LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free research report on Sanchez Midstream Partners L.P. (NYSE: SNMP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SNMP as the Company's latest news hit the wire. On May 23, 2018, the Company announced that it has signed a deal with Targa Resources Corp. (NYSE: TRGP) (''Targa''), pursuant to which both parties have merged their respective 50% interests in the entities that own the high pressure Carnero Gathering Line and Raptor Gas Processing Facility to form an expanded 50/50 joint venture (JV) in South Texas. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Sanchez Midstream Partners and Targa Resources most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Details of JV
- In addition to owning the Raptor Gas Processing Facility, the Carnero JV has acquired Targa's 200 million cubic feet per day Silver Oak II Gas Processing Plant, located in Bee County Texas, which expands the processing capacity of JV from 260 MMcf/d to 460 MMcf/d, and owns the full capacity of the Carnero Gathering Line.
- Additional enhancements to the parties' prior this JV includes new dedication of over 315,000 gross Comanche acres in the Western Eagle Ford, operated by Sanchez Energy Corporation (SN), under a new long-term firm gas gathering and processing agreement.
- The deal with Sanchez Energy, which has been approved by all of the unaffiliated Comanche working interest partners, establishes commercial terms for the gathering of gas on the Carnero Gathering Line and processing at the Raptor Gas Processing Facility and Silver Oak II.
- Prior to execution of the agreement, Comanche volumes were gathered and processed on an interruptible basis, with the processing capabilities of JV limited by the capacity of the Raptor Gas Processing Facility.
Carnero JV Enhances SNMP's Midstream Strategy; Secures and Expands its Third-Party Volumes
Gerry Willinger, CEO of the General Partner of SNMP, stated that the Carnero JV enhances the Company's midstream strategy, secures and expands its third-party volumes, and is expected to provide additional stable, fee-based cash flow to the Partnership over time.
According to him, the structure of the transaction greatly simplifies SNMP's previous joint ventures with Targa, which facilitates greater operating efficiencies and provides a solid platform for the continuing growth of the Carnero JV in South Texas.
Gerry added that the transaction is expected to be immediately accretive to the Partnership, with benefits that increase as the joint venture services the needs of Sanchez Energy and other producers and marketers in South Texas.
Gerry further stated that by adding Silver Oak II and the additional capacity of the Carnero Gathering Line to the Carnero JV, the Company's South Texas midstream assets, which include Western Catarina Midstream and the Seco Pipeline, are strategically positioned to capture the increase in volumes from the significant development activity underway in the Western Eagle Ford without spending any incremental development dollars.
About Sanchez Midstream Partners L.P.
Sanchez Midstream Partners is a growth-oriented publicly-traded limited partnership focused on the acquisition, development, ownership, and operation of midstream and other energy related assets in North America. The Partnership has ownership stakes in oil and natural gas gathering systems, natural gas pipelines, and a natural gas processing facility, all located in the Western Eagle Ford in South Texas.
Stock Performance Snapshot
May 24, 2018 - At Thursday's closing bell, Sanchez Midstream Partners' stock marginally declined 0.42%, ending the trading session at $11.95.
Volume traded for the day: 27.31 thousand shares.
Stock performance in the last three-month - up 10.65%; previous six-month period - up 4.82%; and year-to-date - up 7.66%
After yesterday's close, Sanchez Midstream Partners' market cap was at $174.71 million.
The stock has a dividend yield of 15.06%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Pipelines industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the ''Author'') and is fact checked and reviewed by a third-party research service company (the ''Reviewer'') represented by a credentialed financial analyst. For further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the ''Sponsor''), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.