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.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for SXL
FairOaksTrader
28 Nov 14 08:26:37
$SXL holding also feeling the pain of the oil sell off today. 1/4 position only - good illustrations of why I ease into full positions.
WKRB News
28 Nov 14 04:24:01
Zacks Downgrades Sunoco Logistics Partners L.P. to Neutral $SXL http://t.co/6RqGI1oB6A
The Legacy News
27 Nov 14 07:59:46
Sunoco Logistics Partners L.P. Downgraded to “Neutral” at Zacks $SXL http://t.co/uw8yvTHrM8
MICHAEL FILLOON
26 Nov 14 11:14:57
Sunoco Logistics Partners downgraded by Zacks to neutral. $53 PT http://t.co/UCkgWQkSar $SXL #SXL via @RatingsNetwork http://t.co/ucgCUgqgg3
US Banking News
26 Nov 14 10:43:24
Sunoco Logistics Partners L.P. Downgraded by Zacks to Neutral $SXL http://t.co/k2uMPslQP3
InterCooler
26 Nov 14 10:39:43
Sunoco Logistics Partners L.P. Downgraded by Zacks $SXL http://t.co/rHJHXjxJzi
Sleek Money
26 Nov 14 10:34:54
Zacks Downgrades Sunoco Logistics Partners L.P. to Neutral $SXL http://t.co/1tzQl6AOgQ
US Consumer News
26 Nov 14 10:32:28
Sunoco Logistics Partners L.P. downgraded by Zacks to neutral. $53.00 PT. http://t.co/IxtJBXceVw $SXL #SXL
Media Sentiment
26 Nov 14 10:30:09
$SXL received a new alert. Find out why at http://t.co/nZwqRflcZX #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 289
Analyst Ratings
26 Nov 14 10:25:40
Sunoco Logistics Partners L.P. downgraded by Zacks to neutral. $53.00 PT. http://t.co/Ty2sS5ItOV $SXL #SXL
Daily Contracts
26 Nov 14 09:28:00
Real-Time feed of company contracts, original agreements and executive updates from Sunoco Logistics Partners Lp $SXL http://t.co/HFLQRw0Gh8
Media Sentiment
26 Nov 14 07:34:58
$SXL received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 166
Market Int Center
26 Nov 14 07:30:05
Sunoco Logistics $SXL Showing Bullish Technicals With Support At $48.56 ( http://t.co/FAtfUWLS9d )
US Banking News
26 Nov 14 05:28:59
Sunoco Logistics Partners L.P. Earns “BBB” Credit Rating from Morningstar $SXL http://t.co/l81T0wwgy3
FairOaksTrader
25 Nov 14 12:54:01
Just added $MOS Mosaic and $SXL Sunoco to the portfolio on technical signals. Added 1/4 position on both. Cheers.
Arthur Trupp
25 Nov 14 07:14:57
Phillips 66 Partners Stokes Oil Investors, Gains Fast http://t.co/3Mtd45gd91 #IBDNews via @IBDinvestors $PSXP $EEP $KMP $PAA $SXL $PSX $CVX
Etos Etana
24 Nov 14 11:05:52
RT @IHPosts: DennyT: SXL Stock 50.15 Sunoco Logistics Partners LP $SXL http://t.co/yOatrJ8nT1
Etos Etana
24 Nov 14 11:05:51
RT @IHPosts: DennyT: SXL 50.15 Sunoco Logistics Partners LP $SXL Hit a http://t.co/ANd5HNUJL6
Investors Hangout
24 Nov 14 11:01:14
DennyT: SXL Stock 50.15 Sunoco Logistics Partners LP $SXL http://t.co/yOatrJ8nT1
Investors Hangout
24 Nov 14 11:01:14
DennyT: SXL Stock 50.15 Sunoco Logistics Partners LP $SXL http://t.co/8ihfaEhoBN
Investors Hangout
24 Nov 14 11:01:14
DennyT: SXL 50.15 Sunoco Logistics Partners LP $SXL Hit a http://t.co/ANd5HNUJL6
Investors Hangout
24 Nov 14 11:01:14
DennyT: SXL 50.15 Sunoco Logistics Partners LP $SXL Hit a http://t.co/ueC3UmUtZ6
DennyT
24 Nov 14 10:56:49
SXL Stock 50.15 Sunoco Logistics Partners LP $SXL Hit a 52 week high of 51.13 Closing the day 09:44 at 50.15 - http://t.co/Ssn0AJQrF3
DennyT
24 Nov 14 10:56:27
$SXL SXL 50.15 Sunoco Logistics Partners LP $SXL Hit a 52 week high of 51.13 Closing the day 09:44 at 50.15 -0.98 - http://t.co/iXdVrcO8uU
Alysia Sarkisian
24 Nov 14 06:14:36
RT @SeekingAlpha: Energy Transfer Investor Day: What You Need To Know http://t.co/0arxZF13rr $ETP $RGP $SUN $SXL $ETE
Seeking Alpha
24 Nov 14 06:09:57
