We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Energy Transfer (ETP) Gets FERC Nod for its Rover Pipeline
Read MoreHide Full Article
Pipeline operator, Energy Transfer Partners recently declared that its Horizontal Directional Drilling operations for the Rover Pipeline Project have been approved by the Federal Energy Regulatory Commission (FERC).
In May 2017, Energy Transfer was banned from starting its new horizontal directional drilling under roads and waterways by U.S. energy regulators after spilling of around 2 million gallons of drilling fluid in Ohio. Recently the Ohio Environmental Protection Agency fined Energy Transfer Partners $2.3 million for water and air pollution violations.
Significance of the Approval
Permission from U.S. energy regulators will enable the partnership to start horizontal drilling operations in nine locations soon. The partnership will focus on the horizontal drilling of Captina Creek in Belmont County, OH as its completion will enable the partnership to start full Phase 1 part of Rover from Seneca, OH, to Defiance, OH. The phase is scheduled to come online by the end of the year. The partnership expects the $4.2 billion full project to be in service by the end of the first quarter of 2018.
Completion of the 713-mile pipeline will help Energy Transfers to ship around 3.25 billion cubic feet of natural gas per day. The producers in the Marcellus and Utica Shale production areas will benefit from the pipeline's service as it will connect them with the U.S. markets and the Union Gas Dawn Storage Hub located in Ontario, Canada.
Energy Transfer is one of the largest master limited partnerships, with a highly diversified portfolio of energy assets in the United States. The asset list includes 71,000 miles of crude oil, natural gas, natural gas liquids and refined products pipelines, spanning 36 states. It also provides fractionation, storage and terminalling facilities.The partnership is headquartered in Dallas, TX.
Price Performance
Energy Transfer has lost 23.8% of its value year to date compared with 14.2% loss of its industry.
Zacks Rank and Stocks to Consider
Energy Transfer Partners has a Zacks Rank #3 (Hold).
Lonestar Resources’ sales for 2017 are expected to surge 60.2% year over year. The company delivered a positive earnings surprise of 62.5% in the second quarter of 2017.
Subsea’s sales for 2017 are expected to increase 11.6% year over year. The company delivered an average positive earnings surprise of 83.8% in the last four quarters.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
Image: Bigstock
Energy Transfer (ETP) Gets FERC Nod for its Rover Pipeline
Pipeline operator, Energy Transfer Partners recently declared that its Horizontal Directional Drilling operations for the Rover Pipeline Project have been approved by the Federal Energy Regulatory Commission (FERC).
In May 2017, Energy Transfer was banned from starting its new horizontal directional drilling under roads and waterways by U.S. energy regulators after spilling of around 2 million gallons of drilling fluid in Ohio. Recently the Ohio Environmental Protection Agency fined Energy Transfer Partners $2.3 million for water and air pollution violations.
Significance of the Approval
Permission from U.S. energy regulators will enable the partnership to start horizontal drilling operations in nine locations soon. The partnership will focus on the horizontal drilling of Captina Creek in Belmont County, OH as its completion will enable the partnership to start full Phase 1 part of Rover from Seneca, OH, to Defiance, OH. The phase is scheduled to come online by the end of the year. The partnership expects the $4.2 billion full project to be in service by the end of the first quarter of 2018.
Completion of the 713-mile pipeline will help Energy Transfers to ship around 3.25 billion cubic feet of natural gas per day. The producers in the Marcellus and Utica Shale production areas will benefit from the pipeline's service as it will connect them with the U.S. markets and the Union Gas Dawn Storage Hub located in Ontario, Canada.
Energy Transfer has The Blackstone Group L.P. (BX - Free Report) as a fellow stakeholder in the Rover Pipeline project.
About the Partnership
Energy Transfer is one of the largest master limited partnerships, with a highly diversified portfolio of energy assets in the United States. The asset list includes 71,000 miles of crude oil, natural gas, natural gas liquids and refined products pipelines, spanning 36 states. It also provides fractionation, storage and terminalling facilities. The partnership is headquartered in Dallas, TX.
Price Performance
Energy Transfer has lost 23.8% of its value year to date compared with 14.2% loss of its industry.
Zacks Rank and Stocks to Consider
Energy Transfer Partners has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the oil and energy sector are Lonestar Resources US Inc. and Subsea 7 SA (SUBCY - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lonestar Resources’ sales for 2017 are expected to surge 60.2% year over year. The company delivered a positive earnings surprise of 62.5% in the second quarter of 2017.
Subsea’s sales for 2017 are expected to increase 11.6% year over year. The company delivered an average positive earnings surprise of 83.8% in the last four quarters.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
See these buy recommendations now >>