QEP Midstream Partners is about to become a real, live master limited partnership. Parent company QEP Resources (NYSE: QEP ) has filed the appropriate paperwork with the SEC, and while we don't know specifics regarding the number of shares, or how the offering will be priced, the S-1 is chock-full of information for prospective investors.
The assets
According to the prospectus, the new MLP will trade under ticker symbol "QEPM" and will command the following midstream systems that formally belonged to QEP Resources:
The assets comprise 1,475 miles of pipeline with an average throughput of 1.8 million MMbtu of natural gas per day, and 18,224 barrels of crude oil per day. The assets are located in the Green River Basin, the Uinta Basin, and the Williston Basin.
The best part
QEP Midstream provides all of its gathering services through fee-based contracts, which means there are no ups and downs from commodity risk -- just stable, predictable income. This is pretty common for midstream partnerships borne of an oil company spinoff. Holly Energy Partners is a perfect example. Its revenue is 100% fee-based because HollyFrontier (NYSE: HFC ) is more or less its only customer.
Top Supermarket Companies To Invest In 2015: TechTarget Inc (TTGT)
TechTarget, Inc., incorporated on September 14, 1999, is a provider of specialized online content and brand advertising that brings together buyers and sellers of corporate information technology (IT) products. The Company sells customized marketing programs that enable IT vendors to reach corporate IT decision makers who are researching specific IT purchases. As of December 31, 2011, the Company operated a network of 115 Websites, each of which focuses on a specific IT sector, such as storage, security or networking. The Company�� content platform consists of a network of websites that it complement with targeted in-person events. On April 26, 2011 it announced that it had completed the acquisition of the Websites, product offerings, and events associated with Computer Weekly and MicroScope. In December 2012, the Company acquired the Websites and product offerings of LeMagIT.
Media Groups
The Company�� online properties in security sector, SearchSecurity.com, SearchCloudSecurity.com, SearchFinancialSecurity.com, SearchMidMarketSecurity.com and SearchSecurity.co.uk offer navigable and structured guides on IT vendor and technology solutions in key sub-sectors, such as network security, intrusion defense, identity management and authentication, data and application security, security-as-a-service, cloud security and security information management software. Its annual Financial Information Security Decisions conference anchors a calendar of topically-focused regional seminars on issues, such as compliance monitoring, data protection, and advanced threat management. Its networking market includes the hardware, software and services involved in the infrastructure and management of both enterprise and carrier voice and data networks.
The Company�� online properties in networking sector, SearchNetworking.com, SearchEnterpriseWAN.com, SearchUnifiedCommunications.com, SearchMobileComputing.com and SearchCloudProvider.com. The Company�� online properties in storag! e sector, SearchStorage.com, SearchDataBackup.com, SearchSMBStorage.com, SearchDisasterRecovery.com, SearchVirtualStorage.com, SearchCloudStorage.com, SearchSolidStateStorage.com and SearchStorage.co.uk address IT professionals seeking solutions in sub-sectors, such as fiber channel storage area network (SAN), solid state storage, virtualization Internet protocol (IP) and Internet small computer systems interface (iSCSI) SANs, network attached storage (NAS), backup hardware and software, and storage management software.
Data centers house the systems and components, such as servers, storage devices, routers and switches, utilized in large-scale, mission-critical computing environments. The Company�� online properties in this sector provide targeted information on the IT vendors, technologies and solutions that serve these sub-sectors. Its properties in this sector include SearchDataCenter.com, covering disaster recovery, power and cooling, mainframe and UNIX servers, systems management, and server consolidation; SearchEnterpriseLinux.com, focused on Linux migration and infrastructures; Search400.com, covering mid-range computing and SearchCloudComputing.com, which covers private and public cloud infrastructure. SearchServerVirtualization.com covers the decision points and alternatives for implementing server virtualization, while SearchVMware.com and RTFM-ed.co.uk focus on managing and building out virtual environments on the most widely-installed server virtualization platform.
The Company�� online properties in online properties in data centre and virtualization technologies include SearchWindowsServer.com, covering servers, storage, and systems management; SearchDomino.com, SearchExchange.com and SearchWinIT.com, each targeted toward senior management for distributed computing environments. This network of sites provides resources and advice to IT professionals pursuing solutions related to such topics as Windows backup and storage, server consolidation, and upgrade pla! nning. Se! archEnterpriseDesktop.com, SearchVirtualDesktop.com, BrianMadden.com and LabMice.net all focus on the deployment and management of end-user computing environments. The Company�� two BriForum conferences focus on desktop virtualization and related technologies.
