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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
MICHAEL FILLOON
19 Dec 14 12:10:03
Sunoco Logistics PT cut by Barclays to $57.00.overweight rating. http://t.co/j494OhdLTi $SXL #SXL via @RatingsNetwork http://t.co/un5Bjq6lzl
MICHAEL FILLOON
19 Dec 14 12:09:46
Sunoco Logistics PT cut by Barclays to $57overweight rating. http://t.co/j494OhdLTi $SXL #SXL via @RatingsNetwork http://t.co/un5Bjq6lzl
StockNewsWires
19 Dec 14 11:33:04
$SXL: Sunoco Logistics Partners LP PT Lowered to $57.00 (NYSE:SXL) http://t.co/fdRZ0sXZjy http://t.co/hvDAnge38s
StockNewsWires
19 Dec 14 11:23:05
$SXL: Sunoco Logistics Partners LP Price Target Lowered to $57.00 at ... http://t.co/DwYPZ7P10k http://t.co/YPQ5ucPgWl
Rusty James
19 Dec 14 08:12:06
RT @SAlphaTrending: Looking At Major Pipeline Projects In The Marcellus And Utica Region http://t.co/RJvJfahpsK $ETE $ETP $MWE $PSX $SRE $S…
Donald J Olive
19 Dec 14 08:01:12
RT @SAlphaTrending: Looking At Major Pipeline Projects In The Marcellus And Utica Region http://t.co/RJvJfahpsK $ETE $ETP $MWE $PSX $SRE $S…
Clive Jones
19 Dec 14 08:00:40
RT @SAlphaTrending: Looking At Major Pipeline Projects In The Marcellus And Utica Region http://t.co/RJvJfahpsK $ETE $ETP $MWE $PSX $SRE $S…
Seeking Alpha
19 Dec 14 08:00:03
Looking At Major Pipeline Projects In The Marcellus And Utica Region http://t.co/RJvJfahpsK $ETE $ETP $MWE $PSX $SRE $SXL $TEP
Media Sentiment
19 Dec 14 06:39:50
$SXL received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 163
Market Int Center
19 Dec 14 06:34:58
Sunoco Logistics $SXL Showing Bearish Technicals ( http://t.co/c6auwS3ENN )
Seeking Alpha
19 Dec 14 05:04:00
Looking At Major Pipeline Projects In The Marcellus And Utica Region http://t.co/SHmaW9R0lV $ETE $ETP $MWE $PSX $SRE $SXL $TEP
MLP Data LLC
19 Dec 14 04:57:57
$55 crude? Barclays likes $VLP $SHLX $SXL $PAGP $MPLX due to high growth, coverage and asset locations #mlps http://t.co/qzE0DOr2BK
PJP Capital
19 Dec 14 04:26:41
#Barclays slashing price targets of many #LP's $ARCX $CLMT $DKL $EPD $GLP $NBL $RRMS $SPH $SXL while #portfolioweightings remain constant
CommSec
18 Dec 14 19:34:29
Biggest declines on the ASX200 today: $SXY dn 8.7%, $SXL dn 3.4%, $SGT dn 2.5%, $TEN dn 2.3%, $MML dn 1.5% #ausbiz ^SD
Media Sentiment
18 Dec 14 10:35:02
$SXL received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 347
Market Int Center
18 Dec 14 10:31:39
Sunoco Logistics $SXL Showing Bearish Technicals With Resistance At $44.07 ( http://t.co/Tohx8yqBBn )
ProTradersNews
18 Dec 14 06:18:10
$SXL: Basic Materials Stocks Watch List-Sunoco Logistics (SXL), Sibanye ... http://t.co/OoBcdCDRkV http://t.co/iBwK0kYvdS
US Banking News
18 Dec 14 05:27:29
Sunoco Logistics Partners L.P. Receives BBB Credit Rating $SXL http://t.co/e06guiO9vg
InterCooler
18 Dec 14 05:26:55
Sunoco Logistics Partners L.P. Receives BBB Credit Rating $SXL http://t.co/9IINtq12At
HotKeyTrading
18 Dec 14 03:00:15
Insiders Buying: $FDS $ESL $PTIE $CSX $WG $DRE $MAIN $AF $SXL $BDSI $SN $SPG $SLCA $RIGP $ATRS http://t.co/TRx9EnjwT5 #daytrader #stocks
HotKeyTrading
17 Dec 14 15:00:15
Insiders Buying: $PTIE $CSX $WG $DRE $MAIN $AF $SXL $BDSI $SN $SPG $SLCA $RIGP $ATRS $ADT $MRH http://t.co/TRx9EnjwT5 #dow #swingtrading
chartguy89
17 Dec 14 10:26:06
