MarkWest Updates on NGL Pipeline Repair - Analyst Blog
01 10월 2013 - 6:05AM
Zacks
Natural gas processor and distributor, MarkWest Energy
Partners LP (MWE) has issued an update about its natural
gas liquids (NGLs) pipeline, located at Wetzel County, WV, which
was seriously affected by a landslide last month.
MarkWest expects the pipeline, closed since the incident triggered
by torrential rainfall and substantial soil erosion, to resume
operations by the middle of Oct, 2013. The partnership pointed out
that it has taken immediate measures to repair the affected
portions of the pipeline
However, the incident has not affected any of the processing
facilities of MarkWest Energy except Mobley and Sherwood. The
Mobley facility will remain closed until the pipeline is online
again, while the operations at the Sherwood complex have been
reduced. For fractionation and selling purposes, MarkWest Energy is
transporting NGL from the Sherwood facility using trucks.
Management is not expecting its financial report to get impacted
owing to the pipeline incident.
Denver-based MarkWest Energy, a master limited partnership (MLP),
is engaged in the gathering, processing and transmission of natural
gas, transportation, fractionation and storage of NGLs, and the
gathering and transportation of crude oil.
We like MarkWest Energy’s high-quality and diverse portfolio of
midstream assets, which generate stable and recurring revenues from
long-term fee-based contracts.
However, acquisitions have historically played a major role in the
partnership’s growth profile and are expected to remain
significant. MarkWest Energy may find it difficult to complete
accretive transactions in the future, which could negatively impact
its growth rate.
MarkWest Energy currently retains a Zacks Rank #3 (Hold), implying
that it is expected to perform in line with the broader U.S. equity
market over the next one to three months.
Meanwhile, one can look at oil and gas production pipeline MLPs
like Kinder Morgan Energy Partners LP (KMP),
Pioneer Southwest Energy Partners LP (PSE) and
Sunoco Logistics Partners LP (SXL) that offer
better prospects. All the partnerships sport a Zacks Rank #2
(Buy).
KINDER MORG ENG (KMP): Free Stock Analysis Report
MARKWEST EGY PT (MWE): Free Stock Analysis Report
PIONEER SW EGY (PSE): Free Stock Analysis Report
SUNOCO LOGISTIC (SXL): Free Stock Analysis Report
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