62 with an initial capacity of 570,000 bpd, at an estimated cost of $0.5 billion. Further, the capacity of the 42-inch diameter Line 61 will be expanded to its full 1,200,000 bpd potential at an estimated cost of approximately $1.3 billion, with a target in-service date of mid-2015.

Enbridge shippers have approved the inclusion of the aggregate of $1.8 billion of capital for these projects in the Lakehead System's local toll cost-of-service surcharge mechanism.

The U.S. mainline expansion projects, as announced earlier this year, were previously to have been funded by Enbridge Energy Partners. These previously announced projects, in addition to the Chicago Area Connectivity and Line 61 upsizing capital requirements will now be jointly funded by Enbridge and the Partnership, under a Mainline Expansion Joint Funding Arrangement which parallels the Eastern Access Joint Funding Arrangement.

The Partnership's investment in the Light Oil Market Access Program will be approximately $3.4 billion, subject to adjustment upward or downward through the options that the Partnership retains under the joint funding arrangement for Eastern Access and the Mainline Expansion projects. To provide financing flexibility for the Partnership, the exercise period that will allow Enbridge Partners to decrease its economic interest and associated funding of these projects by up to 15 percentage points was extended to June 30, 2013 from December 31, 2012.

Additionally, within one year of the last in-service date for the Eastern Access and the Mainline Expansion projects, respectively, the Partnership will also have the option to increase its economic interest held at that time by up to 15 percentage points.

Enbridge Partners will also benefit from additional cost-of-service earnings on $0.3 billion of capital which was invested by the Partnership in the original development of the 42-inch Line 61 but which, under the terms of the agreement with shippers, is not eligible for recovery in rates until the full capacity of the line is required. This feature enhances the financial attractiveness of the overall Light Oil Market Access Program to the Partnership since it provides incremental earnings and cash flow with no associated incremental capital.

"The additional cash flow from the Partnership's investment in this program will be a major contributor to our plans to deliver cash distribution growth at the higher end of our 2 percent to 5 percent target," said Mark Maki, President of Enbridge Partners. "The cost-of-service rate principles ensure that the Partnership will achieve a reasonable return on its investment without exposure to throughput or capital cost risks. The low risk commercial underpinnings of these growth projects will progressively transform the Partnership to a lower risk business model. The joint funding arrangements applicable to both the Eastern Access and Mainline Expansion projects ensure that we have the opportunity to expand our investment in these attractive opportunities while providing us with substantial flexibility to manage our funding requirements."

MANAGEMENT PRESENTATION OF LIQUIDS EXPANSION PROJECTS

Enbridge Partners will present and review the liquids expansion projects in an Internet presentation, commencing at 9:30 a.m. Eastern Time on December 7, 2012. Interested parties may watch the live webcast at the link provided below. A replay will be available shortly afterward. Presentation slides will also be available at the link below.

EEP Events and Presentations: www.enbridgepartners.com/

Alternative Webcast link:

http://www.media-server.com/m/p/7ms82h74

The audio portion of the presentation will be accessible by telephone at [phone] (Passcode: 27371741) and can be replayed until March 8, 2012 by calling [phone] (Passcode: 25912644). An audio replay will also be available from either of the website addresses above.

About Enbridge Energy Partners, L.P.

Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 13 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.

Enbridge Energy Management, L.L.C. (www.enbridgemanagement.com) manages the business and affairs of the Partnership and its sole asset is an approximate 13 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) (www.enbridge.com) is the general partner and holds an approximate 22 percent interest in the Partnership.

LEGAL NOTICE

This news release includes forward-looking statements and projections, which are statements that do not relate strictly to historical or current facts. These statements frequently use the following words, variations thereon or comparable terminology: "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "projection," "should," "strategy," "will" and similar words. Although we believe that such forward looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond Enbridge Partners' ability to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) changes in the demand for or the supply of, forecast data for, and price trends related to crude oil, liquid petroleum, natural gas and NGLs, including the rate of development of the Alberta Oil Sands; (2) Enbridge Partners' ability to successfully complete and finance expansion projects; (3) the effects of competition, in particular, by other pipeline systems; (4) shut-downs or cutbacks at facilities of Enbridge Partners or refineries, petrochemical plants, utilities or other businesses for which Enbridge Partners transports products or to whom Enbridge Partners sells products; (5) hazards and operating risks that may not be covered fully by insurance; (6) changes in or challenges to Enbridge Partners' tariff rates; and (7) changes in laws or regulations to which Enbridge Partners is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance.

