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Sunoco Announces Open Season on Permian Pipelines, Shares Jump

By  +Follow September 19, 2013 11:15AM
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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]

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SXL
PCB Inc.
17 Sep 14 08:48:57
$SXL going down $ACGX primed for a mega run to .05 http://t.co/MMh0Uiewtq
Briefing.com
17 Sep 14 08:03:03
$SXL: Sunoco Logistics priced 7.7 mln common units at $48.46 per unit http://t.co/WocJtVQ8JW
TheStreet Alerts
17 Sep 14 07:15:21
Why Sunoco Logistics $SXL Stock Is Down Today http://t.co/FAQu4b8WmP
Kevin_Dixon
17 Sep 14 06:31:49
FADE the GAPS: $X $AKS $DD $AUXL $YRCW $ENDP & FILL the GAPS: $RAX $SXL $SNE $OI $ADBE $PDLI
Open Outcrier
17 Sep 14 06:24:58
$SXL (-4.68% Pre) Sunoco Logistics Partners launches public offering and it could reach $385M. http://t.co/oQ05eBsrOm
BV Basic Materials
17 Sep 14 06:13:47
$SXL Sunoco Logistics Partners L.P. Prices Public Offering of Common Units.. http://t.co/TeaNizIvG8
4-traders.com
17 Sep 14 06:05:15
Sunoco Logistics Partners : Prices Public Offering of Common Units http://t.co/ymzpdOmcI7 $SXL
Evnt Trader
17 Sep 14 05:23:55
$SXL Sunoco Logistics 7.7M share Spot Secondary re-offered at $48.46
Alexander Morris
17 Sep 14 04:47:33
$SXL: GapDN 2.50[-5.0%,fill:65%], PrvCl:49.96, PrvLo:49.39, 8NewLo:BrkPHi+PLo[-6.4%], 3mMv:-3, 42:6Accel-, tf:40, MedFlt[142.7M]
Chris Versace
17 Sep 14 03:11:20
RT @theflynews: $APOG $NSPR $BA $X $ADBE $RAX $SXL $PETX On The Fly: After Hours Movers: Full Story http://t.co/77wmmm00kh
Directors Deals
17 Sep 14 02:33:34
$SXL A director at Southern Cross Media Group Limited maiden bought 95,000 shares at 1.050AUD and... http://t.co/Na2aY6fVey #markets #FT
Swing Trade Alerts
16 Sep 14 17:40:20
THEFLYNEWS:$APOG $NSPR $BA $X $ADBE $RAX $SXL $PETX On The Fly: After Hours Movers: Full Story http://t.co/4g5pwc4Jeb
don
16 Sep 14 16:58:18
$APOG $NSPR $BA $X $ADBE $RAX $SXL $PETX : After Hours Movers
Erick
16 Sep 14 15:48:09
RT @Street_Insider: After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
US Equities Insight
16 Sep 14 15:33:06
RT @Street_Insider: After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
The Fly
16 Sep 14 15:31:07
$APOG $NSPR $BA $X $ADBE $RAX $SXL $PETX On The Fly: After Hours Movers: Full Story http://t.co/77wmmm00kh
Kevbeau68
16 Sep 14 15:15:55
RT @Briefingcom: $SXL: Sunoco Logistics announces public offering of 7.7 mln common units http://t.co/AOyq9h2zeh
Briefing.com
16 Sep 14 15:13:50
$SXL: Sunoco Logistics announces public offering of 7.7 mln common units http://t.co/AOyq9h2zeh
pennypicker
16 Sep 14 15:04:36
RT @Street_Insider: After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
Pacmick
16 Sep 14 14:58:40
RT @Street_Insider: After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
Day Trade Alerts
16 Sep 14 14:57:57
RT @Street_Insider: After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
Streetinsider.com
16 Sep 14 14:56:05
After-Hours Stock Movers 9/16: $AUXL $NSPR $YRCW Higher; $RAX $ADBE $SXL Lower (more...) http://t.co/PvtqbU2DWZ
Large Void Bot
16 Sep 14 14:00:24
Popular: $TKMR, $BA, $APOG, $KING, $FEIC, $SXL, $BRK.A, $AGN, $ADHD, $XIV, $CTCT, $BMY, $CODE
ChartMill
16 Sep 14 13:58:03
