Key Developments For Copano Energy, L.L.C.
Copano Energy, L.L.C. (CPNO.O) (Nasdaq)
Copano Energy, L.L.C. Issues Statement Regarding Passing Of Chairman And Chief Executive Officer John R. Eckel, Jr.; Appoints R. Bruce Northcutt as President And CEO; William L. Thacker As Chairman
Copano Energy, L.L.C. announced that John R. Eckel, Jr., the Company's Chairman and Chief Executive Officer, has passed away. Mr. Eckel had been on a medical leave of absence since November 4, 2009 and recently suffered liver failure. The Company also announced that its Board has appointed R. Bruce Northcutt, the Company's President and Chief Operating Officer, as President and Chief Executive Officer (CEO) and a member of Copano Energy, L.L.C.'s Board of Directors. Additionally, William L. Thacker, who has served on Copano Energy, L.L.C.'s Board has been elected Chairman.
Kinder Morgan Energy Partners and Copano Energy Announce New Eagle Ford Shale Pipeline Project
Kinder Morgan Energy Partners and Copano Energy, L.L.C. announced they have entered into a letter of intent for a 50/50 joint venture to provide gathering, transportation and processing services to natural gas producers in the Eagle Ford Shale resource play in south Texas. The joint venture will construct, as a first phase, an approximately 22-mile, 24-inch natural gas gathering pipeline and will enter into new commercial arrangements with Kinder Morgan and Copano Energy. The natural gas pipeline will originate in LaSalle County, Texas, and terminate in Duval County, Texas, and will have an initial capacity of 350 million cubic feet per day. The pipeline is expected to be completed in mid-year 2010. The letter of intent contemplates, and the joint venture is subject to, negotiating an extension of existing contracts between Copano Energy and Kinder Morgan, including their processing and transportation agreements. The transactions reflected in the letter of intent are subject to the execution of definitive agreements and the receipt of any required approvals.
Copano Energy, L.L.C. Announces John R. Eckel, Jr Chairman And CEO Has Taken Indefinite Leave Of Absence For Medical Reasons-Form 8-K
Copano Energy, L.L.C. reported in its Form 8-K that effective November 4, 2009, John R. Eckel, Jr., Chairman of the Board and Chief Executive Officer (CEO), has taken an indefinite leave of absence for medical reasons. Mr. Eckel is expected to make a full recovery over the next several months. During his absence, Mr. Eckel's responsibilities will be assumed by the remaining members of Copano's senior management team. In addition, Copano's Board of Directors has taken action to extend interim principal executive authority to R. Bruce Northcutt, Copano's President and Chief Operating Officer.
Copano Energy, L.L.C. Names Carl Luna As Senior Vice President And Chief Financial Officer
Copano Energy, L.L.C. announced the appointment of Carl A. Luna as its Senior Vice President and Chief Financial Officer, effective immediately.
Copano Energy, L.L.C. Maintains Quarterly Cash Distribution
Copano Energy, L.L.C. announced that a cash distribution for the third quarter of 2009 of $0.575 per unit, or $2.30 per unit on an annualized basis, for all of its outstanding common units. This distribution is equal to its distribution of $0.575 per unit for the second quarter of 2009. The distribution will be payable on November 12, 2009, to holders of record of common units at the close of business on November 2, 2009.