Reference should also be made to Enbridge Partners' filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the most recently completed fiscal year and its subsequently filed Quarterly Reports on Form 10-Q, for additional factors that may affect results. These filings are available to the public over the Internet at the SEC's web site (www.sec.gov) and at the Partnership's web site.

Contacts:
Enbridge Energy Partners, L.P.
Investor Relations Contact:
Sanjay Lad
Toll-free: (866) EEP INFO or [phone]
[e-mail]
www.enbridgepartners.com

Enbridge Energy Partners, L.P.
Media Contact:
Larry Springer
(713) 713-821-2253 or Toll-free: [phone]
[e-mail]

Source: Enbridge Energy Partners, L.P.

[johnsyn]

Enbridge Energy Partners Declares Distribution and Reports Earnings for Third Quarter 2012

Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") today declared a cash distribution of $0.5435 per unit payable November 14, 2012 to unitholders of record on November 7, 2012.

[johnsyn]

4:17 PM Enbridge Energy Partnership (EEP): Q3 EPS of $0.29 beats by $0.02. Revenue of $1.56B (-34% Y/Y) misses by $170M.

[johnsyn]

Enbridge enters into midstream services relationship for Peace River Arch area

October 22, 2012
By PennEnergy Editorial Staff
Source: Enbridge, Inc.

Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it has entered into a midstream services relationship with Encana Corporation (TSX, NYSE: ECA) to develop gas gathering and compression facilities in the Peace River Arch ("PRA") region in northwestern Alberta. Enbridge has agreed to acquire from Encana certain gathering and compression facilities in the PRA region currently in service and under construction, with an expected closing date in December 2012. Following the completion of construction of these facilities in 2013, Enbridge's total investment in the PRA region is expected to be approximately $264 million. The financial terms of the midstream services agreement for the gathering and compression facilities in the PRA region will parallel previously established terms between Enbridge and Encana reached in 2011. Enbridge is also working exclusively with Encana on facility scoping for further development of additional major midstream facilities in this region.

Enbridge also announced today it has agreed with the other owners of the Cabin Gas Plant development to defer the commissioning of Cabin Phase 1 and construction of Cabin Phase 2. Starting in December 2012, Enbridge will begin receiving fees for its investment made to date in the Cabin Gas Plant, including costs expended on Phase 2 of the plant facilities. Enbridge will retain the right to develop, own and operate all major midstream natural gas processing facilities required by Encana in the Cabin facility. Enbridge expects its investment in the Cabin and PRA region will exceed the previous level of capital committed to Cabin Phases 1 and 2.

"This agreement in the Peace River Arch region represents another step in the execution of our strategy to establish a strong position in the Canadian Midstream business," said Leon Zupan, President, Gas Pipelines Enbridge Inc. The investment extends our footprint to the Peace River Arch region, which is expected to grow significantly in the years to come, under the same attractive commercial underpinning and return as our original Cabin investment. The PRA region is also in close proximity to the Alliance Pipeline. We are pleased to be extending our relationship with Encana and look forward to working with producers and all stakeholders in this region."

[johnsyn]

7:15 PM Barclays investigates possible overvaluation in MLPs and thinks “the sector does not screen as cheap and will widen if the market gives up recent gains," advising investors who are overweight in EPD, PAA and KMI to moderate their positions. It's OK to add to ETB, EPB and DPM, the firm says, but reduce exposure to BPL, EEP and BWP

[johnsyn]

thanks adstet, but the charts don't take in consideration the offerings, etc.
News Story
Enbridge Energy Partners Announces Closing of 14 Million Class A Common Unit Offering


HOUSTON TX -- (Marketwire) -- 09/11/12 -- Enbridge Energy Partners, L.P. (NYSE: EEP) (the "Partnership") announced today the closing of its previously announced public offering of 14 million of its Class A Common Units, that priced on September 6, 2012, at a price to the public of $28.64 per unit.

