Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
all the pipelines I deal with are up today. Looking good for a Friday.
Yeah I think so and depressed prices ha played a big roll. I see that improving and the pps of EEP along with it going into 2013.
got to be people still thumbing their noses at pipelines, figure profits go hand in hand with oil & gas prices.
The stock has a market capitalization of $8.38B and is currently trading at $29.40 with a 52 week range of $24.66 - $33.85. The stock's year-to-date performance has been -8.35%. It is currently trading below 20, 50 and 200 SMA.
Analyst Upgrades and Downgrades
On July 18, 2012, Global Hunter Securities downgraded the company from Buy to Neutral.
On July 3, 2012, Wells Fargo upgraded the company from Hold to Strong Buy.
On June 28, 2012, Oppenheimer upgraded the company from Perform to Outperform.
On April 16, 2012, Global Hunter Securities initiated Buy rating for the company.
On January 30, 2012, Morgan Keegan downgraded the company from Outperform to Mkt Perform.
Natural gas prices are going to be low which means these deals will not rally until NG does. When NG does rally though it is good for EEP and other great ways to play it like NG producers CHK and SWN and etfs like UNG.
So this could run into the commodity run and than pull back with the change and run again after that imo.
Enbridge Energy Partners (EEP -0.9%) is downgraded to Neutral from Buy with a reduced $29 target price at Global Hunter, which believes a weakening economy and high propane and ethane inventories indicate NGL prices may stay lower for longer. The firm expects EEP to issue equity to reduce leverage before year's end.
I guess stable is better anyhow.. WSJ posts a nice list of short stocks as do a few others. I had better stick with what I know and use that as icing on the cake at flip lines.
I don't see anything in my Bookmarks, I normally don't have to worry about short info much on high yielders, but I've seen a few postings with a link, I'll scratch my brain and see if we're talking about the same site.
This is very useful data for all and I thank you much. By chance have you ever seen that short finder site that shows the short interest in the chart for almost any stock. I bookmarked it once and the hard drive fried..
It's fine if not. I may stumble upon it once again.
This example is of one site similar to what I am referring..
http://www.schaeffersresearch.com/streetools/filters/equity_si.aspx
The chart was simple and more like a normal barchart than this style.
Dividend.com is my favorite site, only use the free lookup, don't pay from Premium which includes reports and stuff. But I use Schwab, and with their Streetsmart Edge, which I also can create columns including divies, but the dates for ex-div, record, and paydate aren't showed.
DividendHunter.com is good one if you're looking for select high divie sectors, and looking for names, click on MLPs, and get lists, in whatever order you want, such as yield hi to low or alphabetical order. Sometimes the data there is out-of-date, such as I find a few have suspended dividends that he hasn't marked, but it is good guide to find names and move on to other sites for DD.
Is there a trick for divy hunting.. When I run a scan and add divy high into it they often fail for a tech bounce. I think that is due the prior payouts.
I have to also ask you if you know of a historical divy data site.. Type a ticker and it shows a list of prior diviezzzzz!!
??
This could be awfully fun imo.
And apparently EEP is one pipeline that the divie hunters haven't run to.
4:31 PM Enbridge Energy Partners (EEP): Q1 EPS of $0.28 misses by $0.09. Revenue of $1.82B (+17.0% Y/Y) misses by $330M. Shares -1.3% SEEKING ALPHA
<<< $EEP Links! >>> ~ MAC's Quick DD Links without the charts.
Open these links (or the ones you desire) in background tabs
http://help.opera.com/Linux/9.52/en/keyboard.html
http://lifehacker.com/263940/force-links-to-open-in-the-background
PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/EEP
OTC Markets Company Info ~ http://www.otcmarkets.com/stock/EEP/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/EEP/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/EEP/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/EEP/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/EEP/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/EEP/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/EEP/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/EEP/research
Google Finance Summary ~ http://www.google.com/finance?q=EEP
Google Finance News ~ http://www.google.com/finance/company_news?q=EEP
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=EEP
Google Finance Financials ~ http://www.google.com/finance?q=EEP&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=EEP
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=EEP&histperiod=weekly#
Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=EEP+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=EEP+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=EEP+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=EEP
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=EEP+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=EEP+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/EEP
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/EEP
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=EEP+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=EEP+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=EEP+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=EEP+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=EEP+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=EEP+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=EEP+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=EEP+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=EEP+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=EEP+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=EEP+Cash+Flow&annual
FINVIZ ~ http://finviz.com/quote.ashx?t=EEP&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=EEP
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=EEP
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=EEP
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=EEP
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=EEP
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=EEP&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260
CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=EEP&exchange=US
Barchart Quote ~ http://barchart.com/quotes/stocks/EEP?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/EEP
Barchart Options Quotes ~ http://barchart.com/options/stocks/EEP
Barchart Technical Chart ~ http://barchart.com/charts/stocks/EEP&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/EEP&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/EEP
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=EEP
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/EEP
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/EEP
Barchart News Headlines ~ http://barchart.com/news/stocks/EEP
Barchart Profile ~ http://barchart.com/profile//EEP
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=EEP&view=key_statistics
OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=EEP&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=EEP&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=EEP&MarketTicker=NYSE&Typ=S
Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/EEP/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/EEP/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/EEP/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/EEP/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/EEP
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/EEP/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/EEP/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/EEP/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/EEP/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/EEP/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/EEP/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=EEP&sid=1795093&framed=False
The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=EEP
Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=EEP
StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=EEP&num1=567&cobrand=&mode=stock
StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=EEP
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=EEP
AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=EEP&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8
Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=EEP.PK&WTmodLOC=C4-Officers-5
StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=EEP®ion=U
Search NASDAQ ~ http://www.nasdaq.com/symbol/EEP
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/EEP/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/EEP/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/EEP/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=EEP&selected=EEP
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=EEP&selected=EEP
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/EEP/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/EEP/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/EEP/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/EEP/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/EEP/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/EEP/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/EEP/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/EEP/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/EEP/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/EEP/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/EEP/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/EEP/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/EEP/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/EEP/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=EEP&selected=EEP
NASDAQ Financials ~ http://www.nasdaq.com/symbol/EEP/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/EEP/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/EEP/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/EEP/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/EEP/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/EEP/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/EEP/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/EEP/insider-trades/sells
The Motley Fool ~ http://caps.fool.com/Ticker/EEP.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/EEP/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/EEP/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/EEP/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/EEP/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/EEP/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/EEP/Statements.aspx?source=icasittab0000009
MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=EEP
YCharts ~ http://ycharts.com/companies/EEP
YCharts Performance ~ http://ycharts.com/companies/EEP/performance
YCharts Dashboard ~ http://ycharts.com/companies/EEP/dashboard
InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=EEP&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=EEP&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=EEP&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=EEP
Zacks Quote ~ http://www.zacks.com/stock/quote/EEP
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=EEP
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=EEP
Knobias ~ http://knobias.10kwizard.com/files.php?sym=EEP
StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=EEP
Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/EEP/HOT_TOPIC.html
Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=EEP&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=EEP®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=EEP®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=EEP®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=EEP®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=EEP®ion=USA&culture=en-us
CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=EEP
TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=EEP
OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=EEP&searcharea=e&image1.x=0&image1.y=0
Insidercow ~ http://www.insidercow.com/history/company.jsp?company=EEP&B1=Search%21
Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=EEP
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=EEP&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null
YouTube Symbol Search ~ http://www.youtube.com/results?search_query=EEP
Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=EEP
Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=EEP
Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=EEP
Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=EEP
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=EEP
Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=EEP
Investorpoint ~ http://www.investorpoint.com/ enter "EEP" and click search.
