Posts for Ticker ‘TPP’

When Two Partners Quit, Will the Third One Sue? (EPD, EPE, TPP)

burning-money-pic22Master limited partnership Enterprise Products Partners L.P. (NYSE:EPD) has announced that it will pull out of a partnership with an affiliate of Oiltanking Holdings America, Inc., a subsidiary of privately-held German firm Marquard & Bahls AG. Enterprise’s general partner, Enterprise GP Holdings L.P. (NYSE:EPE) also owns the general partner of TEPPCO Partners, L.P. (NYSE:TPP), the third partner in this joint venture. The reason for the split is only stated as a “disagreement” with Oiltanking.
Read More »

Posted on: April 22, 2009 – 9:19 am in Dividend, Law, Mergers and Buy Outs, Oil & Gas, , ,

TEPPCO Piping Earnings (TPP)

Oil_gas_pipeline_picTEPPCO Partners (NYSE:TPP), a pipeline master limited partnership, reported third quarter earnings of $0.40/common unit on revenues of $4.2 billion. Analysts were expecting $0.43/common unit and revenues of $3.36 billion. Net income totaled $47 million, down slightly from third quarter 2007 income of $47.6 million. The company estimated that Hurricanes Gustav and Ike reduced EBITDA by about $3.7 million. For the first nine months of the year, TEPPCO’s net income is off $74.7 million from a year ago.

Read More »

Posted on: October 28, 2008 – 8:23 am in Earnings, Oil & Gas,

Updated Energy Production Outages From Hurricane Ike (XOM, CVX, COP, KMP, TPP, EPD, DO)

Oil_well_logo_2The effects of Hurricane Ike on the Gulf Coast are still being sorted out, but, so far reported infrastructure damage is light. That may change as producers, refiners, and pipeline operators begin more detailed examinations today.  But this is part of why oil prices have sold off so much despite the outages and interruptions.  Below you can see an update on which major oil and gas companies have released date regarding their facilities which were in Ike’s path.

Read More »

Posted on: September 15, 2008 – 9:33 am in Oil & Gas, , , , , , ,

TEPPCO’s Multi-Year Lows on Increased Offering (TPP)

Oil_gas_pipeline_picTEPPCO Partners, L.P. (NYSE:TPP) is under a bit of pressure after the energy logistics company has priced a secondary offering of 8,000,000 units.  Last night this was listed as a pricing of 7.1 million units, but that number has been increased this morning.  As far as a use of funds, TEPPCO intends to use the net proceeds from these sales of units to reduce debt under its revolving credit facility, and it expects to use some of the increased availability under the facility to finance capital expenditures and other growth projects.

Read More »

Posted on: September 4, 2008 – 8:32 am in Oil & Gas, Secondary Offering,