The Partnership expects to use the net proceeds from this offering of approximately $388.9 million to fund a portion of its capital expansion projects, for general partnership purposes or any combination of such purposes.

Morgan Stanley, BofA Merrill Lynch, Barclays, J.P. Morgan, UBS Investment Bank and Deutsche Bank Securities were joint book-running managers for the offering. The offering is made pursuant to an effective shelf registration statement and prospectus filed by the Partnership with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Class A Common Units described herein, nor shall there be any sale of these Class A Common Units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from the underwriters as follows:

Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, NY 10014
Tel: [phone]
Email: [e-mail]

BofA Merrill Lynch
Attn: Prospectus Department
222 Broadway 7th Floor
New York, NY 10080
Email: [e-mail]

Barclays
Attn: Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
Tel: [phone]
Email: [e-mail]

J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: [phone]

UBS Investment Bank
Attn: Prospectus Dept.
229 Park Avenue
New York, NY 10171
Tel: [phone]

Deutsche Bank Securities
Attn: Prospectus Department
60 Wall Street
New York, NY 10005
Tel: [phone]

About Enbridge Energy Partners, L.P.

Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 13 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.

Enbridge Energy Management, L.L.C. (www.enbridgemanagement.com) (NYSE: EEQ) manages the business and affairs of the Partnership and its sole asset is an approximate 13 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) (www.enbridge.com) is the general partner and holds an approximate 22 percent interest in the Partnership.

[adstet]

EEP has been showing support around 28.97 and resistance in the 30.55 price range. The technical indicator shows a strong buy with the 35.68 target price in six months.

Check here:
"http://www.stoxline.com/quote.php?symbol=eep";

[johnsyn]

4:45 PM Enbridge Energy Partners (EEP) -4.1% AH after saying it launched a public offering of 14M common units and expects to grant the underwriters a 30-day option to purchase up to an additional 2.1M units. EEP expects to use the net proceeds to fund a portion of its capital expansion projects and/or for general partnership purposes.

[johnsyn]

http://news.morningstar.com/articlenet/article.aspx?id=565094

[johnsyn]

http://seekingalpha.com/news-article/3766841-enbridge-energy-partners-restarts-line-14?source=email_portfolio&ifp=0

[johnsyn]

Growing need for pipelines strains manufacturers

August 1, 2012

The shale oil boom has led to surging demand for new oil pipelines in the middle of the U.S., which manufacturers are finding difficulty keeping up with, according to Reuters.

Much of the current American oil pipeline infrastructure was constructed in relatively ad hoc projects that rarely required extensive manufacturing capacity.

As shale oil exploration begins to make producers out of states that previously had little impact on the oil industry, such as North Dakota and its Bakken shale play, pipeline companies have begun purchasing manufacturers for key components such as valves, driving up prices for other projects.

"New infrastructure is going to be critical to push these commodities around the country where they need to be," David Seaton, chairman and CEO of engineering company Fluor Corp., told Reuters. "It's going to be the lifeblood of economic growth for my lifetime."

In the meantime, Dow Jones Businesswire reports that the first major deal has been struck bringing Bakken shale oil down the Mississippi by barge, a method that is already common for Canadian oil sands.

PennEnergy's Research area projects the outlook for the U.S. oil pipeline industry.

[johnsyn]

Enbridge gets OK for Ontario pipeline; Plan would see oil flow from Sarnia to Hamilton


The Toronto Star
July 31, 2012

Enbridge Inc. has been granted conditional approval to ship oil from western Canada through an Ontario pipeline from Sarnia to Hamilton.

But opponents of the $16.9-million project - who fear it could eventually lead to Ontario being a conduit for oilsands crude - say they're encouraged by some of the restrictions laid down by the energy board.

Enbridge said in a statement that the company is "reviewing the recommendations and will provide a response later this week once the review is complete."

The ruling comes as Enbridge seeks permission to build a pipeline to ship oilsands crude through British Columbia. It has also been beset by spills at pipelines in Michigan and Wisconsin.

Enbridge Line 9 is a 76-centimetre pipe running between Sarnia and Montreal that currently carries low volumes of imported oil westward to refineries in Sarnia.