Hotstocked ~ http://www.hotstocked.com/ enter "EEP" and click search.
Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=EEP
Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=EEP
DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=EEP
SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=EEP
OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=EEP
Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "EEP" and click search.
http://www.coordinatedlegal.com/SecretaryOfState.html
http://regsho.finra.org/regsho-Index.html
http://www.shortsqueeze.com/?symbol=EEP&submit=Short+Quote%99
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=EEP
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=EEP
Check those searches for recent EEP mentions. If EEP is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
MACDlinks
~ Tuesday! $EEP ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!
~ $EEP ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=EEP&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=EEP&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=EEP
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=EEP#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=EEP+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=EEP
Finviz: http://finviz.com/quote.ashx?t=EEP
~ BusyStock: http://busystock.com/i.php?s=EEP&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=EEP >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
•May crude oil prices this morning are trading up +71 cents a barrel and May gasoline is -0.69 of a cent per gallon. Crude oil prices on Monday settled mixed after strong Mar U.S. retail sales offset "constructive" talks between Iran and the UN Security Council and after Endbridge pushed up the date for the reversal of flow on the Seaway crude pipeline: CLM12 +0.10, RBM2 -7.91. The main bearish factors were the action by the UN Security Council and Iran to agree to reconvene May 23 in Baghdad, which suggests progress on a solution to Iran's nuclear program and reduces tensions in the Middle East, along with the statement from Enbridge that they would start moving crude oil via the Seaway pipeline from Cushing, Oklahoma to refineries on the Gulf Coast in mid-May, 2-weeks ahead of schedule. Crude gained after Mar U.S. retail sales rose more than expected and after Nigeria's main rebel group, MEND, threatened to mount "sustained strikes on all pipelines a nd facilities remotely related to Nigerian oil industry," which may reduce oil production in Africa's biggest oil producing country.
First Solar says Enbridge buys co's 50-mw Nevada solar project
March 22 (Reuters) - First Solar Inc :
* Enbridge acquires 50-mw Nevada solar project from First Solar
* Says terms of the transaction were not disclosed.
* Says solar project is expected to begin commercial operation by May 2012.
* Acquired a 100 per cent interest in the 50-megawatt (mw) silver state north
photovoltaic (pv) project
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
Thomson Reuters
5:35 PM Notable earnings after Wednesday's close: BID, BWC, DAR, DRC, EEP, EIX, FNSR, GEF, MBI, MDR, MDVN, PETM
Enterprise to expand ECHO crude oil terminal
HOUSTON, Feb. 14
02/14/2012
By Christopher E. Smith
Pipeline Editor OGJ
Enterprise Products Partners LP purchased 37-acres of land adjacent to its Enterprise Crude Houston (ECHO) crude oil terminal, currently under construction in southeast Harris County, Tex, allowing expansion of the facility to 6 million bbl.
EPP said it is developing ECHO as a regional pricing point for the US Gulf Coast crude market and expects the project to begin service second-quarter 2012.
ECHO’s initial site, announced in late 2010, covered 150 acres (OGJ Online, Nov. 11, 2010) and had a planned 4.5 million bbl capacity.
ECHO will also serve as the receipt point for crude delivered from the Eagle Ford shale in South Texas. Enterprise is nearing completion of a 147-mile, 350,000-b/d pipeline also expected to begin service second-quarter 2012. Phase II of this pipeline, including an 80-mile extension into the far southwest portion of the Eagle Ford shale, is expected to enter service first-quarter 2013. Long-term contracts with shippers anchor both phases.
Enterprise cited ECHO’s proximity to two large-diameter crude oil pipelines, including the Seaway system, as enhancing shipper flexibility in both Houston and Cushing, Okla.
EPP and its Seaway joint-venture partner Enbridge Inc. recently concluded an open season for capacity on both Seaway and a new pipeline running from ECHO to the Port Arthur-Beaumont refining center (OGJ Online, Jan. 5, 2012).
Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") today declared a cash distribution of $0.5325 per unit payable February 14, 2012 to unitholders of record on February 7, 2012.
Enbridge Energy Ptnrs L.P. (EEP) (33.37 +0.04)
Jan 30 (Reuters) - Enbridge Energy Partners LP : * Declares distribution and announces 2012 earnings guidance * Sees adjusted net income estimated to be between $510 million and $550 million in 2012 * Sees forecast capital expenditures of approximately $2.1 billion in 2012 * Says depreciation estimated to be between $320 million and $340 million in 2012 * Sees core maintenance capital expenditures of approximately $115 million in 2012 * Says annual distribution growth target of 2 to 5 percent * Says adjusted operating income estimated to be between $870 million and $910 million in 2012 * Says "increased oil volumes and expansion will be accretive" (Thomson Reuters 04:39 PM ET 01/30/2012)
Enbridge Energy Partners Defers Preliminary Review of 2011 Results of Operations
Enbridge Energy (NYSE:EEP)
Today : Thursday 26 January 2012
Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") previously announced that it expected to review its fourth quarter 2011 results of operations and discuss its business outlook on Tuesday, January 31, 2012. The Partnership will defer the portion of that review related to the financial results until it files its Annual Report on Form 10-K for the year ended December 31, 2011 in the normal course. The Partnership will discuss its business outlook review and present its 2012 earnings guidance on January 31, 2012.