The Company�� CIO/IT Strategy media group provides content targeted at Chief Information Officers (CIO), and senior IT executives, enabling them to make informed IT purchases throughout the critical stages of the purchase decision process. The Company�� online properties in this sector include SearchCIO.com, which provides CIOs in large enterprises with information focused on critical purchasing decisions; SearchCIO-Midmarket.com, which targets IT managers at small to medium-sized businesses, and SearchCompliance.com, which provides advice on IT-focused regulations and standards to IT and business executives and other senior IT managers. The CIO/IT Strategy Group also includes online resources and events targeted to IT decision makers in prominent vertical industries. SearchHealthIT.com provides strategic IT purchasing information and advice to senior IT and clinical professionals in hospitals, medical centers, university health centers and other care delivery organizations, as well as organizations in the life.
The Company�� Business Applications and Analytics media group focuses on mission critical software, such as databases and business intelligence, content management enterprise resource planning, and customer facing applications, such as customer relationship management (CRM) software for mid-sized and large companies. The properties in this sector include SearchCRM.com, BeyeNETWORK.com, SearchBusinessAnalytics.com, SearchDataManagement.com, SearchContentManagement.com, SearchOracle.com, SearchSAP.com and SearchManufacturingERP.com. These sites are online resources that provide this specialized information to support mission critical business applications, such as CRM, business intelligence, data management,! content ! management, collaboration, sales force automation, databases and enterprise resource planning (ERP) software. The SMB market supports a high degree of specialization by software vendors, as applications are offered that address the business requirements of specific industry verticals, such as construction, manufacturing, and many others.
The application architecture and development sector is consisted of a broad landscape of tools and languages that enable developers, architects and project managers to build, customize and integrate software for their businesses. The Company�� online properties in this sector include TheServerSide.com and TheServerSide.NET, which host independent communities of developers and architects using Java and .NET respectively.
Its Channel properties address the information needs of channel companies classified as resellers, value added resellers, solution providers, systems integrators, service providers, managed service providers, and consultants in the IT market. Its online properties in this sector include SearchITChannel.com, SearchStorageChannel.com, SearchSecurityChannel.com, SearchNetworkingChannel.com and SearchSystemsChannel.com. TechnologyGuide.com operates a portfolio of Internet content sites that provide product reviews, price comparisons and user forums for technology products, such as laptops, desktops and smartphones. Sites include NotebookReview.com, Brighthand.com (covering smartphones) and TabletPCReview.com, PrinterComparison.com, DesktopReview.com and DigitalCameraReview.com.
User Generated Content and Vendor Content
Bitpipe.com and KnowledgeStorm.com are sites that the Company operates and that host vendor-provided content, such as white papers, software downloads, videocasts and Webcasts. Maintaining centralized collections of this vendor content helps its users conduct pre-purchase research more easily, and allows it to maximize the ability of this content to be found by search engines. It provide! s context! ually relevant inclusion of vendor content from Bitpipe.com and KnowledgeStorm.com on the other sites in its network.
The Company competes with United Business Media, QuinStreet, International Data Group and CBS Interactive/ CNet.
Advisors' Opinion:- [By Garrett Cook]
Technology shares fell around 0.27 percent in Thursday’s trading. Top decliners in the sector included TechTarget (NASDAQ: TTGT), down 5.3 percent, and ChinaCache International Holdings (NASDAQ: CCIH), off 2.11 percent.
- [By CNNMoney Staff]
What's moving: Target (TTGT) shares were under pressure after the retailer said 70 million individuals had information stolen in the recent data breach of credit and debit cards.
10 Best Integrated Utility Stocks To Own Right Now: Western Gas Partners LP (WES)
Western Gas Partners, LP (the Partnership) is a master limited partnership (MLP) organized by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. The Partnership operates in East and West Texas, the Rocky Mountains (Colorado, Utah and Wyoming) and the Mid-Continent (Kansas and Oklahoma) and are engaged primarily in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko and third-party producers and customers. As of December 31, 2011, the Company�� assets consist of 11 gathering systems, seven natural gas treating facilities, seven natural gas processing facilities, one NGL pipeline, one interstate pipeline, and interests in a gas gathering system and a crude oil pipeline. Its assets are located in East and West Texas, the Rocky Mountains (Colorado, Utah and Wyoming), and the Mid-Continent (Kansas and Oklahoma). In August 2012, it has acquired an additional 24% membership interest in Chipeta Processing LLC from Anadarko Petroleum Corporation.
