Updates
May 3, 2012: Part II, same topic.
Original Post
On Monday, Energy Transfer kept the deals coming with the $5.3 billion acquisition of Sunoco. This deal certainly launches ETP into the really big leagues, and makes it one of the most diversified players around. And if you read the fine print, they plan to get more diversified by converting gas lines into crude oil lines. The poster child is good ole Texoma pipeline, which was a crude pipe for years before it was converted sometime in the 80s to move natural gas. ETP CEO Kelcy Warren says he has his eye on a few other gas pipeline candidates for conversion. And don’t forget. Up in the Guernsey, WY area Kinder Morgan is converting 500 miles of the Kinder Morgan Interstate Gas Pipeline system into the Pony Express Crude oil pipeline.Much more at the link.
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