The Partnership is delaying its review of the 2011 results while it concludes an investigation into accounting misstatements, which include both overstatements and understatements, at its trucking and natural gas liquids marketing subsidiary over a period of several years. This operation currently represents approximately 2 percent of the Partnership's recurring operating income.
Although the investigation is not concluded, at this time the accounting misstatements are believed to have occurred over a period from at least 2005 through 2011 and to have resulted in an overstatement of the Partnership's earnings through September 30, 2011 by a cumulative aggregate amount of approximately $17 million. The maximum cumulative overstatement of earnings is believed to have been approximately $26 million at December 31, 2009. These amounts are subject to adjustment as the investigation proceeds. The Partnership's net cash provided by operating activities was not misstated during these periods, and these misstatements are not expected to have an effect on the Partnership's future earnings, cash flows or distributions to its unitholders.
MANAGEMENT PRESENTATION OF 2012 GUIDANCE
Enbridge Partners will present its 2012 earnings guidance and provide an update on its business outlook in an Internet presentation, commencing at 10 a.m. Eastern Time on January 31, 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/5ok73wk5
The audio portion of the presentation will be accessible by telephone at (866) 831-6247 (Passcode: 44004220) and can be replayed until April 30, 2012 by calling (888) 286-8010 (Passcode: 51121072). An audio replay will also be available for download in MP3 format 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 liquid petroleum transportation and storage assets and natural gas gathering, treatment, processing, transportation and marketing assets 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. (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 23 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," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "projection," "strategy" or "will." Forward-looking 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; (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 most recently filed Annual Report on Form 10-K and 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.
Investor Relations Contact:
Sanjay Lad
Toll-free: (866) EEP INFO or (866) 337-4636
E-mail: Email Contact
Media Contact:
Terri Larson
Telephone: 1-877-496-8142
E-mail: Email Contact
Jan 4 (Reuters) - Enterprise Products Partners LP : * Enterprise and Enbridge begin open seasons for seaway expansion and new crude oil pipeline to Port Arthur/Beaumont refining market * Initial 150,000 barrels per day of capacity on reversed system could be available by Q2 2012 * Following pump station additions and modifications, capacity would increase to 400,000 bpd ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 (Thomson Reuters 06:57 PM ET 01/04/2012)
Enbridge Energy Ptnrs L.P. (EEP) (33.33 +0.03)
Enterprise Products Partners (EPD) (48.05 +0.83)
Jan 4 (Reuters) - Enterprise Products Partners LP and Enbridge Inc said on Wednesday they have begun concurrent binding open seasons to gauge shipper interest to expand the Seaway crude oil pipeline and a new pipeline that will be built from Enterprise's ECHO terminal to Port Arthur, Texas. The initial 150,000 barrel-per-day (bpd) of capacity on the reversed system would be available by the second quarter of 2012, the companies said in a statement. The new 85-mile pipeline that will be built from the ECHO crude oil terminal to the Port Arthur, Beaumont refining center will give shippers access to the region's heavy oil refining capabilities. In November, Enbridge and Enterprise Products signed a deal to reverse the Seaway pipeline that currently moves oil from the U.S. Gulf Coast to the oil storage hub at Cushing, Oklahoma. Enterprise shares closed at $47.22 on the New York Stock exchange, while those of Enbridge closed at C$37.30 on the (Thomson Reuters 07:34 PM ET 01/04/2012)
Enbridge Energy Ptnrs L.P. (EEP) (33.33 +0.03)
Enterprise Products Partners (EPD) (48.05 +0.83)
Jan 5 (Reuters) - The United Steelworkers (USW) said on Thursday it was looking for some oversight from legislators into the closure of three Philadelphia area refineries and the impact on prices of heating oil and gasoline in the Northeastern United States, as well as the nation's energy security. Two of the three refineries -- ConocoPhillips' Trainer refinery and Sunoco's Marcus Hook refinery -- are already shut down while Sunoco's Philadelphia refinery is still operating. It is slated for closure by July 2012 if a buyer hasn't been found. "There needs to be congressional oversight," said Denis Stephano, president of USW Local 10-234 at ConocoPhillips' Trainer plant. "They should require the CEOs to explain. And the state of Pennsylvania and the governor should be in the CEOs' office tomorrow." The union has had many verbal discussion with legislators in Congress about the shutdowns and plan to file shortly a formal, written request. According to reports from the Energy Information Administration, the data arm of the Department of Energy, the three refineries can process more than 700,000 barrels per day of oil, or (Thomson Reuters 05:29 PM ET 01/05/2012)
Enterprise & Enbridge Begin Open Seasons for Seaway Expansion & New Crude Oil Pipeline to Port Arthur/Beaumont Refining Market
(NYSE:EPD)
Today : Thursday 5 January 2012
Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) and Enbridge Inc. (“Enbridge”) (NYSE/TSX: ENB) today announced the start of concurrent binding open seasons to solicit capacity commitments from shippers for an expansion of the Seaway crude oil pipeline and a new pipeline that will be built from Enterprise’s ECHO terminal to Port Arthur, Texas. Enterprise and Enbridge recently announced plans to reverse the flow direction of the 500-mile, 30-inch diameter Seaway crude oil pipeline, enabling it to transport crude oil from the oversupplied hub in Cushing, Oklahoma to the U.S. Gulf Coast.
The initial 150,000 barrels per day (“BPD”) of capacity on the reversed system could be available by the second quarter 2012. Following pump station additions and modifications, which are expected to be completed by the first quarter 2013, capacity would increase to 400,000 BPD, assuming a mix of light and heavy grades of crude oil. Depending on the results of the open season, which began at 9 a.m. CST January 4, 2012 and continues through noon CST February 10, 2012, the Seaway pipeline could be looped (or “twinned”) to create additional capacity.