On January 13, 2012, the Partnership completed the acquisition of Anadarko�� 100% ownership interest in Mountain Gas Resources, LLC, which owns the Red Desert Complex (Red Desert), a 22% interest in Rendezvous Gas Services, LLC (Rendezvous) and related facilities. Red Desert includes the Patrick Draw processing plant, the Red Desert processing plant, 1,295 miles of gathering lines and related facilities. Rendezvous owns a 338-mile mainline gathering system serving the Jonah and Pinedale Anticline fields in south-western Wyoming, which delivers gas to the Granger complex and other locations. In July 8, 2011, the Company acquired the Bison gas treating facility from Anadarko. In February 28, 2011, it acquired a natural gas gathering system and cryogenic gas processing facilities, collectively referred to as the Platte Valley assets, financed with borrowings under its revolving credit facility. On February 28,! 2011, Kerr-McGee Gathering LLC, a wholly owned subsidiary of Western Gas Partners, LP (the Partnership), acquired midstream assets from Encana Oil & Gas (USA) Inc. These assets are located in the Denver-Julesburg Basin, northeast of Denver, Colorado, and consist of an approximately 1,054-mile natural gas gathering system and related compression and other ancillary equipment, and gas processing facilities with current cryogenic capacity of 84 one million cubic feet per day.
Rocky Mountains
The Bison treating facility consists of three amine treaters with a combined treating capacity of 450 million cubic feet per day located in the north-eastern corner of Wyoming. The assets also include three compressors with a combined compression of 5,230 horsepower and five generators with combined power output of 6.5 megawatts. The Company operates and has a 100% working interest in the Bison assets, which provide carbon dioxide (CO2) treating services for the coal-bed methane gas gathered in the Powder River Basin. During the year ended December 31, 2011, Anadarko provided approximately 73% of the throughput at the Bison treating facility, and the remaining throughput was from one third-party producer. The Bison treating facility treats and compresses gas from the coal-bed methane wells in the Powder River Basin. The Bison Pipeline, operated by TransCanada, is connected directly to the facility, which is the only inlet into the pipeline. The Bison treating facility also has access to the Ft. Union and Thunder Creek pipelines.
The Company is the managing member of Chipeta, a limited liability company owned by the Partnership (51%), Ute Energy Midstream Holdings LLC (25%) and Anadarko (24%). The Chipeta complex includes a natural gas processing plant with two processing trains, the Natural Buttes plant, and a 100% Partnership-owned 17-mile natural gas liquid (NGL) pipeline connecting the Chipeta plant to a third-party pipeline. The Chipeta assets has cryogenic and refrigeration ! processin! g capacity of 670 million cubic feet per day. These assets provide processing and transportation services in the Greater Natural Buttes area in Uintah County, Utah. During 2011, Chipeta began construction of a second cryogenic train at the Chipeta plant with processing capacity of approximately 300 million cubic feet per day. During 2011, Anadarko is a customer on the Chipeta system with approximately 94% of the system throughput. The Chipeta system has access to Anadarko and third-party production in the area with excess available capacity in the Uintah Basin. Anadarko controls approximately 217,000 gross acres in the Uintah Basin. Chipeta is connected to both Anadarko�� Natural Buttes gathering system and to the Three Rivers gathering system owned by Ute Energy and a third party. The Chipeta plant delivers NGLs through its 17-mile pipeline to the Mid-America Pipeline (MAPL), which provides transportation through the Seminole pipeline in West Texas and ultimately to the NGL markets at Mont Belvieu, Texas and the Texas Gulf Coast. The Chipeta plant has natural gas delivery points through the pipelines, which includes Colorado Interstate Gas Company (CIG), Questar Pipeline Company�� pipeline, and Wyoming Interstate Company, Ltd.
