Martin Midstream Partners LP (MMLP) announced Aug. 22 that it completed the sale of MMLP common units to Martin Resource Management Corp. (MRMC) for $45 million.
As has been well-established by this point, midstream insiders expected Kinder Morgan Inc. would need to do something big to manage its MLP’s distribution growth, which was doling out at least 5% each year, along with it general partner’s 50% take in profits.
NGL Energy Partners LP and TransMontaigne Partners LP (TLP) announced Aug. 15 that the companies ended talks dealing with NGL's proposed acquisition of Denver's TLP due to the inability to settle on a price.
In its second-quarter earnings call, American Midstream Partners’ executive chairman, president and CEO Stephen W. Bergstrom explained the company’s growth strategy.
Kinder Morgan Inc.’s decision to absorb its MLP businesses into a corporation is driving some uncertainty about what the future holds for the tax-advantaged structure.
SECURE Energy Services Inc. entered into an agreement to acquire all of the assets of Calgary, Alberta-based Predator Midstream Ltd. for about $107 million, subject to certain customary closing conditions.
GasLog Partners LP entered into an agreement to purchase from GasLog Ltd. 100% of the shares in the entities that own and charter the Methane Jane Elizabeth and Methane Rita Andrea, modern LNG carriers with a capacity of 145,000 cubic meters each, for an aggregate purchase price of $328 million.
Midstream merger and acquisition (M&A) activity remains brisk as the sector, overall, remains high on the list for return-hungry deal makers and investors. But the pace of deals seems to be dropping off from a sizzling 2013 as asking prices climb.
Experts say not to expect a mass shift away from the tax-advantaged structure.
Martin Midstream Partners LP announced that through its indirect, wholly owned subsidiary Redbird Gas Storage LLC, it entered into an agreement with Energy Capital Partners and its affiliated funds to acquire all of ECP’s Category A membership interests in Cardinal Gas Storage Partners LLC.
After a couple of years’ worth of share price underperformance by all four of Kinder Morgan’s business entities, folks expected the pipeline giant might be working on changes, but not necessarily the one that came down Sunday evening.
Contrary to recent trends of corporations creating MLPs by spinning off midstream assets into the tax-advantaged structure, pipeline titan Richard Kinder revealed his plan to put all of his eggs into one $71 billion corporate basket.