Tallgrass Energy Partners (TEP)

[Fibanotch]

will she hold the bounce

[eastunder]

Tallgrass Energy Increases Quarterly Distributions and Announces Date for Fourth Quarter 2017 Financial Results

Business WireJanuary 8, 2018

https://finance.yahoo.com/news/tallgrass-energy-increases-quarterly-distributions-211500131.html


LEAWOOD, Kan.--(BUSINESS WIRE)--

Tallgrass Energy Partners, LP (TEP) and Tallgrass Energy GP, LP (TEGP) (“Tallgrass”) today announced their quarterly distributions for the fourth quarter of 2017. The distributions will be paid on Wednesday, February 14, 2018, to unitholders and shareholders of record as of the close of business on Wednesday, January 31, 2018.

TEP

The board of directors of TEP’s general partner declared a quarterly cash distribution of $0.965 per common unit for the fourth quarter of 2017, or $3.86 on an annualized basis. This represents a sequential increase of 2.1 percent from the third quarter 2017 distribution of $0.945 per common unit and an increase of 18.4 percent from the fourth quarter 2016 distribution of $0.815 per common unit. It is TEP’s 18th consecutive increase since its May 2013 IPO.

TEGP

The board of directors of TEGP’s general partner declared a quarterly cash distribution of $0.3675 per Class A share for the fourth quarter of 2017, or $1.47 on an annualized basis. This represents a 3.5 percent sequential increase from the third quarter 2017 distribution of $0.3550 per Class A share and an increase of 32.4 percent from the fourth quarter 2016 distribution of $0.2775 per Class A share. It is TEGP’s 10th consecutive increase since its May 2015 IPO.

Fourth Quarter 2017 Financial Results and Conference Call

Tallgrass plans to report fourth quarter 2017 financial results and release 2018 financial guidance on Tuesday, February 13, 2018, and hold a conference call at 3:30 p.m. Central Time that same day.

Tallgrass invites unitholders, shareholders and other interested parties to listen to the call through a link posted on the Investor Relations section of Tallgrass’s website at www.tallgrassenergy.com.

[eastunder]

Tallgrass Makes 2 Acquisitions and Significant Developments

Zacks Equity Research

January 5, 2018

https://finance.yahoo.com/news/tallgrass-makes-2-acquisitions-significant-184006823.html


Midstream oil firm Tallgrass Energy Partners, LP TEP has recently reported that the partnership has agreed to make two acquisitions through its subsidiary, Tallgrass Terminals LLC. The firm has also taken a few commercial development steps to increase its bouquet of various services.

Pawnee Terminal Acquisition and Others

The partnership will buy 51% membership interest in the crude oil terminal at Pawnee, CO from Zenith Energy for around $31 million. The terminal serves as an injection point of the partnership's Pony Express Northeast Colorado Lateral (“NECL”) with a storage capacity of 300,000 barrels of crude oil. The NECL has around 90,000 barrels per day (bpd) minimum volume commitments. The deal will provide NECL with commercial and operational synergies and also benefit the adjacent crude oil producers. The deal is expected to be closed in the first quarter of 2018.

Apart from this acquisition, Tallgrass made a commercial development and an extension to further more diversify the services offered by NECL. Through a successful binding open season, Tallgrass secured shipper contracts for the 55-mile pipeline extension. Operation on the 40,000 barrels per day extension is expected to begin in April 2018.

Moreover, crude shippers of NECL drafted around 325,000 barrels per day consignment for January 2018, numerically, the highest per day in a month so far. Additionally, Tallgrass' Holly Frontier El Dorado and CHS McPherson, Kan. refinery connections are ready for use and coming online this month only. This will enable the clients to ship more than 300,000 barrels per day to the refineries connected to NECL.

Deeprock North Acquisition

For $19.5 million, Tallgrass Terminals acquired 38% stake in Deeprock North, LLC, which holds a crude oil terminal in North Cushing, OK. The terminal is contiguous to the crude oil terminal facility of Deeprock Development, LLC, a subsidiary of Tallgrass Terminals. The deal helped Deeprock Development merge with Deeprock North. Tallgrass Terminals currently holds about 60% of the combined entity, enabling it to possess a large and diverse terminalling complex. Following the merger, the complex now has a total storage capacity of 4 million barrels.