The 47-mile Clawson gathering system, located in Carbon and Emery Counties of Utah, to provide gathering services for Anadarko�� coal-bed methane development of the Ferron Coal play. The Clawson gathering system provides gathering, dehydration, compression and treating services for coal-bed methane gas. The Clawson gathering system includes one compressor station, with 6,310 horsepower, and a CO2 treating facility. During 2011, Anadarko is the shipper on the Clawson gathering system with approximately 97% of the total throughput delivered into the system, and the remaining throughput on the system was from one third-party producer. Clawson Springs Field has approximately 7,000 gross acres and produces primarily from the Ferron Coal play. The Clawson gathering s! ystem del! ivers into Questar Transportation Services Company�� pipeline. The Fort Union system is a 324-mile gathering system operating within the Powder River Basin of Wyoming, starting in west central Campbell County and terminating at the Medicine Bow treating plant. The Fort Union gathering system consists of three parallel pipelines and includes CO2 treating facilities at the Medicine Bow plant. At CO2 levels, the system is capable of treating and blending over one billion cubic feet per day while satisfying the CO2 specifications of downstream pipelines. Fort Union Gas Gathering, LLC is a partnership among Copano Pipelines/Rocky Mountains, LLC (37.04%), Crestone Powder River LLC (37.04%), Bargath, Inc. (11.11%) and the Partnership (14.81%). Anadarko is the field and construction operator of the Fort Union gathering system. The NGLs have market access to Enterprise�� Mid-America Pipeline Company (MAPCO), which terminates at Mont Belvieu, Texas, as well as to local markets.
The 810-mile natural gas gathering system and gas processing facility is located in Sweetwater County, Wyoming. The Granger system includes eight field compression stations with 41,950 horsepower. The processing facility has a cryogenic capacity of 200 million cubic feet per day and refrigeration capacity of 100 million cubic feet per day with NGL fractionation. During 2011, Anadarko is the customer on the Granger system with approximately 54% of throughput, and the remaining throughput was primarily from five third-party shippers. The Granger system is supplied by the Moxa Arch, the Jonah field and the Pinedale anticline across, which Anadarko controls approximately 568,000 gross acres. The Granger gas gathering system has approximately 690 receipt points. The residue gas from the Granger system can be delivered to the pipelines, which includes CIG, Kern River and Mountain Gas Transportation, Inc (MGTI) pipelines through a connect with Rendezvous Pipeline Company, Northwest Pipeline Co (NWPL), Overthrust Pipeline OTTCO, a! nd Questa! r Gas Management Company (QGM).
The 67-mile Helper gathering system, located in Carbon County, Utah, built to provide gathering services for Anadarko�� coal-bed methane development of the Ferron Coal play. The Helper gathering system provides gathering, dehydration, compression and treating services for coal-bed methane gas. The Helper gathering system includes two compressor stations with a combined 14,075 horsepower and two CO2 treating facilities. Anadarko is the shipper on the Helper gathering system. The Helper Field and Cardinal Draw Fields are Anadarko-operated coal-bed methane developments on the south-western edge of the Uintah Basin that produce from the Ferron Coal play. The Helper Field covers approximately 19,000 acres as of December 31, 2011 and Cardinal Draw Field, which lies immediately to the east of Helper Field, also covers approximately 20,000 acres. The Helper gathering system delivers into the Questar Transportation Services Company�� pipeline. Questar provides transportation to regional markets in Wyoming, Colorado and Utah and also delivers into the Kern River Pipeline, which provides transportation to markets in the western United States, primarily California.
The 1,056-mile Hilight gathering system, located in Johnson, Campbell, Natrona and Converse Counties of Wyoming, built to provide low and high-pressure gathering services for the area�� conventional gas production and delivers to the Hilight plant for processing. The Hilight gathering system has 11 compressor stations with 32,263 combined horsepower. The Hilight system has a capacity of approximately 30 million cubic feet per day and utilizes a refrigeration process and provides for fractionation of the recovered NGL products into propane, butanes and natural gasoline. Gas gathered and processed through the Hilight system is from numerous third-party customers, with the nine producers providing approximately 75% of the system throughput during 2011. The Hilight gathering system serves the g! as gather! ing needs of several conventional producing fields in Johnson, Campbell, Natrona and Converse Counties. The Hilight plant delivers residue gas into its MIGC transmission line.
The MIGC system is a 256-mile interstate pipeline regulated by FERC and operating within the Powder River Basin of Wyoming. The MIGC system traverses the Powder River Basin from north to south, extending to Glenrock, Wyoming. The MIGC system is well positioned to provide transportation for the natural gas volumes received from various coal-bed methane gathering systems and conventional gas processing plants throughout the Powder River Basin. MIGC offers both forward-haul and backhaul transportation services and is certificated for 175 million cubic feet per day of firm transportation capacity. During 2011, Anadarko is the firm shipper on the MIGC system, with approximately 86% of throughput, with the remaining throughput from 11 third-party shippers. As of December 31, 2011, Anadarko has a working interest in over 1.7 million gross acres within the Powder River Basin. Anadarko�� gross acreage includes substantial undeveloped acreage positions in the expanding Big George coal play and the multiple seam coal fairway to the north of the Big George play. MIGC volumes are redelivered to the Glenrock, Wyoming Hub, which accesses the interstate pipelines, which includes CIG, Kinder Morgan Interstate Gas Transportation Company, Williston Basin Interstate Pipeline Company, and Wyoming Interstate Gas Company. Volumes are also delivered to Anadarko�� MGTC, Inc. (MGTC) intrastate pipeline, a Hinshaw pipeline that supplies local markets in Wyoming.