The new 85-mile pipeline that will be built from Enterprise’s ECHO crude oil terminal southeast of Houston to the Port Arthur/Beaumont, Texas refining center will give shippers access to the region’s heavy oil refining capabilities. Service is expected to begin in early 2014.
Enterprise and Enbridge each own a 50 percent interest in the Seaway pipeline system, with Enterprise serving as operator. Additional information about the open seasons is available online at www.seawaypipeline.com. For commercial inquiries, please contact:
Enbridge to expand Bakken shale crude rail terminal
Enbridge Energy Partners LP (EEP) will expand its Berthold rail terminal capacity in the Bakken shale by 80,000 b/d and include a rail car loading facility to accommodate the additional volume. EEP has contractual commitments for 70% of the rail loading capacity and anticipates it will soon finalize agreements for the remaining capacity.
Oil & Gas Journal
Enbridge Energy Ptnrs L.P. (EEP) (31.25 +0.29)
Dec 20 (Reuters) - Enbridge Inc : * Proceeding with gulf coast access project * Says secured sufficient capacity commitments from shippers to proceed with its Gulf Coast Access Project * The line is expected to be in service by mid 2014 at an estimated capital cost of approximately $1.9 billion * Says project will involve construction of an additional line from Flanagan South to cushing, Oklahoma * Says concurrent binding open season will be held on the joint venture seaway pipeline system ((Bangalore Equities Newsroom; (Thomson Reuters 06:00 PM ET 12/20/2011)
Key Gas Indicators Suggest
Another Midstream Push
by Dr. Kent Moors
Dear Oil & Energy Investor,
Volatility is not just about the direction of prices, or the frequency of market ups or downs.
It also manifests itself in ways you simply won't see on page 1 of the Wall Street Journal.
Take, for example, an intriguing situation in today's natural gas sector...
Every week, Baker Hughes Inc. (NYSE: BHI) releases a rig count, tallying the total number of rigs used in the extraction of both oil and natural gas here in the United States.
And after analyzing the numbers for the week ending Friday, December 9, what I found was surprising.
The company's weekly rig count indicated a decline of drilling rigs for gas wells.
However, the same report indicated a rise in rigs being used in oil fields.
The gas-rig-usage figure declined by 36 for the week and stands 128 below the count for this week in 2010. In contrast, oil rigs increased 29 for the week and is up approximately 50% (1,132 versus 763) over the same week last year.
Now such a decline in gas well drilling, coming off similar weakening numbers over the past month, seems to indicate that the market has concerns over too much gas supply coming on line too quickly.
With prices in gas futures contracts deflating - despite colder winter months approaching - the balance of supplies in the system becomes an important consideration.
This market sentiment, of course, is a result of the rapid acceleration in unconventional gas drilling, especially in shale basins such as the Marcellus, Fayetteville, and Barnett. And the continued emphasis on shale continues to be observed in the rig figures.
Last week, horizontal rig usage (used for both gas and oil shale wells, as well as some conventional applications) declined by five. However, the figure was still up by more than 19% -- 185 more rigs in use - compared to the same period a year ago.
Turn That Rig (Back) On
The transferred emphasis to oil (and the recently higher market prices) has prompted an increasing reliance on recommissioning already depleted wells back into service. The number of workover rigs in use (meaning those employed to upgrade existing wells back into service) continues to climb.This would appear to indicate a decreasing reliance on new gas drillings, as well as a return to crude oil.
Well, that is not as simple a conclusion as it would seem.
For one thing, the number of gas wells drilled over the last 18 months has been nothing short of staggering. The volume already flowing into the network has been increasing available gas for each of the last two years.
In fact, there is so much extractable shale gas that the overall amount available to the market could increase by 25% per year over the next few years.
And that would impact prices.
The average shale gas well is providing most of its volume in the first 12 to 24 months. Therefore, as demand increases (and it is, especially in the usage of gas to power electricity generation), the number of operating wells will have to rise in the near future.
So, the decline in drilling appears to be a temporary thing.
However, something else is happening that has improved the profitability expectations for a specific segment of the gas sector...
A Boost to Midstream Operations
Again, the "midstream" is where services exist between the fields where the gas is produced (upstream) and the primary processing, treatment, distribution and sales (downstream).
And as demand (especially industrial) rises, a shortfall is developing rather quickly......
Enbridge Energy Partners Announces Closing of 8.5 Million Class A Common Unit Offering
Enbridge Energy (NYSE:EEP)
Today : Wednesday 7 December 2011
Enbridge Energy Partners, L.P. (NYSE: EEP) ("the Partnership") announced today the closing of its previously announced public offering of 8.5 million of its Class A Common Units, that priced on December 2, 2011, at a price to the public of $30.85 per unit.
The Partnership expects to use the net proceeds from this offering of approximately $254 million to fund a portion of its capital expansion projects, for general partnership purposes or any combination of such purposes.
BofA Merrill Lynch, Morgan Stanley, Citigroup, J.P. Morgan, UBS Investment Bank, Wells Fargo Securities and RBC Capital Markets 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. Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from the underwriters as follows:
BofA Merrill Lynch
Attn: Prospectus Dept
4 World Financial Center
New York, NY 10080
Email: dg.prospectus_requests@baml.com
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd Floor
New York, NY 10014
Tel: (866) 718-1649
Email: prospectus@morganstanley.com
Citigroup
Attn: Prospectus Dept.
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, NY 11220
Tel: (800) 831-9146
Email: batprospectusdept@citi.com
J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (866) 803-9204
UBS Investment Bank
Attn: Prospectus Dept.
229 Park Avenue
New York, NY 10171
Tel: (888) 827-7275
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Tel: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
RBC Capital Markets
Attn: Prospectus Dept.
3 World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281-8098
Tel: (877) 822-4089
PARTNERSHIP INFORMATION
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and liquid petroleum transportation and storage assets and natural gas gathering, treatment, processing, transportation and marketing assets 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. (NYSE: EEQ) manages the business and affairs of the Partnership and its sole asset is an approximate 14 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta (NYSE: ENB) (TSX: ENB) is the general partner and holds an approximate 24 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," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "projection," "strategy" or "will." Forward-looking 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; (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.
