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Enterprise Products' New Terminal to Load Oil at Faster Rate
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Enterprise Products Partners L.P. (EPD - Free Report) announced its intention to build a crude export terminal, which will be located off the coast of Texas.
The facility is expected to possess the ability to load Very Large Crude Carriers (VLCC) to its full capacity. In other words, the partnership is willing to develop an export terminal, which will be able to load crude at a faster rate with higher cost efficiency in the VLCC with capacity as high as 2 million barrels. The loaded oil will then be exported to the leading markets including Europe and Asia.
For regulatory approvals, the partnership has commenced preparing applications. Enterprise Products is also gearing up for the front-end engineering and design of the project – which is likely to comprise a pipeline with 42-inch diameter covering 80 miles. The transported crude through the pipeline will then be loaded to the VLCC at a rate of 85,000 barrels per hour.
The firm added that the project will be funded entirely by private capital and there would be no dependency on the government agency, both at the state and federal levels. This will enable Enterprise Products to start the project on time, subject to the customers’ and regulatory approvals.
Enterprise Products also informed that crude is being loaded in second VLCC at the port - of Texas City. The partnership will be able to fill roughly 1.1 million barrels of crude volumes in the Eagle Victoria vessel owing to the shallowness of water there. As a result, the remaining volumes will be carried a little further by another vessel and then be filled up in the VLCC.
Headquartered in Houston, TX, Enterprise Products has diverse midstream infrastructure properties including oil and gas pipelines plus storage assets. Over the past year, the stock has gained 2% against the 10.8% decline of the industry it belongs to.
Presently, the stock carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include Continental Resources, Inc. , Murphy Oil Corporation (MUR - Free Report) and Marathon Oil Corporation (MRO - Free Report) . While Marathon Oil has a Zacks Rank #2 (Buy), Continental Resources and Murphy Oil sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Continental Resources’ earnings beat the Zacks Consensus Estimate in the last three quarters, the average positive surprise being 80.5%.
Murphy Oil’s bottom line surpassed the consensus mark in each of the last four quarters, the average earnings surprise being 102.5%.
We expect Marathon Oil to witness year-over-year earnings growth of 336.8% in 2018.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Enterprise Products' New Terminal to Load Oil at Faster Rate
Enterprise Products Partners L.P. (EPD - Free Report) announced its intention to build a crude export terminal, which will be located off the coast of Texas.
The facility is expected to possess the ability to load Very Large Crude Carriers (VLCC) to its full capacity. In other words, the partnership is willing to develop an export terminal, which will be able to load crude at a faster rate with higher cost efficiency in the VLCC with capacity as high as 2 million barrels. The loaded oil will then be exported to the leading markets including Europe and Asia.
For regulatory approvals, the partnership has commenced preparing applications. Enterprise Products is also gearing up for the front-end engineering and design of the project – which is likely to comprise a pipeline with 42-inch diameter covering 80 miles. The transported crude through the pipeline will then be loaded to the VLCC at a rate of 85,000 barrels per hour.
The firm added that the project will be funded entirely by private capital and there would be no dependency on the government agency, both at the state and federal levels. This will enable Enterprise Products to start the project on time, subject to the customers’ and regulatory approvals.
Enterprise Products also informed that crude is being loaded in second VLCC at the port - of Texas City. The partnership will be able to fill roughly 1.1 million barrels of crude volumes in the Eagle Victoria vessel owing to the shallowness of water there. As a result, the remaining volumes will be carried a little further by another vessel and then be filled up in the VLCC.
Headquartered in Houston, TX, Enterprise Products has diverse midstream infrastructure properties including oil and gas pipelines plus storage assets. Over the past year, the stock has gained 2% against the 10.8% decline of the industry it belongs to.
Presently, the stock carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include Continental Resources, Inc. , Murphy Oil Corporation (MUR - Free Report) and Marathon Oil Corporation (MRO - Free Report) . While Marathon Oil has a Zacks Rank #2 (Buy), Continental Resources and Murphy Oil sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Continental Resources’ earnings beat the Zacks Consensus Estimate in the last three quarters, the average positive surprise being 80.5%.
Murphy Oil’s bottom line surpassed the consensus mark in each of the last four quarters, the average earnings surprise being 102.5%.
We expect Marathon Oil to witness year-over-year earnings growth of 336.8% in 2018.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>