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Sunoco Announces Open Season on Permian Pipelines, Shares Jump

By  +Follow September 19, 2013 11:15AM
Tickers Mentioned:

Sunoco Logistics Partners LP (SXL) , the $7 billion market-cap oil and gas pipeline company from Texas, saw shares spike to within a dollar of their 52-week high on Thursday after announcing the initiation of a binding open season for its Permian Express 2 pipeline.

The Permian Express 2 is a pipeline project whose ultimate goal is to facilitate the delivery of crude from the Permian Basin, one of the world’s largest deposits of rocks from the geological period of the same name. Located mostly in the western portion of the state of Texas, as well as a bit of New Mexico, Permian has been a longstanding domestic source of oil in the US, and has also proven itself incredibly valuable in the nascent and much heralded shale energy boom.

According to Sunoco, the Permian Express 2 project will entail at least 300 miles of pipe, and will have a starting capacity of about 200,000 barrels per day, to be transported to both the companies own facilities, as well as those of interested third-party pipelines, with the Gulf Coast expected to be one of the main destinations.

The company has already been having a good year, with shares up some 33 percent since January 1, and yesterday’s late announcement just made it a little better, with shares climbing to $67. But the news bodes well for pipeline companies in general, who stand to benefit from both the delay/annulment of the proposed and widely reviled Keystone XL project, as well the continent-wide ramp up in production that is expected to be a trend in the long-term.

Gas pipeline segment of the basic materials sector had a banner day in general, with substantial gains for all but 5 out of 44 listed companies. Spectra Energy Partners (SEP) was up 3 percent to $43.92, while DCP Midstream Partners (DPM) added 2.5 percent to $49.37, followed by TC Pipelines (TCP) and SemGroup Corporation (SEMG) .


[Image Courtesy of Wikimedia Commons]

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Results for SXL
Market Int Center
27 Jul 15 11:28:30
Potential Sunoco Logistics $SXL Trade Targets 3.24% Return ( http://t.co/2JtQAxVfrK )
Shiraz Lakhi
27 Jul 15 05:41:25
Pre-Open Screener: Friday's Biggest Volume Backed %Advancers in Energy #Stocks $AMTX $AMID $CLD $SXL ++ Full List: http://t.co/uia45hFCmm
Assad Tannous
26 Jul 15 20:47:17
Here's one of those illiquid stocks, short $SXL at 92. #ASX
26 Jul 15 04:28:02
$SXL is rated BUY, 39.7% upside by Wall Street analysts based on average ratings/targets http://t.co/Yrb2RJrdmg http://t.co/Nyw3gq1M6u
25 Jul 15 12:52:01
#US becomes largest exporter of #propane $APU $EPD $NGLS $DPM $FGP $SPH $PDH $SXL $KMI $UNG $RRC http://t.co/CJ7mRU6rCx
BNK Invest
24 Jul 15 08:09:36
Sunoco Logistics Partners Named Top Dividend Stock With Insider Buying and 5.05% Yield $SXL #energy http://t.co/ttfZD8pnaa
24 Jul 15 08:08:03
$SXL: Sunoco Logistics Partners Named Top Dividend Stock With Insider ...: http://t.co/MNkKsQl3nn
Daily Contracts
23 Jul 15 11:38:01
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvruhw
Breaking News
23 Jul 15 09:40:02
$SXL: New SEC Filing for SXL: Form 8-K (No. 0001161154-15-000029): http://t.co/Q5ts2m1rqf
Sec Filings
23 Jul 15 09:39:36
$SXL: SUNOCO LOGISTICS PARTNERS L.P. filed a form 8-K. http://t.co/nLlhmhdcsq
Company SEC Filings
23 Jul 15 09:39:03
NEW SEC Filing for $SXL filed a moment ago: http://t.co/X6bt5P4gKk http://t.co/SiD0ye5Rc9
BNK Invest
23 Jul 15 08:07:11
Video: Daily Dividend Report: $INTC $V $LVS $AMP $XRX $COG $SNDK $MMP $SXL $PSXP #stocks http://t.co/hrquNmimYq
23 Jul 15 07:37:27
$SXL: Sunoco Logistics raises quarterly distribution 5%, for the thirteenth consecutive quarter, to $0.438/common... http://t.co/VPjLRRUaLm
US Banking News
23 Jul 15 07:10:33
Sunoco Logistics Partners L.P. announces quarterly dividend of $0.438. Payable on 8/14/2015. 5.11% Yield. http://t.co/0YcDSTeSnk $SXL #…
Consumer News
23 Jul 15 07:10:20
Sunoco Logistics Partners L.P. announces quarterly dividend of $0.438. Payable on 8/14/2015. 5.11% Yield. http://t.co/vskAJeuet4 $SXL #…
23 Jul 15 07:07:41
Pre- Market News Review: http://t.co/tprWGCKRXQ $TRCO $HXL $SXL
Breaking News
23 Jul 15 05:46:54
Sunoco Logistics declares $0.438 dividend http://t.co/ZSi5WF5EQH #premarket $SXL
Master LP
23 Jul 15 05:39:53
$SXL out with 13th straight 5+% quarterly increase in distribution.
Capital Market Labs
22 Jul 15 14:30:06
Technical Collapse -> http://t.co/WekVBmORI5 $SXL Down -3.85% to New Low http://t.co/a4N8utAKWB
NewsHedge Squawk
22 Jul 15 11:14:43
$SXL (Broke $34 on the downside) spiked lower on very heavy trading volume. http://t.co/MceZCU6HCI
Market Int Center
22 Jul 15 05:14:59
Potential Sunoco Logistics $SXL Trade Has 5.33% Downside Protection ( http://t.co/OfIwmS22kE )
Market Int Center
21 Jul 15 12:13:02
Sunoco Logistics $SXL Showing Support Near $34.89 ( http://t.co/b4lH1z6Ye4 )
Daily Contracts
21 Jul 15 10:04:01
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvJ594
21 Jul 15 02:13:04
$SXL: Citigroup Rating Update on Sunoco Logistics Partners LP (NYSE:SXL): http://t.co/r5tOIsOWvo
Media Sentiment
20 Jul 15 06:09:50
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 150
Market Int Center
20 Jul 15 06:08:57
Sunoco Logistics $SXL Showing Bearish Technicals ( http://t.co/0zNPB88sFG )
Jason Olive
19 Jul 15 23:20:00
RT @SeekingAlpha: MLPs: Finding Small Advantages In A Hostile Market http://t.co/5iCyQzjHAW $BPL $EEP $ENBL $EPD $ETP $KMI $MMP $OKS $PAA $…
FOREX Insight
19 Jul 15 23:14:12
RT @SeekingAlpha: MLPs: Finding Small Advantages In A Hostile Market http://t.co/5iCyQzjHAW $BPL $EEP $ENBL $EPD $ETP $KMI $MMP $OKS $PAA $…
Income Investing SA
19 Jul 15 23:13:01
MLPs: Finding Small Advantages In A Hostile Market http://t.co/EByYRwlqLV $BPL $EEP $ENBL $EPD $ETP $KMI $MMP $OKS $PAA $SEP $SXL $WPZ
Seeking Alpha
19 Jul 15 23:13:00
MLPs: Finding Small Advantages In A Hostile Market http://t.co/5iCyQzjHAW $BPL $EEP $ENBL $EPD $ETP $KMI $MMP $OKS $PAA $SEP $SXL $WPZ
Breaking News
19 Jul 15 19:13:14
$SXL: Company Shares of Sunoco Logistics Partners LP Drops by -4.66%: http://t.co/JtbksTSw9W
By  +Follow September 19, 2013 11:15AM



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