Investor Relations Contact:
Sanjay Lad
Toll-free: (866) EEP INFO
(866) 337-4636
E-mail: eep@enbridge.com
Media Contact:
Terri Larson
Telephone: (713) 353-6317
E-mail: usmedia@enbridge.com
Enbridge to expand Bakken shale crude rail terminal
HOUSTON, Dec. 7
12/07/2011
By Christopher E. Smith
OGJ Pipeline Editor
Enbridge Energy Partners LP (EEP) will expand its Berthold rail terminal capacity in the Bakken shale by 80,000 b/d and include a rail car loading facility to accommodate the additional volume. EEP has contractual commitments for 70% of the rail loading capacity and anticipates it will soon finalize agreements for the remaining capacity.
The Berthold Rail Project includes construction of a double-loop unit-train facility, crude oil tankage, and other terminal facilities adjacent to its existing facilities near Berthold, ND. The project will have capacity to stage three unit-trains at Berthold at any given time. After an initial 10,000 b/d Phase I start-up in July 2012, the full 80,000 b/d of rail export capacity will enter service in early 2013.
EEP described the $145 million project as complementing its Bakken Expansion Program, integrating gathering pipeline capacity in western North Dakota and eastern Montana with increased North Dakota export capacity.
EEP expects Bakken Expansion, announced August 2010, to add 145,000 b/d of takeaway capacity from the Bakken and Three Forks formations in Montana, North Dakota, and southeast Saskatchewan, 25,000 b/d of which is already available (OGJ Online, Feb. 18, 2011). The company expects the remaining 120,000 b/d to enter service by early 2013, a slight delay from initial predictions of late 2012. The Bakken Expansion will cost roughly $370 million for the US projects and $190 million (Can.) for the Canadian projects.
EEP also announced the $90 million Bakken Access Program in October. Bakken Access involves increasing gathering pipeline capacities, construction of additional storage tanks, and addition of truck access facilities at multiple locations in western North Dakota to supply the Bakken Expansion.
Contact Christopher E. Smith at chriss@ogjonline.com.
Enbridge Energy Ptnrs L.P. (EEP) (30.59 -0.16)
Dec 6 (Reuters) - Enbridge Inc : * To undertake further expansion of North Dakota crude oil system * Says project will expand capacity into the Berthold Terminal By 80,000 barrels per day * Says partnership currently has contractual commitments for 70 percent of the rail loading capacity * Says anticipates it will soon finalize agreements for the remaining capacity. * Says project will include a rail car loading facility at the terminal to accommodate the additional volume * Says berthold rail project is scheduled to be in-service in early 2013 ((Bangalore Equities Newsroom; +91 80 4135 (Thomson Reuters 07:05 AM ET 12/06/2011 More...)
Enbridge Energy Ptnrs L.P. (EEP) (30.59 -0.16)
Dec 6 (Reuters) - Enbridge Inc said on Tuesday it will spend $145 million to boost the capacity of its Berthold, North Dakota, oil terminal to handle an additional 80,0000 barrels per day of crude from the prolific Bakken field and ship it to market by rail. Canada's No. 2 pipeline company said U.S. affiliate Enbridge Energy Partners LP has signed contracts with shippers for 70 percent of the new capacity and expects to soon have agreements in place for the remainder. The investment is in addition to the company's $560 million Bakken Expansion Project, which will add 145,000 bpd of pipeline capacity to serve rising production from the field. That project is expected to be complete by 2013. "Our Berthold rail project complements a series of expansions Enbridge has undertaken to expand transport capacity from North Dakota," Mark Maki, the partnership's president, said in a statement. Drilling in the prolific Bakken play has exploded due to technological (Thomson Reuters 05:36 PM ET 12/06/2011 More...)
Return to TOP
US Keystone rebuff turns Canada’s attention to Northern Gateway pipeline
Greens’ plan for British Columbia oil sands pipeline: We’ll talk it to death!
Aboriginal groups stand against Canadian oil pipeline .First cracks in Northern Gateway opposition as BC First Nation backs $5.5 billion pipeline
Frik Els | December 5, 2011 MINING DIGEST
CBC News reports a British Columbia First Nation has announced it’s backing the Northern Gateway pipeline project to ship oil sands crude to the West Coast, despite fierce opposition from dozens of other groups in the area.
Chief Elmer Derrick said the hereditary chiefs of the Gitxsan have accepted Enbridge Inc.’s offer of an equity stake in the $5.5 billion project. He expects the deal will provide at least $7 million of net profit to his people, according to CBC News.
Now that the TransCanada Corp’s Keystone XL pipeline appears dead, Ottawa and the Alberta oil industry have turned their attention to the Northern Gateway pipeline project that would stretch for 1,170km from Brudenheim in Alberta to Kitimat in northern British Columbia to. The pipeline will have the capacity to export approximately 525,000 barrels of oil per day and import approximately 193,000 barrels of condensate a day to a new marine terminal where up to 200 tankers per year would carry crude to market in China, Singapore and Korea.
But the $5.5 billion project which has significant Chinese backing, is already almost a year behind schedule and would not go into operation in 2017 at the soonest. Even this schedule is optimistic: starting in January, an unprecedented 4,000-plus people – the vast majority environmental activists – will speak for a collective 650 hours at public hearings. Read more about environmental efforts to block Northern Gateway.
MINING.com reported at the end of October the US state department’s anonymous leak to the media lowering expectations about a decision on Keystone this year should not have come as a surprise to anyone following Barack Obama’s poll numbers or the increasing bitterness on the left about his perceived closeness to industry.
Apart from environmental campaigners and clean energy proponents other players may also be rejoicing at the Keystone delay and the regulatory difficulties of Northern Gateway: MINING.com has argued that if Keystone XL is built the biggest losers will not be the Greens, it will be Big Oil: Keystone XL should bring Canadian crude, which at the moment sells at a steep discount, in line with global prices. At the same time a huge slice of the record profits of Chevron, ConocoPhillips and Exxon Mobil will we wiped out. Here’s why.
