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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]

Results for SXL
Stock Star
17 Apr 14 07:25:01
$SXL An investorHs guide to YMLI and its http://t.co/Q5OTRmoXmH
GavinGreenberg
17 Apr 14 06:57:35
$SXL: An investor’s guide to YMLI and its holdings, like Targa Resources http://t.co/W2bwkvnOz1
Jackie Highfield
17 Apr 14 06:55:41
$SXL An investor’s guide to YMLI and its holdings, like Targa Resources http://t.co/BG9uDCbWYw
LoveStockNews
17 Apr 14 06:42:13
$SXL - An investor’s guide to YMLI and its holdings, like Targa Resources -> http://t.co/ld2KLNCOfI #stock #stocks #stockaction
Owen Molloy
16 Apr 14 23:21:31
RT @CommSec: Biggest gains on the ASX200 today: $CGF up 4.2%, $SXL up 4.2%, $PBG up 3.9%, $SXY up 3.5%, $CRZ up 3.1% #ausbiz ^SD
CommSec
16 Apr 14 23:13:17
Biggest gains on the ASX200 today: $CGF up 4.2%, $SXL up 4.2%, $PBG up 3.9%, $SXY up 3.5%, $CRZ up 3.1% #ausbiz ^SD
CommSec
16 Apr 14 21:01:07
Biggest gains on the ASX200 today: $NWH up 3.6%, $CGF up 3.4%, $SXL up 3%, $PBG up 2.9%, $IIN up 2.9% #ausbiz^SD
Mind Equity
16 Apr 14 18:47:19
$SXL A guide to Martin Midstream http://t.co/HOJen64gl8
CommSec
16 Apr 14 17:50:22
Biggest gains on the ASX200 today: $NWH up 4.4%, $SXL up 4.2%, $CRZ up 3.9%, $PBG up 2.9%, $VED up 2.7% #ausbiz ^CJ
Research Star
16 Apr 14 10:23:49
$SXL Antero Resources Operat http://t.co/9DTztR3D90
Horacio Griffins
16 Apr 14 06:34:32
$SXL A guide to Martin Midstream http://t.co/NbjhQMFtrZ
Media Sentiment
16 Apr 14 05:31:40
$SXL received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 130
Market Int Center
16 Apr 14 05:25:01
Sunoco Logistics $SXL Showing Bullish Technicals With Resistance At $88.68 ( http://t.co/UxnbwjuR3Y )
Crew Dailyoxj
16 Apr 14 04:00:37
$SXL A guide to Martin Midstr http://t.co/J1BITwiMZS
Clint Clark
15 Apr 14 20:00:16
$SXL Antero Resources Operat http://t.co/OcXT1JwCOe
Esau Harrisonjoy
15 Apr 14 15:37:44
$SXL A guide to Martin Midstream http://t.co/sDnG92eQlM
Byrne Bray
15 Apr 14 13:45:06
$SXL Sunoco Logistics Partners L.P. Stock Rating Upgraded by Zacks (SXL) http://t.co/yp2TsM1O33
Lars Meath
15 Apr 14 11:35:04
$SXL A guide to Martin Midstr http://t.co/1pBqCEh707
Kohen Fisher
15 Apr 14 11:22:57
$SXL A guide to Martin Midstream http://t.co/WNt6RBYyQl
Market Int Center
15 Apr 14 10:54:08
Potential Sunoco Logistics $SXL Trade Has 5.15% Downside Protection ( http://t.co/AjCZZzeOos )
Pike Gall
15 Apr 14 10:27:18
$SXL A guide to Martin Midstream http://t.co/2xjrMwFeyS
Donte Aldaine
15 Apr 14 05:23:54
$SXL A guide to Martin Midstream http://t.co/ywKvHY9rTc
Lynn Flaherty
14 Apr 14 17:11:13
$SXL A guide to Martin Midstr http://t.co/90meeoRuUn
Byrne Bray
14 Apr 14 15:21:06
$SXL Hottest Energy Stocks Now – RIG ESV DO ATW http://t.co/6RDlMf9hbn
Byrne Bray
14 Apr 14 15:09:34
$SXL With Production Rising, Antero Gets Pragmatic With More Takeaway; Lower ... http://t.co/bLklRGwZcd
Wanetta Zhang
14 Apr 14 13:58:24
$SXL A guide to Martin Midstream http://t.co/srJthpHEln
Media Sentiment
14 Apr 14 13:30:34
$SXL received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 437
Ernst Grosz
14 Apr 14 13:29:04
$SXL: A Wall Street Transcript Interview with Robert Chisholm, a Senior Port... http://t.co/lqUFWWcJ0R
Market Int Center
14 Apr 14 13:22:30
Sunoco Logistics $SXL Showing Bullish Technicals With Support At $84.96 ( http://t.co/2CfgD44vGD )
StockNewsNet
14 Apr 14 13:00:26
$SXL - A Wall Street Transcript Interview with Robert Chisholm, a Senior Port... -> http://t.co/Ol36MFHEr6 #stock #stocks #stockaction
Leonel Liguori
14 Apr 14 12:18:34
$SXL A Wall Street Transcript Interview with Robert Chisholm, a Senior Portfolio Manager with Center Coast Capital Advisors, LP: Current...
