The natural gas market is getting a lot of attention from Jim Cramer, host of CNBC’s Mad Money program. In fact, the influential stock market analyst has called 2008, “the year of natural gas.”
In the past few months, he has recommended Anadarko, Apache, Chesapeake Energy, Devon Energy, XTO Energy, El Paso Corp. and Southwestern Energy as strong stocks.
• DCP Midstream Partners LP declared a $0.57 per unit quarterly cash distribution for Q4 2007, or $2.28 per unit on an annualized basis. The distribution, an increase of 3.6% from the prior quarter’s $0.55 per unit distribution, is payable Feb. 14, 2008 to unitholders of record on Feb. 7, 2008.
Copano Energy LLC announced a cash distribution for Q4 2007 of $0.51 per common unit, or $2.04 per unit on an annualized basis. The distribution is payable on Feb. 14, 2008 to holders of record as of Feb. 1, 2008. The distribution is $0.04 above the $0.47 per unit distribution given in Q3 2007.
Range Resources was the early pioneer in the modern Marcellus shale play in the Appalachian Basin, and today it enjoys an enviable position.
Spectra Energy Corp. signed a definite agreement to acquire the Bobcat Gas Storage project and its associated assets from Haddington Energy Partners III LP and GE Energy Financial Services for US$540 million.
In the third-quarter of 2013, The Laclede Group incurred acquisition-related costs of $2.2 million.
Delek Logistics Partners LP acquired, from a subsidiary of Delek US Holdings Inc., substantially all storage tanks and the sole refined products terminal at Delek US’ Tyler, Texas, refinery for $94.8 million in cash.
The new facility, which runs through March 2015, replaces a $350-million facility that was due to mature in April 2012.
Newly formed TEAK Midstream LLC secured a US$100 million investment from Natural Gas Partners, an Irving, Texas-based private equity firm, and will use the funds to acquire and develop midstream assets.
TPG Capital, the global buyout group of TPG, a private investment firm, will purchase a majority share in privately-held Valerus Compression Services, which is a provider of natural gas handling equipment and services, for US$500 million.
On the anniversary of the worst global financial collapse in recent memory, energy investment banks are on the road to recovery.