Meanwhile The Nation reported last week construction of Keystone XL may yet start sooner than 18 months from now: Republicans in the US Congress have launched two different attempts to resurrect the delayed, and possibly dead, Keystone XL pipeline. One was clearly a public relations stunt, but the other could present a much more serious problem for pipeline opponents
•Jan crude oil prices this morning are down -$1.39 a barrel at a 1-week low and Jan gasoline is +2.05 cents per gallon. Crude oil and gasoline prices last Friday settled lower on concern the ongoing European sovereign-debt crisis will slow global economic growth and energy demand along with speculation that the reversal of the Seaway pipeline won't be enough to curb excess crude inventories in the U.S. Midwest: CLF12 -$1.41, RBF12 -2.87. Jan gasoline fell to a 1-1/2 month low. Bearish factors included (1) concern the ongoing European debt crisis will slow global economic growth and energy demand and (2) speculation the recent rally in crude prices due to Enbridge's announcement that it will reverse the flow of the Seaway pipeline was overdone as it won't be until Q2 of 2012 at the earliest that the reversal of the pipeline begins to drawdown crude supplies at Cushing, Oklahoma, the storage hub for WTI. Bullish factors included (1) the weaker dollar, which boosts inves tment demand for commodities, and (2) API data that showed Oct U.S. fuel demand increased +2.5% y/y to 19.4 million barrels a day, the highest level for an Oct in 3 years. BARCHART.COM
Cushing MarketLink oil pipeline moving forward; Wrangler under evaluation
HOUSTON, Nov. 18
By Christopher E. Smith
OGJ Pipeline Editor
TransCanada Corp. still plans to build its Cushing MarketLink crude oil pipeline between Cushing, Okla., and the Texas Gulf Coast, despite plans to reverse the Seaway pipeline to deliver crude along a similar route. Enbridge (US) Inc. and Enterprise Products Partners LP, meanwhile, are evaluating plans for the 800,000 b/d newbuild Wrangler pipeline in the wake of the reversal decision.
Enbridge bought ConocoPhillips’s share of Seaway earlier this week, joining with EPP in its ownership and jointly announcing that its flow would be reversed to deliver crude from Cushing to the Gulf Coast (OGJ Online, Nov. 16, 2011). Initial capacity of the reversed pipeline will be 150,000 b/d, but will reach 400,000 b/d by early 2013, according to EPP.
EPP also said the companies plan to expand Seaway beyond the 400,000 b/d mark, and will start an open season in January 2012 to gauge shipper interest in the additional capacity, believing the 400,000 b/d will be fully subscribed.
EPP stopped short, however, of saying it had cancelled the 800,000 b/d Wrangler pipeline outright, saying only that its “plans for bringing crude down form Cushing had obviously changed (OGJ Online, Sept. 29, 2011).”
TransCanada held a binding open season for its 150,000 b/d Cushing MarketLink pipeline earlier this year, and told OGJ that the Seaway reversal would not affect its plans to build the pipeline. TransCanada expects the pipeline to be in service by mid-2013.
The Canadian Association of Petroleum Producers estimated US demand for Western Canadian crude in 2015 as at least 380,000 b/d based on contractual commitments to TransCanada’s Keystone XL pipeline (OGJ Online, June 2, 2011). The Seaway reversal and construction of Cushing MarketLink will not only help meet some of this demand while Keystone XL awaits approval from the US Department of State (OGJ Online, Nov. 10, 2011), but will also make other crude volumes currently bottlenecked in the Midcontinent more readily available on the Gulf Coast.
Increased pipeline capacity into Cushing, and limited ability to move the arriving crude out, has resulted in more oil flowing into the Midcontinent than the refinery system there can handle, holding prices for West Texas Intermediate crude at persistent discounts to Brent and other comparable global crudes.
WTI’s discount to Brent reached less than $10/bbl in the wake of the announcement, from more than $25/bbl a few weeks ago (OGJ Online, Nov. 17, 2011).
Contact Christopher E. Smith at chriss@ogjonline.com.
Tank up on U.S. Oil & Gas pipelines, says Fund
http://www.reuters.com/article/2011/11/17/masterlimitedpartnerships-idUSL3E7MB26V20111117
ConocoPhillips to sell interests in 2 pipelines
The Associated Press
Last modified: 2011-11-16T14:24:22Z
Published: Wednesday, Nov. 16, 2011 - 6:24 am
Copyright 2011 .
HOUSTON -- ConocoPhillips says it plans to sell its interests in two pipeline companies for a total of $2 billion.
The Houston oil and natural gas company announced Wednesday that a subsidiary of a Canadian pension plan will buy its 16.55 percent investment in Colonial Pipeline Co. and Colonial Ventures LLC. A subsidiary of Enbridge Inc. will buy its stake in the Seaway Crude Pipeline Company.The sales are part of Conoco's ongoing plan to shrink the company to focus on its most profitable businesses. Conoco also plans to split into two companies: one that explores and produces oil and gas; and another that refines it into fuel.
(The ConocoPhillips-Enbridge Seaway deal was for $1.15 billion)
Seaway oil pipe to be reversed after Enbridge deal
Wed Nov 16, 2011 8:08pm IST
(Reuters) - Enbridge Inc (ENB.TO) surged past its competitors in the race to send large volumes of oil locked up in the U.S. midcontinent to the giant Gulf Coast refining hub after the $1.15 billion acquisition of ConocoPhillip's (COP.N) Seaway pipeline.
Enbridge and Enterprise Products Partners (EPD.N), which owns the other 50 percent of the 350,000 barrel-per-day Seaway pipeline, said on Wednesday they plan to reverse the pipeline that currently moves oil from the U.S. Gulf Coast to the oil storage hub at Cushing, Oklahoma.
Reversing the pipeline will increase the flow of crude from Cushing, the delivery point of the New York Mercantile Exchange's oil futures contract, to the Gulf Coast.
The reversed line could be in service at an initial capacity of 150,000 bpd by the second quarter of 2012, Enbridge said. Station additions and modifications needed to ramp up flow rates to 400,000 bpd will be completed by early 2013.
Enbridge's acquisition of the stake in Seaway is expected to be completed in December, ConocoPhillips said.
Inventories in the U.S. Midwest have swelled this year due to rising supplies from Canada and North Dakota, helping to drive the premium of Brent crude to U.S. oil futures to record highs over $28 a barrel in October.
The premium of international benchmark Brent crude to U.S. oil futures dropped nearly $3 to below $10 a barrel following the news, the lowest level since March 2011.
