NuStar Energy LP’s planned acquisition of natural gas liquids (NGL) pipeline and fractionation assets could be in jeopardy as seller TexStar Midstream Services LP told the company in mid-February that it was terminating the sale. NuStar disclosed during a midstream conference presentation in early March that it was evaluating its legal options in the matter. “If NuStar does not complete this acquisition, we do not expect a material adverse impact on our results of operations,” the company said in a presentation to a Morgan Stanley midstream conference. Last November, NuStar said it was buying the Eagle Ford Shale NGL assets, as well as Eagle Ford crude oil pipeline, gathering and storage assets (see Shale Daily, Nov. 9, 2012). The crude oil asset transaction, worth about $325 million, has closed. The pending NGL asset transaction is worth about $100 million.
Jeopardy
Articles from Jeopardy
Canadian Hostility to Marcellus Gas Imports Rises
A potential market for growing gas supplies from the Marcellus Shale — Eastern Canada — could be in jeopardy as resistance to U.S. sourced gas grows among Canadian producers while Canadian landowners object to pipeline plans and a pipeline flow reversal project stumbles with regulators.
Maine’s Downeast LNG Continues; Quoddy Bay Falters
Responding to FERC’s forewarning that the pipeline portion of its Downeast LNG project could be in jeopardy, the company has informed the agency that it will hold a 30-day open season for capacity on the line beginning Monday (Nov. 3). At the same time another coastal Maine project, Quoddy Bay LNG LLC told state regulators it was withdrawing its request for state permits following FERC’s dismissal of its import terminal application.
Egged on by FERC, Downeast Pipe to Start Open Season Nov. 3
Responding to FERC’s forewarning that Downeast Pipeline LLC’s pipeline project could be in jeopardy, the company has informed the agency that it will hold a 30-day open season for capacity on the line beginning Monday (Nov. 3).
Rising Energy Prices Could Threaten Economic Growth, Greenspan Warns
The potential for oil and gas prices to continue rising rather than flatten out, as the current futures market suggests, could put optimistic economic forecasts in jeopardy, Federal Reserve Chairman Alan Greenspan told the House Financial Services Committee Wednesday. As energy prices rise and place upward pressure on costs, Greenspan said the central bank would likely continue increasing interest rates gradually to curb core inflation.
Imperial CEO Says Regulatory Delays Jeopardizing Mackenzie Pipe
Imperial Oil Ltd. CEO Tim Hearn said Thursday that a 2010 targeted startup for the proposed C$7 billion ($5.6 billion) Mackenzie Valley pipeline may be in jeopardy because of continuing regulatory delays.
Imperial CEO Says Regulatory Delays Jeopardizing Mackenzie Pipe
Imperial Oil Ltd. CEO Tim Hearn said Thursday that a 2010 targeted startup for the proposed C$7 billion ($5.6 billion) Mackenzie Valley pipeline may be in jeopardy because of continuing regulatory delays.
ConEd, NU Merger Could Be in Jeopardy
The mega-utility merger of Consolidated Edison (ConEd) andNortheast Utilities (NU) could be called off today. NU has toldConEd to provide assurances by 5 p.m. Monday that it intends to gothrough with the deal or else face legal action.
Weather, Short-covering Puts Downtrend in Jeopardy
Ding-dong the downtrend is dead. Well maybe its not dead quiteyet, but it certainly was dealt a potentially fatal blow yesterdaywhen short-covering by funds quickly turned into a buyingfree-for-all as commercials and locals entered the fray. The Augustcontract finished at $2.395, up 14.2 cents for the day. Nearly asimpressive as the price action was estimated volume, whichregistered 113,049 contracts.