The 179-mile Newcastle gathering system, located in Weston and Niobrara Counties of Wyoming, was built to provide gathering services for conventional gas production in the area. The gathering system delivers into the Newcastle plant, which has gross capacity of approximately two million cubic feet per day. The plant utilizes a refrigeration process and provides for frac! tionation! of the recovered NGLs into propane and butane/gasoline mix products. The Newcastle facility is a joint venture among Black Hills Exploration and Production, Inc. (44.7%), John Paulson (5.3%) and the Partnership (50.0%). The Newcastle gathering system includes one compressor station with 560 horsepower. The Newcastle plant has an additional 2,100 horsepower for refrigeration and residue compression. Gas gathered and processed through the Newcastle system is from 12 third-party customers, with the four producers providing approximately 92% of the system throughput during 2011. The producer, Black Hills Exploration, provided approximately 62% of the throughput during 2011. The Newcastle gathering system and plant primarily service gas production from the Clareton and Finn-Shurley fields in Weston County. Propane products from the Newcastle plant are typically sold locally by truck, and the butane/gasoline mix products are transported to the Hilight plant for further fractionation. Residue gas from the Newcastle system is delivered into Anadarko�� MGTC pipeline for transport, distribution and sale.
The Platte Valley system, located in the Denver-Julesburg Basin, consists of a processing plant with current cryogenic capacity of 100 million cubic feet per day, two fractionation trains, a 1,099-mile natural gas gathering system and related equipment. The Platte Valley gathering system has 13 compressor stations with a combined 17,011 of operating horsepower. During 2011, approximately 8% of the Platte Valley system throughput was from Anadarko and the remaining throughput was from various third-party customers, the EnCana Corporation. There are 713 receipt points connected to the Platte Valley gathering system as of December 31, 2011. The system is connected to its Wattenberg gathering system. The Platte Valley system is primarily supplied by the Wattenberg field and covers portions of Adams, Arapahoe, Boulder, Broomfield, Denver, Elbert, and Weld Counties, Colorado. The Platte Valley system de! livers NG! Ls through the pipelines, which includes local markets, ONEOK Overland Pass Pipeline, and the Wattenberg Pipeline owned and operated by DCP Midstream (formerly the Buckeye Pipeline). In addition, the Platte Valley system can deliver to the CIG and Xcel Energy residue gas pipelines.
The Wattenberg gathering system is a 1,781-mile wet gas gathering system in the Denver-Julesburg Basin, north and east of Denver, Colorado, and includes six compressor stations and combined 72,579 of operating horsepower. The Fort Lupton processing plant has two trains with combined processing capacity of 105 million cubic feet per day. During 2011, Anadarko-operated production represented approximately 66% of system throughput. Approximately 29% of Wattenberg system throughput was from two third-party producers and the remaining throughput was from various third-party customers. There are 2,129 receipt points and over 5,900 wells connected to the gathering system as of December 31, 2011. The Wattenberg gathering system is primarily supplied by the Wattenberg field and covers portions of Adams, Arapahoe, Boulder, Broomfield and Weld counties. Anadarko controls approximately 762,000 gross acres in the Wattenberg field. Anadarko drilled 472 wells and completed 2,090 fracs at the Wattenberg field during 2011, and had identified 1,200 to 2,700 opportunities to increase production, including new well locations, re-fracs and recompletions. The Wattenberg gathering system has five delivery points, with the primary delivery points, which includes Anadarko�� Wattenberg processing plant, Fort Lupton processing plant, and Platte Valley processing plant.