In another deal, Conoco also said it will sell its 16.55 percent interest in Colonial Pipeline Co and Colonial Ventures LLC to a subsidiary of pension fund Caisse de Depot et Placement du Quebec.
Conoco's pipeline deals, part of its strategy to shed assets it no longer considers strategic, totaled $2 billion, the U.S. oil company said.
(Reporting by Anna Driver in Houston and Matt Robinson and Mike Erman in New York, editing by Gerald E. McCormick and Jim Marshall)
Chesapeake signs as anchor shipper on EPP Marcellus-Utica ethane line
Chesapeake Energy Corp. has signed a long-term contract as anchor shipper on Enterprise Products Partners LP’s proposed long-haul ethane pipeline from the Marcellus and Utica shale regions in Pennsylvania, West Virginia, and Ohio to the US Gulf Coast.
EDF EN Canada Inc., and EEP partner in the 300 MW Lac Alfred wind project in Quebec. EEP will invest $330 million to acquire 50% interest in the project.
Enbridge Energy Management, L.L.C. Confirms Amount of Share Distribution for Third Quarter 2011
Enbridge Energy (NYSE:EEP)
Today : Wednesday 2 November 2011
Enbridge Energy Management, L.L.C. (NYSE: EEQ) ("Enbridge Management") today confirmed that its previously declared share distribution, to be paid on November 14, 2011, will consist of 1.7588 additional shares for each 100 shares of record on November 4, 2011.
The distribution of additional Enbridge Management shares is based on the notional cash value of the declared distribution of $0.5325 per share and the average closing price of Enbridge Management shares for the ten consecutive trading days prior to the ex-dividend date.
Enbridge Management (www.enbridgemanagement.com) manages the business and affairs of, and its principal asset is an approximate 13 percent interest in, Enbridge Energy Partners, L.P., a master limited partnership that owns the U.S. portion of the world's longest liquid petroleum pipeline system and is active in natural gas gathering, processing and transmission.
Investor Relations Contact:
Margaret Liu
Toll-free: (866) 337-4636
Toll-free: (866) EEQ INFO
E-mail: eeq@enbridge.com
EPP to expand Eagle Ford gas treatment, pipeline capacities
HOUSTON, Nov. 2
By Christopher E. Smith
OGJ Pipeline Editor
Enterprise Products Partners LP will build new gas processing and pipeline capacity in South Texas, expanding its natural gas and NGL infrastructure to accommodate expected production growth from the Eagle Ford shale. EPP will add a 300 MMcfd train at its Yoakum cryogenic natural gas processing facility in Lavaca County, Tex., and 62 miles of 24-in. and 30-in. OD pipeline loops in the region. The company will also add sufficient compression to boost transport capacity by 300 MMcfd.
The newly announced facilities are expected to begin service first-quarter 2013.
EPP is already building an Eagle Ford rich natural gas mainline system and associated laterals consisting of roughly 300 miles of pipeline with gathering and transportation capacity of more than 600 MMcfd. The Yoakum natural gas processing facility already has 600 MMcfd of capacity under construction, expected to begin service second-quarter 2012. The new Yoakum plant will complement the partnership's seven existing natural gas processing plants in South Texas with total capacity of 1.5 bcfd.
To handle the additional NGLs from the cryogenic facility, EPP has increased the OD of its 127-mile Y-grade pipeline running between the Yoakum plant and EPP’s fractionation complex at Mont Belvieu, Tex., to 24-in. from 20-in. EPP put a fifth NGL fractionator at Mont Belvieu into service last month, bringing total capacity to 380,000 b/d, and already has a sixth under construction (OGJ Online, Oct. 18, 2011).
About 195 drilling rigs are active in the play as of end third-quarter 2011, compared with roughly 105 rigs in third-quarter 2010, according to EPP.
Contact Christopher E. Smith at chriss@ogjonline.com.
FITCH: CREDIT DEFAULT SWAPS WIDENED OIL &GAS SEASONABILITY BY 48%
http://uk.reuters.com/article/2011/11/01/idUKWLA822120111101
Obama puts off Keystone decision. Quelle surprise.
Frik Els | October 26, 2011
The US state department’s anonymous leak to the media on Tuesday lowering expectations about a decision on Keystone this year should not come as a surprise to anyone following Barack Obama’s poll numbers or the increasing bitterness on the left about his perceived closeness to industry.
The opposition to the Keystone project – now in its governmental review phase after public hearings concluded 14 October – has become so rancorous that if Obama should approve the pipeline now he would be starting his re-election campaign with little left of his traditional support base.
With many moderates flocking to the Republican party or simply deciding not to vote this time, political pundits are saying without his core support Obama’s chances of becoming a one-term president would increase dramatically. Moreover, Obama could be timing the decision – consensus seems to be that the state department will approve Keystone – to make the maximum impact during his campaign. Joblessness is bound to stay the foremost election issue and the $7 billion pipeline is one of a handful shovel-ready projects in the US.
MINING.com reported earlier in October that the left’s Keystone outrage is now centred on allegations of cronyism on the part of Obama’s administration.
Another reason to keep kicking the Keystone hot potato down the road is that the importance to the US of Alberta’s oil is diminishing. MINING.com has argued that the lack of pipelines may not be the greatest threat to the oil sands:
Even if both TransCanada’s (NYSE:TRP) Keystone XL and Enbridge’s (TSE:ENB) Northern Gateway pipelines are built bitumen is expensive to extract, upgrade and refine and cannot compete with the many new shale oil plays – particularly in the Bakken oil basin – which have pushed US production to its highest level in a decade and could see it become the planet’s number one producer of crude.Click here for MINING.com’s dedicated Keystone XL page.
Enbridge may hop onboard for Cushing crude by rail
* Enbridge mulls joint venture rail project at Cushing
* Enbridge sees rail viable even with pipeline
By Janet McGurty
NEW YORK, Oct 6 (Reuters) - Enbridge Inc. may build a rail terminal at the Cushing, Oklahoma oil hub in addition to a planned pipeline, aiming to ship rising crude volumes from the Midwest to the giant Gulf Coast refining market.
The Canadian company announced in September plans to build an 800,000 barrel per day Wrangler pipeline with Enterprise Products Partners LP. to take crude from Cushing terminal to refiners in Houston and Port Arthur.
