logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Sunoco Announces Open Season on Permian Pipelines, Shares Jump

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

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for SXL
Master LP
4 Sep 15 11:41:38
BBG: $SXL Mid-Valley crude pipeline June shipments ~204k bbl/d, +81% MoM, -11% YoY.
Sleek Money
4 Sep 15 10:07:35
Sunoco Logistics Partners L.P. Receives $49.44 Average Price Target from Brokerages $SXL http://t.co/zegBSffzA3
Snoopy the Trader
4 Sep 15 08:33:29
#mood #Friday $AAPL, $GSAT, $SXL http://t.co/CZWhfCfAAa
Breaking News
4 Sep 15 04:29:02
$SXL: • On the Radar: Keep an eye on energy stocks – Triangle Petroleum …: http://t.co/768yksSf7K
MarketBeatCom
3 Sep 15 15:03:50
Want the latest analyst ratings on $SXL $CB $CFNL $EGBN $PRIM? Get Them Delivered to Your Inbox http://t.co/nSJuDsYidj
Nara
3 Sep 15 11:42:19
$BPZRQ $SONS $RAVN $PWX $CPLP $GSIT $SOFO $SXL Upcoming catalyst for GNSZ. Find details here: https://t.co/gv9He7HRvh
Breaking News
3 Sep 15 04:24:03
$SXL: Shares of Sunoco Logistics Partners LP (NYSE:SXL) Sees Large …: http://t.co/QFOoaTn62y
InvestWithConf
2 Sep 15 22:22:02
$SXL is rated BUY, 43.9% upside by Wall Street analysts based on average ratings/targets http://t.co/Yrb2RJrdmg http://t.co/dmVctc7egE
Daily Contracts
2 Sep 15 12:48:13
$SXL News: Third Amended And Restated Agreement http://t.co/kIIaB0KRW6
Daily Contracts
2 Sep 15 07:00:00
$SXL News: Certificate Of Limited Partnership http://t.co/WR1Eiilv49 #certificateofpartnership
SKS1586
2 Sep 15 05:25:10
One Undervalued Asset... Five Great Ways to Own It. $PAA, $OKS, $SXL http://t.co/R5vxvCijku
US Banking News
1 Sep 15 07:34:29
Sunoco Logistics Partners L.P. Given Consensus Recommendation of “Buy” by Analysts $SXL http://t.co/CINgKMGDsP
Ticker Report
1 Sep 15 07:28:58
Sunoco Logistics Partners L.P. Given Consensus Recommendation of “Buy” by Analysts $SXL http://t.co/QjyP2oxYqZ
Dakota Financial
1 Sep 15 07:24:28
Sunoco Logistics Partners L.P. Given Consensus Recommendation of “Buy” by Analysts $SXL http://t.co/K9WoclFbvw
Consumer News
1 Sep 15 07:20:45
Sunoco Logistics Partners L.P. Given Consensus Recommendation of “Buy” by Analysts $SXL http://t.co/ejFUdcHhNm #acn
Sec Filings
1 Sep 15 06:15:11
$SXL: SUNOCO LOGISTICS PARTNERS L.P. filed a form 8-K. http://t.co/nLlhmhdcsq
ProVesting
1 Sep 15 06:15:04
$SXL: New SEC Filing for SXL: Form 8-K (No. 0001161154-15-000036): http://t.co/trnCOBvBfb
New SEC Filings
1 Sep 15 06:14:06
NEW SEC Filing for $SXL filed a moment ago: http://t.co/ShKWYFvWMU http://t.co/k6xqNPh9on
ProTradersNews
31 Aug 15 20:25:04
$SXL: Sunoco Logistics Partners LP Analyst Rating Update: http://t.co/MsLqkWEe25
stockschamp
31 Aug 15 11:14:26
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/8WvnrVmkBS .. $SXL $SXT $SYA
Consumer News
31 Aug 15 05:42:14
Morningstar Gives BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/Gw3aWabjeB #acn
US Banking News
