El Paso Corp. last week said it is taking its rebuilt exploration and production (E&P) business for a spin as a publicly traded company by the end of the year.
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The National Association of Publicly Traded Partnerships (NAPTP) recently warned its members that the Obama administration is considering corporate-level taxation of pass-through entities, such as master limited partnerships (MLP). Such a change could have significant consequences for the midstream energy sector where numerous companies are MLPs. The warning came in a confidential memo circulated to NAPTP members, which was leaked to Reuters. NAPTP Executive Director Mary Lyman would not share the memo with NGI but confirmed its distribution. In an e-mail to NGI, Lyman said, “At this point, there is no public proposal yet; we have simply heard that there is a proposal under discussion as part of corporate tax reform that would tax a broad section of pass-through entities, including MLPs — everything with gross receipts over $50 million.” The administration is still considering tax reform options, according to a White House spokeswoman.
Williams E&P Business to Stand Alone as Company Splits
Williams will split itself into two standalone publicly traded corporations, the Tulsa-based company said last week, in a move aimed at value enhancement that has been on the minds of company executives for a while.
Williams to Split in Two
Williams will split itself into two standalone publicly traded corporations, the Tulsa-based company said Wednesday, in a move aimed at value enhancement that has been on the minds of company executives for a while.
Futures Tumble From Highs as Near-Term Forecasts Tempered
Natural gas bulls thought they were in the driver’s seat as just prior to the opening of Monday’s floor trading January futures traded as high as $4.547, a stout 13 cent rise relative to Friday’s settlement.
Upside Open? Futures Add 15.7 Cents to $4.164
Continuing the wild back and forth trading from one week to the next, December natural gas futures on Friday traded between $3.975 and $4.175 before closing at $4.164, up 15.7 cents from Thursday and 36.5 cents higher than the previous week’s finish.
Futures Continue to Rise Despite Fundamentals
December natural gas futures traded in a tight 10-cent range on Friday before closing the regular session at $3.937, up 8.1 cents from Thursday’s finish but 10.1 cents lower than the previous week’s close.
Futures Rebound Into the Mid-$3.80s Ahead of Fresh Storage News
Natural gas futures added to the previous day’s gains Wednesday as the November contract traded between $3.748 and $3.888 before coming to a close at $3.865, up 12.2 cents from Tuesday’s finish.
October Goes Quietly as Futures Remain Range-Bound
October natural gas futures went off the board on Tuesday with a whimper as the contract traded in a range of just more than a dime before expiring at $3.837, up 3.7 cents from Monday’s close. Taking over as the new front-month contract, November futures added 3.5 cents Tuesday to finish at $3.951.
Futures Inch Lower Despite Heat, Gulf Storm System
September natural gas futures traded in a 10-cent range on Tuesday between $4.276 and $4.370 before closing the regular session at $4.297, down 1.2 cents from Monday’s finish.