SXL +3.83% Stock Charts $SXL Sunoco Logistics Partners L.P. (NYSE) Last Updated: 12/17/2014 12:26:04 SXL Stock http://t.co/pbdpM3SmtL
Market Int Center
17 Dec 14 09:26:00
Potential Sunoco Logistics $SXL Trade Has 7.21% Downside Protection ( http://t.co/dTZaTpTWL4 )
Mark L. Brock
17 Dec 14 09:11:22
$EPD Forbes' Dobosz recommends "MVPs among MLPs" http://t.co/G19SNvPYD5 $EPD $MMP $SXL $SEP
MarketCurrents
17 Dec 14 08:55:40
Forbes' Dobosz recommends "MVPs among MLPs" http://t.co/RjT7MDTsun $EPD $MMP $SXL $SEP
BNK Invest
17 Dec 14 07:55:20
Pick Up This Bargain Energy Stock Even Cheaper Than Director Bray Did $SXL $MLPA #energy http://t.co/HAwZng7Oz3
Large Void Bot
17 Dec 14 07:39:11
Daily Reversal (10:39): $SXL Last: 41.92; pHigh: 41.81; rVol: 2.234; pClose: 40.24; LOD: 40.2400; Perf: 4.2%
Daily Contracts
17 Dec 14 06:56:00
Real-Time feed of company contracts, original agreements and executive updates from Sunoco Logistics Partners Lp $SXL http://t.co/HFLQRw0Gh8
HotKeyTrading
17 Dec 14 03:00:14
Insiders Buying: $AF $SXL $BDSI $SN $SPG $SLCA $RIGP $ATRS $ADT $MRH $FTK $VMC $DKS $DFT $WCC http://t.co/TRx9EnjwT5 #watchlist #analytics
Market Int Center
16 Dec 14 10:55:00
Sunoco Logistics $SXL Showing Bearish Technicals With Support At $37.90 ( http://t.co/q9ddPOZC8l )
Ryan Amos
16 Dec 14 04:04:38
RT @ASX: #ASX200. Yesterday's biggest risers were RECALL HLD $REC, up 15.31%, STHNXMEDIA $SXL, up 7.85% & SENEX $SXY, up 7.84%. #ASXTop3.
The God of Trading
15 Dec 14 16:34:03
@TheGodOfTrading Covered #ShortStocks on oversold market - $VIPS, $LNKD, flat; $SXL 13% $KBH 5% $QCOM 3.3% $BIDU 2% gains. #SellingShort
Insider Filings
15 Dec 14 15:58:06
$SXL: Bray Basil Leon bought a net $21,175 in SUNOCO LOGISTICS PARTNERS L.P.. http://t.co/FlWy5tL1jp
NASDAQ
15 Dec 14 15:58:03
$SXL - Amended Statement of Changes in Beneficial Ownership (4/a) http://t.co/1IuQsBxItF
NASDAQ
15 Dec 14 15:58:02
$SXL - Statement of Changes in Beneficial Ownership (4) http://t.co/g0ere5vRp1
Jodie Marquardt
15 Dec 14 13:11:28
RT @ASX: #ASX200. Yesterday's biggest risers were RECALL HLD $REC, up 15.31%, STHNXMEDIA $SXL, up 7.85% & SENEX $SXY, up 7.84%. #ASXTop3.
mat_dunckley
15 Dec 14 13:04:00
RT @ASX: #ASX200. Yesterday's biggest risers were RECALL HLD $REC, up 15.31%, STHNXMEDIA $SXL, up 7.85% & SENEX $SXY, up 7.84%. #ASXTop3.
ASX
15 Dec 14 13:00:01
#ASX200. Yesterday's biggest risers were RECALL HLD $REC, up 15.31%, STHNXMEDIA $SXL, up 7.85% & SENEX $SXY, up 7.84%. #ASXTop3.
BNK Invest
15 Dec 14 09:24:58
Sunoco Logistics Partners Stock Getting Very Oversold $SXL $MLPA #energy http://t.co/Tv3QMt4q3j
Market Int Center
15 Dec 14 07:56:38
Sunoco Logistics $SXL Trading Near $39.89 Support Level ( http://t.co/95X7CbBKFL )
TalkMarkets
14 Dec 14 13:53:18
Presenting The #Dividend Death Watch $SDRL $VNR $LGCY $LINE $BBEP $MWE $EEP $WPZ $SXL $OKS $APL $DO http://t.co/50z2MkbpRK
TalkMarkets Recap
14 Dec 14 07:53:55
Presenting The #Dividend Death Watch $SDRL $VNR $LGCY $LINE $BBEP $MWE $EEP $WPZ $SXL $OKS $APL $DO http://t.co/YOExc99J96
TalkMarkets
14 Dec 14 01:56:26
Presenting The #Dividend Death Watch $SDRL $VNR $LGCY $LINE $BBEP $MWE $EEP $WPZ $SXL $OKS $APL $DO http://t.co/50z2MkbpRK
				
				
By  +Follow September 19, 2013 11:15AM
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