Energy Transfer Investor Day: What You Need To Know http://t.co/0arxZF13rr $ETP $RGP $SUN $SXL $ETE
Market Int Center
24 Nov 14 05:32:10
Sunoco Logistics $SXL Showing Support Near $49.54 ( http://t.co/JqK3KWibbq )
NASDAQ
24 Nov 14 05:31:15
$SXL - Phillips 66 and Energy Transfer Announce Open Season for Nederland to St. James Crude Oil Pipeline http://t.co/IwFev4HlFb
chartguy89
24 Nov 14 01:23:51
SXL 51.13 Sunoco Logistics Partners LP Stock Charts $SXL Last Updated: 11/21/14 Last price: 51.13 Total volume http://t.co/mCEufyRMl9
Jake13
23 Nov 14 23:41:58
SXL Year to date has changed +35.48% percent. +10.41% in the last 30 days. $SXL Sunoco Logistics Partners LP F http://t.co/WraSgkhhkk
ALittleLonger
23 Nov 14 23:17:19
RT @_JohnWalsh_: 24/11/14 Long Watch List Part 5 $SWI $SWKS $SXL $SYMC $TASR $TQNT $TSM $TSO $TTWO $TUES $TXN $TXT $USB $VFC $VOYA $WAB $WE…
HotKeyTrading
23 Nov 14 22:00:06
All-Time Highs: $AON $BRFS $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL http://t.co/Vv2VEnpBuv #swingtrading #nyse
Tanguay
23 Nov 14 20:46:13
RT @_JohnWalsh_: 24/11/14 Long Watch List Part 5 $SWI $SWKS $SXL $SYMC $TASR $TQNT $TSM $TSO $TTWO $TUES $TXN $TXT $USB $VFC $VOYA $WAB $WE…
Eric
23 Nov 14 17:40:30
RT @_JohnWalsh_: 24/11/14 Long Watch List Part 5 $SWI $SWKS $SXL $SYMC $TASR $TQNT $TSM $TSO $TTWO $TUES $TXN $TXT $USB $VFC $VOYA $WAB $WE…
DennyT
23 Nov 14 16:45:07
SXL Stock 51.13 Sunoco Logistics Partners LP $SXL Hit a 52 week high of 52.47 Closing the day 11/21/14 at 51.1 http://t.co/JVzbNlf4nQ
BlackCabbieTrader
23 Nov 14 14:54:58
24/11/14 Long Watch List Part 5 $SWI $SWKS $SXL $SYMC $TASR $TQNT $TSM $TSO $TTWO $TUES $TXN $TXT $USB $VFC $VOYA $WAB $WERN $WRB $WSM
HotKeyTrading
23 Nov 14 10:00:05
All-Time Highs: $AON $BRFS $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL http://t.co/Vv2VEnpBuv #finance #mkt #nyse
Tsachy Mishal
23 Nov 14 04:01:29
$ETP had said they wouldn't issue new units. They hold billions of units in $SXL, $RGP & $SUN. They should have sold those.
HotKeyTrading
22 Nov 14 22:00:06
All-Time Highs: $AON $BRFS $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL http://t.co/TRx9EnjwT5 #spy #analytics
HotKeyTrading
22 Nov 14 10:00:05
All-Time Highs: $AON $BRFS $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL http://t.co/TRx9EnjwT5 #nasdaq #dow #nyse
HotKeyTrading
21 Nov 14 22:00:05
All-Time Highs: $AON $BRFS $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL http://t.co/TRx9EnjwT5 #daytrader #analyst
Stock Signaling
21 Nov 14 21:31:29
Yesterday's All-Time Highs: $AON $BRFS $BPL $MPC $KEYS $ACMP $HON $FL $PPG $RPM $DLPH $EEP $ZAYO $SXL $SBAC http://t.co/S9oPUZ8PN3 #finance
Julien Bourneuf
21 Nov 14 13:06:25
RT @nanexllc: 3 stocks go wild near close $GEL $BPL $SXL
Jay Prideaux
21 Nov 14 13:02:15
RT @nanexllc: 3 stocks go wild near close $GEL $BPL $SXL
Jorge Cantu
21 Nov 14 12:59:06
RT @nanexllc: 3 stocks go wild near close $GEL $BPL $SXL
Eric Scott Hunsader
21 Nov 14 12:58:40
3 stocks go wild near close $GEL $BPL $SXL
MarketScreener
21 Nov 14 11:56:43
Sunoco Logistics Partners L.P.: The stock is testing its highs. $SXL http://t.co/dnGFqlqKlQ http://t.co/0jQKoi6kla
Media Sentiment
21 Nov 14 11:18:10
$SXL received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 328
Market Int Center
21 Nov 14 11:16:42
Sunoco Logistics $SXL Showing Bullish Technicals ( http://t.co/WQCpSsy5tj )
HotKeyTrading
21 Nov 14 10:00:05
All-Time Highs: $BPL $MPC $ACMP $FL $KEYS $DLPH $HON $EEP $SBAC $SXL $ADM $SWFT $IPXL $M $KMR http://t.co/Vv2VEnpBuv #mkt #analytics #spy
				
				
By  +Follow September 19, 2013 11:15AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

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