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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]

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Results for SXL
Víctor
2 May 15 13:40:23
RT @SeekingAlpha: Capital Product Partners Q1 Update: Steady Steaming http://t.co/YjzhQvawa7 $EPD $MMP $PAA $SXL $CPLP
Alysia Sarkisian
2 May 15 13:37:06
RT @SeekingAlpha: Capital Product Partners Q1 Update: Steady Steaming http://t.co/YjzhQvawa7 $EPD $MMP $PAA $SXL $CPLP
Income Investing SA
2 May 15 13:33:27
Capital Product Partners Q1 Update: Steady Steaming http://t.co/h9HSmCiyud $EPD $MMP $PAA $SXL $CPLP
Dividend Investing
2 May 15 13:33:27
Capital Product Partners Q1 Update: Steady Steaming http://t.co/9egLP7GIeP $EPD $MMP $PAA $SXL $CPLP
Seeking Alpha
2 May 15 13:33:27
Capital Product Partners Q1 Update: Steady Steaming http://t.co/YjzhQvawa7 $EPD $MMP $PAA $SXL $CPLP
Breaking News
2 May 15 08:02:01
$SXL: Sunoco Logistics Partners L.P. To Go Ex-Dividend on May 7th (SXL): http://t.co/8DoDJ3nO0T
BNK Invest
1 May 15 11:41:01
Use Options For a Chance To Buy $SXL at a 14% Discount $MLPA #stockoptions http://t.co/Ot3JV168vQ
Media Sentiment
30 Apr 15 05:05:24
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 210
US Banking News
30 Apr 15 05:04:33
Sunoco Logistics Partners L.P. Director Sells C$500.00 in Stock $SXL http://t.co/jpyCQ6CDrw
Media Sentiment
29 Apr 15 22:24:53
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 938
US Consumer News
29 Apr 15 22:24:07
Sunoco Logistics Partners L.P. Director Selen Okay Sells $500 in $SXL http://t.co/HlqGxfpkEl
US Banking News
29 Apr 15 22:23:57
Sunoco Logistics Partners L.P. Director Selen Okay Sells $500 in $SXL http://t.co/3qlR5maQ7P
CommSec
29 Apr 15 18:01:13
Biggest gains on the ASX200 today: $MSB up 2.9%, $SXL up 2.6%, $AWE up 2.5%, $GMA up 2.4%, $LNG up 2.2% #ausbiz ^TP http://t.co/kt2JE2QDMu
Daily Contracts
29 Apr 15 11:22:00
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvruhw
StockNewsWires
29 Apr 15 11:15:02
$SXL: New SEC Filing for SXL: Form 8-K (No. 0001161154-15-000017): http://t.co/h1SOQfG2ZF
Latest SEC Filings
29 Apr 15 11:14:09
NEW SEC Filing for $SXL filed a moment ago: http://t.co/fasHqzEILY http://t.co/3ZrZUvYqGL
Market Int Center
29 Apr 15 08:04:10
Potential Sunoco Logistics $SXL Trade Has 10.93% Downside Protection ( http://t.co/L6HGRD1BMK )
Breaking News
28 Apr 15 15:32:04
$SXL: Sunoco Logistics Partners L.P. Plans Quarterly Dividend of $0.42 ...: http://t.co/saigFHWBsq
Briefing.com
28 Apr 15 15:28:51
$SXL: Sunoco Logistics announces a 5% increase in its quarterly distribution to $0.419/unit from $0.40/unit http://t.co/f6ZFaNoSga
Ticker Report
28 Apr 15 15:26:09
Sunoco Logistics Partners L.P. Plans Quarterly Dividend of $0.42 $SXL http://t.co/RJuvWP7UFr
US Banking News
28 Apr 15 15:24:35
Sunoco Logistics Partners L.P. Plans Quarterly Dividend of $0.42 $SXL http://t.co/utmETFlDr2
Axios
28 Apr 15 13:17:06
RT @mlplongshort: $SXL Sunoco Logistics 12th straight QoQ increase in distribution of 5%+ and 40th straight increase overall...now $1.68 an…
Master LP
28 Apr 15 13:11:01
$SXL Sunoco Logistics 12th straight QoQ increase in distribution of 5%+ and 40th straight increase overall...now $1.68 annualized.
Media Sentiment
28 Apr 15 09:28:33
$SXL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 440
Market Int Center
28 Apr 15 09:22:44
Sunoco Logistics $SXL Showing Bullish Technicals ( http://t.co/kR4uwlAs0S )
Penny Stock Secret
28 Apr 15 03:17:34
Don't Wait Untill 2016 To Realize This POWERFUL Stock Alert Service! $240,000 GAINS! http://t.co/NovWYe2RAx .. $SXL $SXT $SYA
Daily Contracts
27 Apr 15 13:27:00
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvruhw
Daily Contracts
27 Apr 15 12:08:01
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvruhw
Daily Contracts
27 Apr 15 09:03:01
Real-Time feed of company contracts, original agreements and executive updates from $SXL http://t.co/HFLQRvruhw
Market Int Center
27 Apr 15 08:03:05
Sunoco Logistics $SXL Trading Near $43.55 Resistance Level ( http://t.co/D6sl4Jafhu )
				
				
By  +Follow September 19, 2013 11:15AM
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