Rising volumes of crude from the oil sands of Canada and North Dakota's Bakken Shale sent inventories at Cushing and throughout the Midwest to record levels this year due to a lack of pipeline capacity necessary to ship the crude on to the Gulf Coast.
Enbridge said it is also considering a rail terminal at the oil hub to serve smaller producers.
"We'll decide within the next couple of months (on the project," said Patrick Daniel, chief executive officer of the Calgary-based energy transport company told Reuters.
He added many of the smaller players in the Bakken shale oil play and other unconventional U.S. oil deposits are not able to make the 20-year long-term commitment needed by pipelines to make them economically viable.
"People are looking for any way out of Dodge with their crude oil because there is so much there," said Daniel.
Daniel would not disclose the name of the possible joint venture partner but said it had experience in rail terminals.
IN GOOD COMPANY
Enbridge is not alone in looking for the key to unlocking the value of the crude oil stockpiled at Cushing, Oklahoma, the delivery point for the benchmark NYMEX futures contract.
West Texas Intermediate , a good quality light, sweet crude oil, is trading at a $20-plus discount to other crudes, including North Sea Brent and similar Gulf of Mexico crudes like Light Louisiana Sweet .
Several pipeline projects are on the drawing board to relieve this glut, most notably TransCanada's 500,000 barrel per day Keystone XL pipeline which has sparked opposition from environmentalists.
While markets await final decisions and approvals for proposed pipelines, traders have sought to ship crude to the Gulf Coast by rail, truck and even barge.
ALL ABOARD
Current capacity of crude-by-rail shipments from the Bakken into Cushing is about 130,000 barrels per day, with hopes by producers like Hess Corp. and others to expand it to about 500,000 bpd.
In July, production from the Bakken shale oil reached 420,000 barrels per day in July and is expected to keep growing.
EOG Resources, one of the largest oil producers in Bakken began transporting Bakken crude oil from North Dakota to a 90,000 barrel per day terminal on the outskirts of Cushing in 2009.
EOG has two massive 600,000-barrel storage tanks at its Stroud terminal, accessible to Cushing oil tanks by a 17.4 mile, 12" pipeline, as well as leasing about 270,000 barrels of storage capacity in Cushing itself.
Major U.S. midstream operator, Kinder Morgan Energy Partners , is also in the mix working with Watco Transportation Services LLC to build a facility to handle large unit train volumes of crude out of Bakken. .
(Additional reporting by Edward McAllister and Selam Gebrekidan; Editing by David Gregorio)
((janet.mcgurty@thomsonreuters.com; Reuters Messaging: janet.mcgurty.reuters.com@reuters.net; 646 226 3027))
BRIEF-Enterprise begins open commitment period for Texas express pipeline capacity
Oct 5 (Reuters) - Enterprise Products Partners LP :
* Begins open commitment period for Texas express pipeline capacity
* Start of binding open commitment period for available capacity on new natural gas liquids pipeline
* Initial capacity on Texas express will be approximately 280,000 barrels per day
* Initial capacity on Texas express can be expanded to about 400,000 bpd or more depending on shipper interest
* Says pipeline is expected to begin service in the second quarter of 2013
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
Thomson Reuters
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
131
|
Created
|
09/01/11
|
Type
|
Free
|
Moderators |
|
Attractive YieldAn investment in Enbridge Energy Partners offers an attractive yield coupled with a favorable tax treatment resulting in a high tax deferral rate for investors. While we operate under a low-risk business model, our yield is among the highest when compared to other large capitalization, investment-grade Master Limited Partnerships (MLPs) or when compared to other asset classes such as Real Estate Investment Trusts (REITs). Stable Distribution, Prudent GrowthThe Partnership has increased its cash distribution by 70% in the past 20 years. In our view, distributions have to be sustainable in the long term, and as a result, we believe in increasing distributions when there are solid factors underpinning these increases. Low-risk Business ModelEnbridge Energy Partners maintains a diversified portfolio of crude oil long-haul pipelines, crude oil storage facilities and natural gas gathering and processing assets located in the United States. As a midstream company, a high percentage of our revenues is derived from long-term, fee-based agreements, which provide a low-risk proposition to our investors. Strong General PartnerEnbridge Inc. is a leader in the energy delivery business in North America. Enbridge Inc. is the general partner of Enbridge Energy Partners and is the largest unit holder with an approximate ownership of 26%. It owns the Canadian portion of the largest crude oil pipeline system in the world while Enbridge Energy Partners owns the U.S. portion. To learn more about MLPs, Please visit the National Association of Publicly Traded Partnerships website Liquids Pipelines We are uniquely positioned to provide transportation solutions to connect growing production from Alberta's oil sands to key U.S. refinery markets and beyond. During the last several years, our market strategy has set the stage for crude oil moving through our Lakehead System to secure further penetration into the Midwest and Mid-Continent regions as well as entry into the refining center of the U.S. Gulf Coast-which together process 70 percent of U.S. refined products. The three major systems in the Liquids Pipelines segment transported an average of 1.9 million barrels per day in 2008 and have a combined 29 million barrels of crude oil storage capacity. Enbridge Liquids Pipelines are owned by Enbridge Energy Partners, L.P. and Enbridge (U.S.) Inc., an indirect and wholly owned subsidiary of Enbridge Inc. Click on "Ownership Map" to the left for detailed pipeline ownership information. Gas Transportation Enbridge owns and operates approximately 10,000 miles of natural gas gathering, treating, processing and transmission systems as well as marketing and trucking operations. These systems gather natural gas from the wellhead, treat and process the gas for delivery into intrastate or interstate pipelines for transmission to wholesale customers such as power plants, industrial customers and local distribution companies. Enbridge natural gas operations are located primarily in the Mid-Continent and Gulf Coast regions. Our three large gathering and processing systems in Texas are located in basins that have experienced recent growth in mineral leasing, drilling and production. Our focus is on acquiring assets with strong growth prospects located in these areas and optimizing these systems through enhancing interconnections and processing capabilities. Enbridge Gas Transportation assets are owned by Enbridge Energy Partners, L.P. and Enbridge (U.S.) Inc., an indirect and wholly owned subsidiary of Enbridge Inc. Click on "Ownership Map" to the left for detailed pipeline ownership information.
|
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |