NuStar Energy L.P. (NS) announced the closing of its 5,750,000 common units of public offering, representing $52.45 per unit limited partner interest. Of this, 750,000 units were sold to underwriters. Total net proceeds from the public offering were $289 million, including the additional common units sold.   The partnership expects to use the proceeds of the public offering for general partnership purposes, including potential future acquisitions and growth capital expenditures. Net proceeds include the general partner’s − NuStar GP Holdings LLC (NSH) − proportionate capital contribution of $6.15 million. Pending the use of the proceeds for other purposes, the partnership intends to apply some or all of the net proceeds to reduce outstanding borrowings under its revolving credit facility.   NuStar Energy L.P. is a publicly traded limited partnership, with 8,417 miles of pipeline, 82 terminal facilities, four crude oil storage tank facilities and two asphalt refineries ...

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Thursday October 29, 2009

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Power3 Medical Products, Inc. (OTCBB: PWRM), a leader in neurodegenerative disease and cancer biomarkers and diagnostic tests, announces further international recognition of validity as the company’s President and CSO, Dr. Ira Goldknopf, will deliver an invited Keynote address and chair a session on “Biomarkers and Diagnostics in Personalized Medicine (Track 6-4),” at the BIT Life Sciences 2nd International Congress and Expo of Molecular Diagnostics in Beijing, China, November 19-21, 2009. The Theme of the meeting is “New Leadership of

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Recently, the unitholders of TEPPCO Partners L.P. (TPP) approved the proposed merger with Enterprise Products Partners L.P. (EPD). This merger will create the nation’s largest publicly traded energy partnership with an enterprise value of approximately $30 billion.  Of the votes cast, approximately 97% of TEPPCO units were in favor of the merger, representing about 71% of TEPPCO’s total outstanding units. Also, approximately 96% of the unaffiliated TEPPCO unitholders have approved the merger. As per the merger agreement, TEPPCO unitholders will receive 1.24 Enterprise common units for each TEPPCO unit owned at the effective time of the merger.  TEPPCO unitholders have recognized the benefits and potential growth opportunities that will result by combining the complementary strengths of these two successful partnerships. The partnership believes that this merger would create improved access to financial resources, resulting in distribution increases for investors.  Enterprise has declared that the ...

Enterprise Products Partners L.P. (EPD) yesterday declared an increase in the quarterly cash distribution rate paid to partners to 55.25 cents per common unit, or $2.21 per unit on an annualized basis. Previously, the quarterly dividend totaled 52.25 cents, representing an increase of 5.7%. The quarterly distribution will be paid on Nov 5 to unitholders of record as of the close of business on Oct 30. This is the 30th distribution increase since Enterprise’s initial public offering in 1998 and the 21st consecutive quarterly increase.   Enterprise added that, should its proposed acquisition of Teppco Partners L.P. (TPP) close prior to Oct 30, holders of Enterprise common units issued in exchange for Teppco units in the buyout will receive this dividend payment. Teppco has scheduled a unitholder meeting for Oct 23 when the unitholders will vote on the merger.   Enterprise Products Partners L.P., a leading master ...

Philadelphia-based Sunoco Logistics Partners L.P. (SXL) is a master limited partnership (MLP) that acquires, owns, and operates a geographically diverse portfolio of refined product and crude oil pipelines and terminal facilities.   Sunoco Logistics reported solid second-quarter results, reflecting higher lease acquisition results, increased fees, and contributions from the recent MagTex acquisition. Importantly, the partnership increased its quarterly cash distribution by 11.2% year over year to the annualized rate of $4.16 per unit. With its stable fee-based revenue, geographically diverse assets, and strong business fundamentals, Sunoco Logistics offers investors an opportunity to capture income growth through steadily rising cash distributions and capital appreciation.   We also believe that the partnership’s synergistic relationship with its general partner, Sunoco Inc. (SUN) adds to its positive attributes by providing Sunoco Logistics with stable cash flows and consistent top-line growth opportunities.   At the same time, we remain concerned with Sunoco ...

Late last week, Kinder Morgan Energy Partners LP (KMP) closed the previously announced acquisition of natural gas treating business from Dallas-based Crosstex Energy LP (XTEX) and its general partner Crosstex Energy Inc. (XTXI) for approximately $266 million.  As part of the transaction, Kinder Morgan purchased approximately 290 amine-treating and dew-point control plants from natural gas company Crosstex. These plants are primarily located in Texas and Louisiana , with additional facilities in Mississippi , Oklahoma , Arkansas and Kansas.  Kinder Morgan will use these natural gas treatment plants in servicing its Texas Intrastate customers and to other producers in various supply basins, including the fast growing shale plays. Following the deal, Kinder Morgan has become the largest provider of contracted natural gas treating services in the country.  The Crosstex asset acquisition will allow the partnership to expand its natural gas business through the inclusion ...

Duncan Energy Partners L.P. (DEP) recently rewarded unitholders by raising its distribution 3.6%. The partnership already pays a hefty yield of 9.00%. It has surprised on the Zacks Consensus Estimate three quarters in a row.

Company Description

Duncan Energy is a partnership which transports and stores natural gas, provides NGL fractionation (or separation) and transportation and petrochemical storage and transportation.

The partnership has assets primarily in Texas and Louisiana, including 9,200 miles of natural gas pipelines and 1,600 miles of NGL and petrochemical pipelines.

Duncan Energy is managed by its general partner, DEP Holdings, LLC, which is wholly-owned by Enterprise Products Partners. Enterprise owns about 74% of the limited partner interests of Duncan Energy.

Duncan Surprised by 37.93% in the Second Quarter

On July 27, the partnership reported second quarter results that easily beat the Zacks Consensus Estimate by 11 cents. Earnings per unit were 40 cents compared

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Magellan Midstream Partners L.P. (MMP) recently announced that the bankruptcy court had approved its purchase of substantially all assets of Longhorn Partners Pipeline. The deal includes a 700-mile common carrier pipeline system that transports petroleum products from Houston to El Paso, Texas and a terminal in El Paso.

The purchase price of these assets is $250 million plus another $100 million for the fair market value of line fill. Line fill is the requisite amount of oil or gas that should fill a new line before deliveries can be made at the other end.

Having served as its operator for the last few years, Magellan said that the Longhorn pipeline suits it well. After the acquisition, Magellan plans to connect the pipeline to its existing terminal at East Houston. The partnership will also build 400,000 barrels of storage at the El Paso terminal, which is currently under construction.

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Yesterday, natural gas pipeline systems operator TC PipeLines, LP (TCLP) raised its second quarter 2009 cash distribution to $0.73 per unit (or $2.92 per unit annualized), from $0.705 per unit (or $2.82 per unit annualized). The Calgary, Alberta-based master limited partnership’s (MLP) new distribution is payable on August 14 to unitholders of record on July 31, 2009. The cash distribution is the 41st successive quarterly distribution paid by TC PipeLines and represents a 3.5% year-over-year increase.  We believe that the distribution hike reflects TC PipeLines’ ability to deliver solid, sustainable cash distribution following the recent North Baja Pipeline acquisition and the subsequent capping of general partner Incentive Distribution Rights (IDRs) at 25%.  The North Baja acquisition complements TCLP’s business by providing a low-risk, regulated energy infrastructure asset backed by long-term contracts, and strong business fundamentals that provide stable cash flows.   In particular, the 25% IDR ...

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Monday, July 20, 2009

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Quicksilver Gas Services LP (NYSE: KGS) announced today that the board of directors of its general partner has declared a cash distribution of $.37 per common unit for the 2009 second quarter. This distribution will be paid August 14, 2009 on all common units to holders of record as of the close of business on August 4, 2009.

At this year’s American Association for Clinical Chemistry meeting, Waters Corporation (NYSE: WAT) is introducing clinical scientists to its expanded portfolio of new products for clinical and research laboratories including a new research use only (RUO) kit for quantitative measurement of Tacrolimus,

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