Byrne Bray
14 Apr 14 12:08:05
$SXL A Wall Street Transcript Interview with Robert Chisholm, a Senior Portfolio Manager with Center Coast Capital Advisors, LP: Current...
CABuyer
14 Apr 14 11:37:05
$SXL: Antero Resources Operations and Firm Transportation Update http://t.co/7EYf4wDr1W
GavinGreenberg
14 Apr 14 11:30:06
$SXL: Antero Resources Operations and Firm Transportation Update http://t.co/Mz3M9l7SBy
StockNews24
14 Apr 14 11:21:17
$SXL - Antero Resources Operations and Firm Transportation Update -> http://t.co/cBHjHRWf2B #stock #stocks #stockaction
Byrne Bray
14 Apr 14 10:01:06
$SXL Albany Molecular Research Stock Rating Upgraded by Zacks (AMRI) http://t.co/6WVFwZx5Jk
Byrne Bray
14 Apr 14 08:30:05
$SXL Dynagas LNG Partners Upgraded by Zacks to "Outperform" (DLNG) http://t.co/SqzTcLkeFh
Byrne Bray
14 Apr 14 07:12:07
$SXL Sunoco Logistics Partners L.P. Rating Increased to Neutral at Zacks (SXL) http://t.co/OAs9zPVQmx
Ticker Report
14 Apr 14 06:27:32
Sunoco Logistics Partners L.P. Rating Increased to Neutral at Zacks $SXL http://t.co/0ieUdItLWm
Byrne Bray
14 Apr 14 06:16:05
$SXL Antero Resources Operations and Firm Transportation Update http://t.co/rZu0IkhS72
Byrne Bray
14 Apr 14 06:05:06
$SXL Antero Resources Says Q1 Prelim. Gas Production Up 105% YoY http://t.co/zvOTlIlhii
Mendy Feliciano
14 Apr 14 05:53:39
$SXL A guide to Martin Midstream http://t.co/hHjk5D2550
4-traders.com
14 Apr 14 05:35:07
Sunoco Logistics Partners : Antero Resources : Operations and Firm Transportation Update http://t.co/xYTdDLH03r $SXL
Angelena Mosesuo
14 Apr 14 04:40:04
$SXL A guide to Martin Midstream http://t.co/hlG3fjTcb7
Chi Amaya
14 Apr 14 03:45:38
$SXL A guide to Martin Midstream http://t.co/3B05wYCsA6
CommSec
13 Apr 14 17:58:42
Biggest declines on the ASX200 today: $BRU dn 4.2%, $HGG dn 4%, $MFG dn 3.9%, $BDR dn 3.4%, $SXL dn 2.6% #ausbiz ^SD
Boaz Boulstridge
13 Apr 14 09:18:29
$SXL A guide to Martin Midstr http://t.co/MjPTRtymiX
Market Int Center
11 Apr 14 12:07:41
Sunoco Logistics $SXL Showing Bullish Technicals With Resistance At $89.25 ( http://t.co/StIGv5LZZI )
Byrne Bray
11 Apr 14 11:24:10
$SXL Zacks Upgrades Plug Power to Outperform (PLUG) #SXL http://t.co/GWtu4Cfa1I
				
				
By  +Follow September 19, 2013 11:15AM
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