Oil / Gas Transportation Services
TC PipeLines LP Completes Acquisition Of Additional Interests In GTN and Bison
TC PipeLines, LP announced the closing of its acquisition of an additional 45% interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from subsidiaries of TransCanada Corporation. The acquisition is expected to be immediately accretive to Partnership cash flows and earnings. The Partnership funded the $1.05 billion acquisition with net proceeds of approximately $381 million from its equity offering in May, a new five year $500 million term loan from the Partnership's syndicate of lenders, $146 million of existing debt at GTN and the balance of $23 million drawn from its credit facility.
TransCanada Corp Expands Renewable Energy Portfolio, Acquires Brockville 1 Solar Facility
TransCanada Corp announced that it has completed the acquisition of the first of nine Ontario solar power facilities from Canadian Solar Solutions Inc. The combined capacity of the nine projects is 86 megawatts (MW) and the cost of the portfolio will be approximately $470 million. TransCanada anticipates the remaining eight projects will come into service by the end of 2014.
Magellan Midstream Partners LP Closes Texas-New Mexico Pipeline Assets Acquisition From Plains All American Pipeline
Magellan Midstream Partners LP announced that it has closed on its previously-announced acquisition of pipeline assets in Texas and New Mexico from Plains All American Pipeline LP. The pipeline system includes approximately 250 miles of common carrier pipeline that transports refined petroleum products from El Paso, Texas, delivering products north to Albuquerque, New Mexico and transporting products south to the U.S.-Mexico border for delivery within Mexico via a third-party pipeline. Magellan's acquisition of the previously-announced Rocky Mountain pipeline system is pending, subject to approval by the Federal Trade Commission. The Rocky Mountain acquisition includes approximately 550 miles of common carrier pipeline that distributes refined petroleum products in Colorado, South Dakota and Wyoming. Of the previously-announced combined purchase price of $190 million, $57 million was allocated to the Texas-New Mexico pipelines, which Magellan funded with cash on hand.
SeaDrill Ltd's Subsidiary Enters Sale and Leaseback Transactions with Ship Finance Totaling USD 600 Million for West Linus
SeaDrill Ltd announced that the company's subsidiary North Atlantic Drilling (NADL) and Ship Finance International Limited (Ship Finance) have signed an agreement on a combined sale and leaseback arrangement whereby Ship Finance will acquire the harsh environment jack-up drilling rig West Linus from a subsidiary of NADL. The West Linus is currently under construction at Jurong Shipyard in Singapore with scheduled delivery in December 2013. he total acquisition cost will be USD 600 million and the drilling rig will be chartered back to NADL on a bareboat contract for a period in excess of 15 years. NADL has been granted four purchase options, the first of which will occur after five years and the last at the end of the charter period. Ship Finance will also have an option to sell the rig back to NADL at the end of the charter period. NADL has sub-chartered the rig to ConocoPhillips Skandinavia AS (ConocoPhillips) for a period of five years with 2, two-year extension options. Expected delivery to ConocoPhillips is April 2014 and the rig will be at a mobilization rate from the delivery from the shipyard until commencement of the sub-charter. USD 195 million of the purchase price has been received by NADL in June 2013, and the remaining USD 405 million will be received on delivery from the shipyard in December 2013.
North Atlantic Drilling Ltd And Ship Finance International Limited Announces New Sale And Leaseback Transactions Totalling USD600 Million
North Atlantic Drilling Ltd and Ship Finance International Limited announced an agreement to a combined sale and leaseback arrangement whereby Ship Finance will acquire the harsh environment jack-up drilling rig West Linus from a subsidiary of NADL. The West Linus is currently under construction at Jurong Shipyard in Singapore with scheduled delivery in December 2013. The total acquisition cost will be USD600 million and the drilling rig will be chartered back to NADL on a bareboat contract for a period in excess of 15 years. NADL has been granted four purchase options, the first of which will occur after five years and the last at the end of the charter period. Ship Finance will also have an option to sell the rig back to NADL at the end of the charter period. NADL has sub-chartered the rig to ConocoPhillips Skandinavia AS (ConocoPhillips) for a period of five years with 2, two-year extension options. Expected delivery to ConocoPhillips is April 2014 and the rig will be at a mobilization rate from the delivery from the shipyard until commencement of the sub-charter. USD195 million of the purchase price has been received by NADL in June 2013, and the remaining USD405 million will be received on delivery from the shipyard in December 2013. The debt financed portion of the total price will be USD475 million in total, of which USD70 million will be funded now, and USD405 million at delivery from the shipyard.
