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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
4-traders.com
1 Mar 15 01:00:40
#SOUTHERN CROSS MEDIA GROUP LTD : ex-dividend day for interim dividend http://t.co/BJ91ITlgiI $SXL
StockNewsWires
28 Feb 15 06:21:03
$SXL: Stocks Losing their Charm - Sunoco Logistics Partners (SXL), NXP ...: http://t.co/dslC0DMjv5
Daily Contracts
27 Feb 15 12:49:01
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvJ594
ProVesting
27 Feb 15 09:01:03
$SXL: Large Inflow of Money Witnessed in Sunoco Logistics Partners L.P.: http://t.co/cTNuyMfOvN
NewsHedge Squawk
27 Feb 15 08:32:10
$SXL SPIKED via ~ @NewsHedge
ProVesting
27 Feb 15 06:56:07
$SXL: Analyst Rating Update on Sunoco Logistics Partners LP: http://t.co/gmVP7iCzLU
NASDAQ
26 Feb 15 13:01:07
$SXL - Sunoco Logistics Partners L.P. Filed Form 10-K with the Securities and Exchange Commission http://t.co/FhuJqYmrfJ
4-traders.com
26 Feb 15 13:01:03
#Sunoco Logistics Partners : Filed Form 10-K with the Securities and Exchange ... http://t.co/2wuNmFa8VN $SXL
NASDAQ
26 Feb 15 12:41:01
$SXL - Annual Report (10-k) http://t.co/AxP6HPSXdC
BV Basic Materials
26 Feb 15 12:40:05
$SXL Sunoco Logistics Partners L.P files Form 10-K (Annual Reports) SEC Filing.. http://t.co/P8vayIJla3
ProVesting
26 Feb 15 12:40:02
$SXL: New SEC Filing for SXL: Form 10-K (No. 0001161154-15-000009): http://t.co/1o54nDvCnP
Company SEC Filings
26 Feb 15 12:39:10
NEW SEC Filing for $SXL filed a moment ago: http://t.co/ZDE5xG3iCP http://t.co/mpm5w6nt2p
Instrumental Data
26 Feb 15 12:38:30
SUNOCO LOGISTICS PARTNERS L.P. $SXL 10-K now available
InterCooler
26 Feb 15 05:48:27
Sunoco Logistics Partners L.P. Receives “BBB” Credit Rating $SXL http://t.co/sF0HbIBflA
CMCMFIN
25 Feb 15 19:49:09
RT @FinancialReview: Southern Cross #Media's debt cutting plan is not enough, says @CreditSuisse. $SXL #ausbiz http://t.co/0k79xYMrxZ
beach comber
25 Feb 15 16:07:52
RT @FinancialReview: Southern Cross #Media's debt cutting plan is not enough, says @CreditSuisse. $SXL #ausbiz http://t.co/0k79xYMrxZ
Financial Review
25 Feb 15 16:03:05
Southern Cross #Media's debt cutting plan is not enough, says @CreditSuisse. $SXL #ausbiz http://t.co/0k79xYMrxZ
Partner Financial
25 Feb 15 14:55:14
RT @ASX: #ASX200. Yesterday's biggest risers were STHNXMEDIA $SXL, up 18.18%, RTL FOOD $RFG, up 15.29% & SEVEN GRP $SVW, up 10.84%. #ASXTop…
Sam
25 Feb 15 14:39:51
RT @ASX: #ASX200. Yesterday's biggest risers were STHNXMEDIA $SXL, up 18.18%, RTL FOOD $RFG, up 15.29% & SEVEN GRP $SVW, up 10.84%. #ASXTop…
VADAR : VentureRadar
25 Feb 15 14:05:14
Slam #TSXV $SXL announces $600,000 private placement http://t.co/Evdg5WKrIj #BaseMetals #PreciousMetals
WR Capital Trading
25 Feb 15 13:22:43
RT @ASX: #ASX200. Yesterday's biggest risers were STHNXMEDIA $SXL, up 18.18%, RTL FOOD $RFG, up 15.29% & SEVEN GRP $SVW, up 10.84%. #ASXTop…
McKillopFin.Planning
25 Feb 15 13:12:19
RT @ASX: #ASX200. Yesterday's biggest risers were STHNXMEDIA $SXL, up 18.18%, RTL FOOD $RFG, up 15.29% & SEVEN GRP $SVW, up 10.84%. #ASXTop…
ASX
25 Feb 15 13:00:02
#ASX200. Yesterday's biggest risers were STHNXMEDIA $SXL, up 18.18%, RTL FOOD $RFG, up 15.29% & SEVEN GRP $SVW, up 10.84%. #ASXTop3.
