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Penn West Petroleum Ltd. Message Board

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  • spinergy888 spinergy888 Feb 3, 2013 8:32 AM Flag

    Capline Pipe Reversal

    I could see why Marathon would want to reverse this pipeline with the purchase of the Texas City refinery in order to obtain cheap canadian oil.

    "This is a unique opportunity to acquire, at an attractive price, a world-scale refinery on the western Gulf Coast that is well positioned to benefit from the growing supply of North American crude oil," said MPC President and Chief Executive Officer Gary R. Heminger. "The refinery and related assets should enhance our current footprint by integrating well with our existing operations. This transaction will provide MPC the opportunity to grow in contiguous markets, expand our export opportunities and further optimize our Gulf Coast operations. We believe this transaction will create long term value for our shareholders."

    Sentiment: Strong Buy

1.37-0.01(-0.72%)Jul 22 4:02 PMEDT