Nice update on COP's strategic plan at Motley Fool: selling Nigerian assets to fund major shale move; is counting on $100 oil.
Enbridge raised its dividend 11%. Zack's is reporting. At SeekingAlpha, seven (7) stocks providing positive feedback with higher dividends. Enbridge is the first one listed. MarketWatch contributor calls Enbridge Energy Partners the most compelling play in the MLP space. And the EPA will put lives of blue collar men at risk dredging in the middle of winter. Meanwhile, the EPA bureaucrats in Washington will have snow-days throughout the 2013 - 2014 winter.
PSX is on the move. PSX announces new $2 billion share buyback program. Will hike spending 40% next year.
PSX surges to yet another 52-week high. XOM is trading near it's 52-week high.
ConocoPhillips announced a 2014 capital expenditures budget of $16.7 bln for continuing operations; reaffirms production target: Co announced a 2014 capital expenditures budget of $16.7 bln for continuing operations. Investments during 2014 will target the company's diverse portfolio of global opportunities. Approximately 55 percent of the budget is allocated toward North America and 45 percent toward Europe, Asia Pacific and other international businesses.
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Phillips 66 announces new $2 bln share repurchase program: Co's Board has approved a new $2 billion share repurchase program, consistent with the company's strategy to grow shareholder distributions. Since the third quarter of last year, Phillips 66's board of directors has authorized a total of $5 billion in share repurchases and raised quarterly dividends from 20 cents per share to 39 cents per share. The company has repurchased $2 billion of its shares as of October 2013.
From Platts: EPP begins Appalachia-to-Texas ethane line fill.
Enterprise Products Partners LP (EPP) began injecting ethane into the Appalachia-to-Texas Express (ATEX) pipeline in late November and will continue through this month. The company expects commercial service to begin January 2014. The 1,230-mile ATEX pipeline starts in Washington County, Pa., and is, or will be, connected to four fractionators in the Marcellus-Utica shale region, including the MarkWest Houston plant in Pennsylvania and Cadiz plant in Ohio, the Blue Racer Natrium plant in West Virginia, and the Utica East Ohio Scio plant.
ATEX will have an initial capacity of 125,000 b/d, expandable to at least 265,000 b/d. Firm ship-or-pay transportation agreements with 15-year terms support the project. About 65,000 b/d of those contracted volumes are expected to move initially, ramping up to more than 130,000 b/d transported beginning in 2018.
ATEX ends at EPP’s Mont Belvieu, Tex., complex, which has more than 100 million bbl of NGL and petroleum liquid storage, more than 750,000 b/d of fractionation, and an extensive NGL distribution system. EPP says with the addition of its Aegis ethane pipeline now under construction, ATEX will link Marcellus-produced ethane to every existing ethylene production facility in the US and provide supply security to support construction of new crackers currently planned for the Gulf Coast.