Market Realist
25 Feb 15 12:43:09
Energy Transfer Equity’s 4Q 2014 earnings: A merger dominates $ETE $ETP $RGP $SXL http://t.co/At4DRhIo19
Finance News Network
25 Feb 15 11:42:13
Market Wrap: ASX up despite weak wage growth - $SXL $RFG $XRO $SVW $WOR - http://t.co/LmBzqP3Gu7
Daily Contracts
25 Feb 15 11:37:00
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvJ594
Market Int Center
25 Feb 15 10:23:21
Potential Sunoco Logistics $SXL Trade Has 5.57% Downside Protection ( http://t.co/45bJZEPVTC )
Breaking News Now
25 Feb 15 09:52:06
$SXL: Revenue Update on Sunoco Logistics Partners L.P.: http://t.co/pz8MGkJIpq
StockNewsWires
25 Feb 15 09:51:15
$SXL: Revenue Update on Sunoco Logistics Partners L.P.: http://t.co/k1KJ8rnvd8
StockNewsWires
25 Feb 15 08:27:13
$SXL: Sunoco Logistics Partners L.P. Price Target Raised to $58.00 (SXL): http://t.co/85iHmGdsWe
ProTradersNews
25 Feb 15 08:26:10
$SXL: Sunoco Logistics Partners L.P. Price Target Raised to $58.00 (SXL): http://t.co/LmcYxupJZL
WKRB News
25 Feb 15 08:20:34
Sunoco Logistics Partners L.P. Price Target Raised to $58.00 $SXL http://t.co/q9apdkhqHG
franked
24 Feb 15 21:59:54
The 5 top gaining #asx300 stocks today $SXL +18.18%, $RFG +15.29%, $IFM +12.32%, $SVW +10.84%, $BRG +10.46% #asx #ausbiz
Ric
24 Feb 15 21:59:17
RT @CommSec: Biggest gains on the ASX200 today: $SXL up 18.2%, $RFG up 15.3%, $SVW up 10.8%, $BRG up 10.5%, $PNA up 8.5% #ausbiz^TP
Some Adventures
24 Feb 15 21:34:26
ASX 200 Top & Flop - Feb 25, 2015. $SXL and $RFG riding high, while $WOR was sold off on the #asx200 today. #ausbix… http://t.co/JVKiZNny3f
Forex News & Tips
24 Feb 15 21:25:20
RT @CommSec: Biggest gains on the ASX200 today: $SXL up 18.2%, $RFG up 15.3%, $SVW up 10.8%, $BRG up 10.5%, $PNA up 8.5% #ausbiz^TP
CommSec
24 Feb 15 21:18:16
Biggest gains on the ASX200 today: $SXL up 18.2%, $RFG up 15.3%, $SVW up 10.8%, $BRG up 10.5%, $PNA up 8.5% #ausbiz^TP
Owen Raszkiewicz
24 Feb 15 20:11:21
Southern Cross Media Group Ltd shares soar 11% on HY results: It could be time to get out. #ausbiz $SXL http://t.co/CW03G2AxwW
Ryan Newman
24 Feb 15 20:02:13
Here's why these 4 top ASX stocks are soaring today $XRO $RFG $SXL $MTU #ausbiz http://t.co/RoUzBbx58c
The Motley Fool Aust
24 Feb 15 19:59:03
Shares in media heavyweight Southern Cross $SXL jump 11% on news of a 24% fall in profit #ausbiz http://t.co/7xkc4zV893
BBY Limited
24 Feb 15 19:54:59
Today’s winners on the ASX are $SXL +12.83%, $RFG +11.47%, $SVW +8.9%, $BRG +7.31%. #ausbiz
CommSec
24 Feb 15 19:07:09
Biggest gains on the ASX200 today: $SXL up 13.4%, $RFG up 9.3%, $SVW up 9.1%, $BDR up 8.1%, $PNA up 7.6% #ausbiz ^SD
CommSec
24 Feb 15 19:07:03
Biggest gains on the ASX200 today: $SXL up 13.4%, $RFG up 9.3%, $SVW up 9.1%, $BDR up 8.1%, $PNA up 7.6% #ausbiz ^JR
Lelde Smits
24 Feb 15 16:53:29
RT @Finnewsnetwork: $SXL Southern Cross Media Group H1 profit hurt by TV advertising & radio markets: http://t.co/tbJpiVkEOs
Finance News Network
24 Feb 15 16:50:46
$SXL Southern Cross Media Group H1 profit hurt by TV advertising & radio markets: http://t.co/tbJpiVkEOs
CommSec
24 Feb 15 15:51:48
Biggest gains on the ASX200 today: $SXL up 8.6%, $RFG up 7%, $ORA up 6.9%, $SVW up 5.8%, $QUB up 5.7% #ausbiz ^SD
Robbie Wood
24 Feb 15 14:03:38
RT @CommSec: $SXL Southern Cross Media reports net profit after tax of $34.666m for 6m to December, down from $45.896m a year ago.^CJ #ozea…
Nick Green
24 Feb 15 13:53:12
RT @CommSec: $SXL Southern Cross Media reports net profit after tax of $34.666m for 6m to December, down from $45.896m a year ago.^CJ #ozea…
CommSec
24 Feb 15 13:52:33
$SXL Southern Cross Media reports net profit after tax of $34.666m for 6m to December, down from $45.896m a year ago.^CJ #ozearnings
Gold Investing News
24 Feb 15 11:02:52
$SXL SLAM Exploration Announces Private Placement http://t.co/lVxckkouc5
				
				
By  +Follow September 19, 2013 11:15AM
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