Tesoro Logistics LP's Subsidiaries Acquires Northwest Products System-Form 8-K
Tesoro Logistics LP reported in its Form 8-K that on June 19, 2013, Tesoro Logistics Northwest Pipeline LLC and Tesoro Logistics Operations LLC, subsidiaries of Tesoro Logistics LP (Partnership), acquired the Northwest Products System from Chevron Pipe Line Company and Northwest Terminalling Company. The Northwest Products System consists of the Northwest Product Pipeline, a 760-mile Federal Energy Regulatory Commission-regulated common carrier products pipeline extending from Salt Lake City, Utah to Spokane, Washington, a 5-mile jet fuel pipeline to the Salt Lake City International Airport, certain products terminal rights, properties, facilities and equipment located at Boise and Pocatello, Idaho and Pasco, Washington. The purchase price for the Northwest Products System was $354.8 million, which includes adjustments for working capital and is subject to post closing adjustments. The amount paid at closing was reduced by an advance deposit of $40 million, that the Partnership paid in December 2012 upon execution of the asset purchase and sale agreements. The Partnership financed the acquisition with proceeds from its offering of common units in January 2013.
Teekay Offshore Partners LP Agrees To Acquire 50% Interest In The Cidade De Itajai Fpso Unit For Approximately $204 Million From Teekay Corporation
Teekay Offshore Partners LP announced that it has agreed to acquire a 50% interest in the Cidade de Itajai (Itajai) floating production, storage and offloading (FPSO) unit from Teekay Corporation (Teekay) for a purchase price of approximately $204 million. The acquisition will be financed with assumed debt and proceeds from the recently completed equity private placement. The acquisition is expected to be completed on June 1, 2013, subject to customary closing conditions. The Itajai FPSO is operating on the Bauna and Piracaba (previously named Tiro and Sidon) fields in the Santos Basin offshore Brazil under a nine-year fixed-rate time-charter contract (plus extension options) with Petroleo Brasileiro SA (Petrobras). The remaining 50% interest in the Itajai FPSO is owned by Brazilian-based Odebrecht Oil & Gas S.A. The Partnership's 50% interest in the Itajai FPSO unit, which will be equity accounted for, is expected to generate annual Cash Flow from Vessel Operations of approximately $25 million, and annual Distributable Cash Flow of approximately $14 million.
Markets
- Sectors
- U.S.
- Europe
- Asia
Sector Summary
| Energy |  -0.29% |
| Basic Materials | -1.05% |
| Industrials | -0.75% |
| Cyclical Goods & Services | -0.11% |
| Non-Cyclical Goods & Services | -0.44% |
| Financials | -0.45% |
| Healthcare | -0.58% |
| Technology | -0.29% |
| Telecoms | -0.13% |
| Utilities | -0.81% |
| DOW | 14,929.93 | -45.03 |
-0.30% |
| S&P 500 | 1,613.32 | -1.64 |
-0.10% |
| NASDAQ | 3,431.48 | -3.01 |
-0.09% |
| TR US Index | 146.09 | -0.56 |
-0.38% |
+246.24Analyst Research
| Report Title | Price |
|---|---|
|
Provider: Bohai Securities Co.,Ltd.
|
$161.00
|
|
Provider: Thomson Reuters StreetEvents
|
$39.00
|
|
Provider: Bohai Securities Co.,Ltd.
|
$23.00
|
|
Provider: Thomson Reuters StreetEvents
|
$39.00
|
|
Provider: Wright Reports
|
$35.00
|
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
