Showing posts with label Kinder Morgan Energy. Show all posts
Showing posts with label Kinder Morgan Energy. Show all posts
Wednesday, October 17, 2012
Vale (VALE) (MUR) (YZC) (NSU) (CMK) (KMP) (CRK) Ratings Changes and Initiations
Vale (VALE), Murphy Oil (MUR), Yanzhou Coal Mining (YZC), Nevsun Resources Ltd (NSU), Cline Mining (CMK), Kinder Morgan Energy Partners LP (KMP) and Comstock Resources (CRK) had analysts change or initiate ratings on them.
Brean Murray upgraded Murphy Oil (MUR) from a "Hold" rating to a "Buy" rating, while Societe Generale downgraded Murphy Oil from a "Buy" rating to a "Hold" rating. They have a price target of $60.00 on the company.
Citigroup (C) downgraded Yanzhou Coal Mining (YZC) from a "Buy" rating to a "Sell" rating.
Zacks downgraded Vale (VALE) from a "Neutral" rating to an "Underperform" rating. They have a price target of $17.00 on the company.
Haywood Securities downgraded Nevsun Resources Ltd (NSU) from an "Outperform" rating to a "Sector Perform" rating.
Dundee Securities downgraded Cline Mining (CMK) from a "Buy" rating to a "Neutral" rating.
Imperial Capital downgraded Kinder Morgan Energy Partners LP (KMP) from a "Buy" rating to a "Sell" rating.
Brean Murray initiated coverage on Comstock Resources (CRK). They placed a "Hold" rating on the company.
Wednesday, July 7, 2010
SM Energy (NYSE:SM) Lands Gas Services Agreement with Eagle Ford Gathering
SM Energy (NYSE:SM) and Eagle Ford Gathering, a joint venture between Copano Energy (Nasdaq:CPNO) and Kinder Morgan Energy Partners, L.P. (NYSE:KMP), have entered a 10-year gas services agreement, where SM Energy will produce 200,000 million British thermal units per day of Eagle Ford Shale natural gas.
For Eagle Ford's part of the deal, they'll offer gathering, transportation and processing services.
Eagle will build a pipeline for the purpose of collecting and transporting gas, which will flow through Kinder Morgan’s Laredo-to-Katy pipeline to Copano’s Houston Central plant. There the gas will be processed.
For the first phase of the project, Eagle will spend about $137 million, while SM Energy won't have to spend any upfront capital, as it is a fee-based deal on their part.
For Eagle Ford's part of the deal, they'll offer gathering, transportation and processing services.
Eagle will build a pipeline for the purpose of collecting and transporting gas, which will flow through Kinder Morgan’s Laredo-to-Katy pipeline to Copano’s Houston Central plant. There the gas will be processed.
For the first phase of the project, Eagle will spend about $137 million, while SM Energy won't have to spend any upfront capital, as it is a fee-based deal on their part.
Wednesday, April 14, 2010
Petrohawk Energy (NYSE:HK), Kinder Morgan (NYSE:KMP) in Joint Venture
Petrohawk Energy (NYSE:HK) announced it'll be selling its 50 percent stake in its Haynesville Shale project to Kinder Morgan Energy Partners (NYSE:KMP). The Haynesville Shale project include the extracting and processing side of the business.
As a result of the $875 million deal, the two companies will form a partnership for the project.
Petrohawk has been selling off some of its assets this year, which so far has reached $1.4 billion in order to increase its liquidity, in order to focus on this very Haynesville property, along with the Eagle For shale project.
Capital raised from the deal will be used by Petrohawk to work on and expand its drilling programs, according to CEO and Chairman Floyd Wilson.
Wilson said this will probably be the last deal like this for 2010, possibly because it exceeded expectations by over $200 million.
Separate from this deal, Petrohawk has also been migrating capital toward the Eagle Ford project to increase oil production in order to diversify its assets because of the abundance of natural gas which is bringing prices down.
The new company, named KinderHawk Field Service, will be valued at close to $1.75 billion at the close of the deal. Until then, Petrohawk will continue to operate the business.
As a result of the $875 million deal, the two companies will form a partnership for the project.
Petrohawk has been selling off some of its assets this year, which so far has reached $1.4 billion in order to increase its liquidity, in order to focus on this very Haynesville property, along with the Eagle For shale project.
Capital raised from the deal will be used by Petrohawk to work on and expand its drilling programs, according to CEO and Chairman Floyd Wilson.
Wilson said this will probably be the last deal like this for 2010, possibly because it exceeded expectations by over $200 million.
Separate from this deal, Petrohawk has also been migrating capital toward the Eagle Ford project to increase oil production in order to diversify its assets because of the abundance of natural gas which is bringing prices down.
The new company, named KinderHawk Field Service, will be valued at close to $1.75 billion at the close of the deal. Until then, Petrohawk will continue to operate the business.
Subscribe to:
Posts (Atom)