ETE Merging Sunoco Logistics and Energy Transfer Partners
Energy Transfer Equity (ETE) is a big and (on paper) complex company with a number of subsidiaries. Roughly speaking, ETE is the mother ship/parent, and under it are two subsidiaries–Regency Energy Partners and Energy Transfer Partners (ETP)–the company building the Dakota Access Pipeline. Under Energy Transfer Partners are other divisions and subsidiaries–notably Sunoco Logistics Partners, which is the builder of the Mariner pipeline projects. (Click on the org chart to view how the company is arranged.) Yesterday ETE announced that Sunoco LP is swallowing up ETP in a ~$20 billion, stock-swap deal. The confusing part is that although Sunoco LP is buying ETP, the new company will be called ETP and will be run by ETP’s current management…
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In early November Canadian midstream giant TransCanada announced they were going on a fundraising bender to get money to pay for their recent $10 billion acquisition of Columbia Pipeline (see 
Something noteworthy has happened in Buckingham County, VA. Planning Commission members in the county worked hard to evaluate a request by Dominion for their Atlantic Coast Pipeline project, a request to build a compressor station in Buckingham County. Residents expressed concerns–over noise, air pollution, explosions–you name it. Planning Commission members listened, and in the end, voted to recommend that Dominion be allowed to build the compressor station, as long as they adhere to 40 conditions set forth in the Commission’s recommendation. You see, this is how adults do things. They are reasonable (able to be reasoned with). They listened, closely. They heard the concerns. They devised a plan that will allow Dominion to build the compressor station, but at the same time protect the residents that live near it. Of course that wasn’t good enough for the children-in-adult-bodies who chanted a threat to shut down the pipeline…
On April 29, Spectra Energy’s Texas Eastern Transmission (TETCO) “Delmont Line 27” pipeline exploded in Westmoreland County, PA, seriously injuring one resident who was burned over much of his body (see 
The radicals at the Sierra Club are at it again. Causing private companies to expend big money to defend their Constitutional, capitalistic rights. The NEXUS Pipeline is a $2 billion, 255-mile interstate pipeline that will run from Ohio through Michigan and eventually to the Dawn Hub in Ontario, Canada. It is a critically needed pipeline to move Utica and Marcellus Shale gas from an over-saturated market in the northeast to markets in the Midwest and Canada. The Sierra Club has just sued DTE Energy, one of the sponsors of the project, falsely claiming DTE’s electric customers will end up paying more for electricity because of the pipeline…
Crestwood Equity Partners (nee Crestwood Midstream) recently issued its third quarter 2016 update. In April Crestwood announced that New York City utility giant Consolidated Edison Inc. has formed a 50/50 joint venture to purchase ownership of pipelines and storage facilities in the PA and NY Marcellus region (see 
Earlier this week we ran the news that Canadian pipeline giant TransCanada’s plan to radically lower the cost to pipe natural gas from the western regions of Canada to the eastern part of the country, in an effort to undercut Marcellus/Utica gas from flooding into the region, failed (see 
Last week MDN brought you an article from the Seeking Alpha investors website, written by an analyst/investor pointing out the financial troubles at the world’s fourth largest oilfield services company, Weatherford (see 
Companies in the oil and gas sector often split the ownership of assets into different companies (on paper) for various reasons: tax purposes…to attract investment…to give us laypeople headaches. CONE Midstream, a joint venture between CONSOL Energy and Noble Energy (CO from CONSOL and NE from Noble Energy) was formed in summer 2014 (see 
Somehow or other MDN wound up on the distribution list for Deutsche Bank’s Equity Research (North America) updates. Which we like! Germany-based Deutsche Bank (DB) is the world’s 11th largest bank. They have some sharp analysts who keep tabs on multiple industries, one of those industries being oil and gas. Given the recent happenings with the Dakota Access Pipeline (DAPL), and the happenings with the Ohio Rover pipeline–both pipelines projects of Energy Transfer Equity–DB decided to do a quick update on both projects, giving us the investor/trader view of what will happen over the next 2-3 months. We found the update interesting and think you will too…
Yesterday MDN told you that a war of words has broken out between the Obama U.S. Army Corps of Politicized Engineers and Energy Transfer Equity (ETE) over the Dakota Access Pipeline (see 
You may recall that TransCanada, one of Canada’s leading midstream/pipeline companies, cooked up a deal to pipe natural gas from Canada’s West Coast to the East Coast in order to fend off cheap supplies of Marcellus/Utica gas that will flow into Canada when/if the NEXUS and Rover pipelines get built (see