#stocks some aftermarket losers http://t.co/teDwVpgBfn $RAX $ADBE $SXL
MarketCurrents
16 Sep 14 13:46:33
Sunoco Logistics in 7.7M-unit public offering http://t.co/9Qp7yD75sk $SXL
NASDAQ
16 Sep 14 13:15:08
$SXL - Sunoco Logistics Partners L.P. Announces Public Offering of Common Units http://t.co/wACKk9oeEV
BV Basic Materials
16 Sep 14 13:12:08
$SXL Sunoco Logistics Partners L.P. Announces Public Offering of Common Units.. http://t.co/huUUm4gJn9
Stock Signaling
15 Sep 14 01:31:15
Basic Materials Sector: Upgrades: $NOR $CVRR $PXD $NTi $TPLM $AU $SXL $HUN $CVX $PPP $MRO $TRGP $TOT $FNV $MT http://t.co/Vtx6dLy0Nw #stock
Market Int Center
12 Sep 14 11:35:59
Sunoco Logistics $SXL Showing Resistance Near $50.87 ( http://t.co/ETUk2mGywW )
Sleek Money
12 Sep 14 05:09:33
Sunoco Logistics Partners L.P. Raised to “Outperform” at Zacks $SXL http://t.co/5ND37VpKp8
InterCooler
12 Sep 14 05:06:45
Sunoco Logistics Partners L.P. Raised to “Overweight” at Barclays $SXL http://t.co/BQiZHxgMcW
StockChats
11 Sep 14 05:58:14
Stock Upgrades $AUXL $HIG $IMPV $NDLS $SXL $TWTR http://t.co/RxbbPoommR
monestsignalen
11 Sep 14 01:27:03
#aandelen nieuw highs voor vandaag - http://t.co/NLFByadN3v $ITMN $ZLTQ $SXL
TipRanks
10 Sep 14 22:48:05
4-star analyst Brian Zarahn from Barclays upgraded rating on $SXL to BUY. Brian has a 75.0% success rate http://t.co/MD7T9OSI5V
High-Yield Today
10 Sep 14 14:13:38
Performance of today's pick- $SXL #highyieldtoday http://t.co/ipY7L6F3Y7
WallStreetConsensus
10 Sep 14 12:08:53
Upgrades 9/10: $AUXL, $TPLM, $CPE, $COH, $HIG, $IMPV, $SXL, $LB, $HUN, $TMH, $URBN, $HK http://t.co/9dJe8D2URE
US Stock Ratings
10 Sep 14 11:07:05
Barclays upgrades $SXL from Equal Weight to Overweight, target price from $50.0 to $58.0 http://t.co/fXuVseE7hs
Briefing.com
10 Sep 14 10:36:58
$SXL: Barclays ups to Overweight
US Banking News
10 Sep 14 10:15:26
Sunoco Logistics Partners L.P. Upgraded at Zacks $SXL http://t.co/0j4pbtNjKP
InterCooler
10 Sep 14 10:05:20
Sunoco Logistics Partners L.P. Lifted to Outperform at Zacks $SXL http://t.co/9HPjtjUbQu
US Consumer News
10 Sep 14 09:48:53
Sunoco Logistics Partners L.P. upgraded by Zacks to outperform. $60.00 PT. http://t.co/8eK6TkH2B2 $SXL #SXL
Ticker Report
10 Sep 14 09:46:02
Sunoco Logistics Partners L.P. Upgraded by Zacks to Outperform $SXL http://t.co/JZUYdfzuEc
Media Sentiment
10 Sep 14 09:43:25
$SXL received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 281
Analyst Ratings
10 Sep 14 09:42:01
Sunoco Logistics Partners L.P. upgraded by Zacks to outperform. $60.00 PT. http://t.co/JL03M2FFJ4 $SXL #SXL
ChartMill
10 Sep 14 08:29:02
http://t.co/y1PJqfUaMd new highs on #stocks $SXL $ENPH $MFRM
High-Yield Today
10 Sep 14 07:56:14
$SXL #highyieldtoday
David Yablon
10 Sep 14 07:36:36
All time highs $ENB $EPD $MDT $MO $SXL
Stock Signaling
10 Sep 14 07:31:24
Upgrades: $PKY $RBS $TPLM $TMH $AU $NDLS $SXL $HUN $IMPV $TWTR $HIG $CVX $CY $AMBA $SGMS http://t.co/Vtx6dLy0Nw #watchlist #investing #nyse
The Fly
10 Sep 14 07:00:43
$ABGLY $MT $CRH $CPE $COH $HIG $HUN $IMPV $LB $MCS $NDLS $SXL $TPLM $TWTR On The Fly: Analyst Upgrade Summary:... http://t.co/OFarPwa4aN
Large Void Bot
10 Sep 14 06:50:12
New 52wk Highs: $SXL
				
				
By  +Follow September 19, 2013 11:15AM
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