Enbridge has proposed reversing the flow to carry 152,000 barrels of light crude oil a day from western Canada eastward as far as its Westover terminal near Hamilton.

The company says the reversed pipeline "will be capable of transporting a range of crude oil products." That raised fears among groups that the line might be used to ship crude from the oilsands.

The ruling appears to set one hurdle that will have to be jumped before that can happen, however. It says the current rate structure approved for shipping oil through the line does not allow for the transport of heavy crude from the oilsands.

"In future, if Enbridge wishes to transport heavy crude oil on Line 9, it will need to apply to the board," the ruling says.

That's "somewhat positive," said Albert Koehls, a lawyer for Equiterre, one of several environmental groups that appeared before the energy board at hearings in May.

"If Ontario's to be a conduit for tar sand expansion, there should be some public dialogue or public debate," Koehls said in an interview.

If opponents wish to appeal the decision to federal court, they must file a notice within 30 days.

Pipeline opponents say that synthetic crude from the oilsands is riskier to ship, with more chances of pipeline breaks.

Enbridge says that's not the case; its lawyer Douglas Crowther called the claims "ill informed and unsubstantiated" at the May hearings.

"Enbridge simply will not transport oil that cannot be transported safely," Crowther insisted.

Enbridge noted at the hearings that reversing the pipeline's flow will involve a negligible amount of new construction along the line.

Whatever Enbridge ships through the reversed line, the company must come back to the energy board to apply for "leave to open" the pipeline before it can start operating the line.

The energy board set out a number of technical requirements that Enbridge must meet.

The company's actions in meeting the requirements will be subject to "rigorous engineering assessment by the board," said spokeswoman Erin Dottor. She said there would be no public hearings involved.

Much of the controversy around the Line 9 reversal stems from a debate over what the project entails. The current decision allows Enbridge to reverse the line from Sarnia to Hamilton. That will allow Enbridge to pipe oil south to an Imperial Oil refinery in Nanticoke, Ont., which is now supplied with imported crude.

Imperial is anxious to refine western Canadian crude, which is priced lower than imported oil.

But Enbridge has also announced it's interested in reversing the remainder of the pipeline to Montreal - although no formal application has been submitted.

The Sarnia-to-Hamilton project is called "Phase I," leading opponents to ask what further phases may be.

Several intervenors who appeared at the May hearings said that once Enbridge moves the crude to Montreal, the company will want to ship it on the ports on the U.S. east coast.

Enbridge had proposed that scheme, dubbed "Trailbreaker," but later backed away from it.

Several aboriginal groups appeared at the hearing to oppose the reversal, but the board concluded in its decision that "any potential project impacts on aboriginal interests will be minimal and will be appropriately mitigated."

Provided its conditions are met, the energy board said it is "satisfied that it is in the public interest to approve the project."
Copyright 2012 Toronto Star Newspapers Limited
The Toronto Star

[johnsyn]

DIVIDEND: Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") today declared a cash distribution of $0.5435 per unit payable August 14, 2012 to unitholders of record on August 7, 2012.

"We are announcing a 2.1% distribution increase, which is in line with our annual distribution growth target rate of 2 to 5 percent," said Mark Maki, president of the Partnership

[johnsyn]

http://seekingalpha.com/news-article/3665661-enbridge-energy-partners-declares-distribution-increase-and-reports-earnings-for-second-quarter-2012?source=email_portfolio&ifp

[Timothy Smith]

Makes sense pipelines have been bullish lately.

[johnsyn]

can't find anything on EEP, other than the rapid response to successfully contain the pipeline leak. The earnings release is not until mid-next week, there seems to be some rumors that ex-div date is next friday, and most of their competitors have increased their divies for the payouts, so far. So I'm guessing it is leveraging early positions before ex-div date is declared, not expecting financials to "meet" the jerks who decide what the earnings should be for consensus.
http://seekingalpha.com/article/753191-enbridge-energy-partners-reports-earnings-on-july-31

[johnsyn]

http://www.equities.com/news/headline-story?dt=2012-07-27&val=318942&cat=energy

[Timothy Smith]

What is the driver behind the move today?