31 Aug 15 05:39:22
Morningstar Gives BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/CZSVikpdeV
Dakota Financial
31 Aug 15 05:39:00
Morningstar Gives BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/y4duyrSQFk
Ticker Report
31 Aug 15 05:27:02
Morningstar Gives BBB Credit Rating to Sunoco Logistics Partners L.P. $SXL http://t.co/mxYOdpw92t
John W. Green JW
30 Aug 15 17:52:17
RT @CommSec: Biggest declines on the ASX200 today: $MYX dn 5.7%, $SXL dn 3.7%, $PDN dn 3.7%, $CGF dn 3.6%, $MSB dn 3.5% #ausbiz ^TP
CommSec
30 Aug 15 17:51:49
Biggest declines on the ASX200 today: $MYX dn 5.7%, $SXL dn 3.7%, $PDN dn 3.7%, $CGF dn 3.6%, $MSB dn 3.5% #ausbiz ^TP
ProTradersNews
30 Aug 15 06:33:02
$SXL: Sunoco Logistics Partners LP is Expected to Report $0.35: http://t.co/xlgQXUIwNX
iHangout
30 Aug 15 01:09:36
chartguy89: 2015 Trending Stocks: SXL +1.43% Stock Charts $SXL Sunoco Logistics http://t.co/tGfV2m1KHi
Zonebourse News
30 Aug 15 01:00:27
#SOUTHERN CROSS MEDIA GROUP LTD : Détachement de dividende final http://t.co/yKKMd0reE9 $SXL
InvestWithConf
29 Aug 15 10:41:02
$SXL is rated BUY, 40.1% upside by Wall Street analysts based on average ratings/targets http://t.co/Yrb2RJrdmg http://t.co/1Ax2CXa5lv
Breaking News
28 Aug 15 06:17:02
$SXL: Brokerage Firm Ratings Update on Sunoco Logistics Partners LP …: http://t.co/EReDugtDHO
Breaking News Now
28 Aug 15 03:53:02
$SXL: Sunoco Logistics Partners LP (NYSE:SXL) Price Target Update: http://t.co/c34lCNYayC
DailyStockPicks
27 Aug 15 23:43:22
$ANFI huge bounce play as short attack put in doubt. 100%-200% upside potential $HII $LTM $SXL investors read http://t.co/L1jwUVoc1O
Breaking News
27 Aug 15 11:07:02
$SXL: Does Sunoco Logistics Look Attractive Amid Rising Expenses?: http://t.co/vgUp05H4Xl
The Legacy News
27 Aug 15 08:18:10
Insider Buying: Sunoco Logistics Partners L.P. CFO Acquires $51,795.00 in Stock $SXL http://t.co/wIYScnYsjT
Sleek Money
27 Aug 15 06:51:43
Sunoco Logistics Partners L.P. Assigned BBB Credit Rating $SXL http://t.co/39nRYtQiXq
Consumer News
27 Aug 15 05:23:28
Research Analysts’ Recent Ratings Changes for Sunoco Logistics Partners L.P. $SXL http://t.co/rn4TZRZKHc #acn
US Banking News
27 Aug 15 05:21:00
Research Analysts’ Recent Ratings Changes for Sunoco Logistics Partners L.P. $SXL http://t.co/IyqXCGuEBJ
Ticker Report
27 Aug 15 05:13:17
Research Analysts’ Recent Ratings Changes for Sunoco Logistics Partners L.P. $SXL http://t.co/0u0fLdONDc
				
				
By  +Follow September 19, 2013 11:15AM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

Welcome to Equities.com's Small-Cap Throwdown


These Analysts Called Apple's (AAPL) Collapse, Here's What They're Saying Now

7 Dow Stocks Worth Owning and a Lot that Aren't

Sprint Turnaround Has Begun


Saving the

Small-Cap Market

 

Small-cap stocks offer investors many benefits, ranging from higher growth potential to overlooked value opportuni... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN