Natural Gas Utilities

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Energy Transfer Partners LP increases quarterly cash distribution

Monday, 26 Jan 2015 09:15am EST

Energy Transfer Partners LP:Approves $0.02 increase in quarterly distribution to $0.995 per ETP common unit ($3.98 annualized) for the quarter ended Dec. 31, 2014.Cash distribution will be paid on Feb. 13, of record on Feb. 6.

Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015 09:05am EST

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015 09:05am EST

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

American Midstream Partners LP sees FY 2014 EBITDA guidance at low end prior range

Thursday, 22 Jan 2015 04:08pm EST

American Midstream Partners LP:Expects FY 2014 Adjusted EBITDA to be at the low end of partnership's guidance range of $46 million to $48 million.FY 2014 EBITDA of $44 million - Thomson Reuters I/B/E/S.

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