The White Cliffs pipeline consists of a 526-mile crude oil pipeline that originates in Platteville, Colorado and terminates in Cushing, Oklahoma. It has an approximate capacity of 80,000 barrels per day. At the point of origin, it has a 100,000-barrel storage facility and a truck-loading facility with an additional 220,000 barrels of storage. The pipeline is a! joint ve! nture owned by SemCrude Pipeline LP (51%), Plains Pipeline LP (34%), Noble Energy, Inc. (5%) and the Partnership (10%). The White Cliffs pipeline has two throughput contracts with Anadarko and Noble Energy. During 2011, Anadarko was the shipper on the White Cliffs pipeline. The White Cliffs pipeline is supplied by production from the Denver-Julesburg Basin and is the only direct route from the Denver-Julesburg Basin to Cushing, Oklahoma. The White Cliffs pipeline delivery point is SemCrude�� storage facility in Cushing, Oklahoma, a major crude oil marketing center, which ultimately delivers to the mid-continent refineries.
Mid-Continent
The 1,953-mile Hugoton gathering system provides gathering service to the Hugoton field and is primarily located in Seward, Stevens, Grant and Morton Counties of Southwest Kansas and Texas County in Oklahoma. The Hugoton gathering system has 44 compressor stations with a combined 92,097 horsepower of compression. Anadarko is the customer on the Hugoton gathering system with approximately 76% of the system throughput, during 2011. During 2011, approximately 19% of the throughput on the Hugoton system was from one third-party shipper with the balance from various other third-party shippers. The Hugoton field is a natural gas fields in North America. The Hugoton gathering system is connected to DCP Midstream�� National Helium plant, which extracts NGLs and helium and delivers residue gas into the Panhandle Eastern pipeline. The system is also connected to the Satanta plant, which is owned by Pioneer Natural Resources Corporation (51%) and Anadarko (49%), for NGLs and helium processing and delivers residue gas into Kansas Gas Services and Southern Star pipeline.
East Texas
The 323-mile Dew gathering system is located in Anderson, Freestone, Leon and Robertson Counties of East Texas. The Dew gathering system has 10 compressor stations with a combined 36,175 horsepower of compression. Anadarko is the only shipper on the ! Dew gathe! ring system. As of December 31, 2011, Anadarko has approximately 833 producing wells in the Bossier play and controls approximately 122,000 gross acres in the area. The Dew gathering system has delivery points with Pinnacle Gas Treating LLC, which is the primary delivery point and is described in more detail below, and Kinder Morgan�� Tejas pipeline.
The Pinnacle gathering system includes the Partnership�� 266-mile Pinnacle gathering system and its Bethel treating plant. The Pinnacle system provides sour gas gathering and treating service in Anderson, Freestone, Leon, Limestone and Robertson Counties of East Texas. The Bethel treating plant, located in Anderson County, has total CO2 treating capacity of 502 million cubic feet per day and 20 long tons per day of sulfur treating capacity. During 2011, Anadarko was shipper on the Pinnacle gathering system with approximately 90% of system throughput and the remaining throughput on the system was from four third-party shippers. The Pinnacle gathering system provide gathering and treating services to the five-county area over, which it extends, including the Cotton Valley Lime formations, which contain concentrations of sulfur and CO2. The Pinnacle gathering system is connected to Atmos Texas pipeline, Enbridge Pipelines (East Texas) LP pipeline, Energy Transfer Fuels pipeline, Enterprise Texas Pipeline, LP�� pipeline, ETC Texas Pipeline, Ltd pipeline, and Kinder Morgan�� Tejas pipeline. These pipelines provide transportation to the Carthage, Waha and Houston Ship Channel market hubs in Texas.
West Texas
The 118-mile Haley gathering system provides gathering and dehydration services in Loving County, Texas and gathers a portion of Anadarko�� production from the Delaware Basin. During 2011, Anadarko�� production represented approximately 69% of the Haley gathering system�� throughput, and the remaining throughput is attributable to Anadarko�� partner in the Haley area. As of December 31, 2011, in the great! er Delawa! re basin, Anadarko has access to approximately 355,000 gross acres, is a portion of which is gathered by the Haley gathering system. The Haley gathering system has multiple delivery points. The primary delivery points are to the El Paso Natural Gas pipeline or the Enterprise GC, LP pipeline for delivery into Energy Transfer�� Oasis pipeline. It also delivers into Southern Union Energy Services��pipeline for further delivery into the Oasis pipeline. The pipelines at these delivery points provide transportation to both the Waha and Houston Ship Channel markets.
The Company competes with QEP Field Services Company, El Paso Midstream Group, Inc., XTO Energy, ETC Texas Pipeline, Ltd, Enbridge Pipelines (East Texas) LP, Kinder Morgan Tejas Pipeline, LP, MIGC, Thunder Creek Gas Services, Williston Basin Interstate Pipeline Company, TransCanada, Williams Field Services, Enterprise Gas Processing, LLC, Jonah Gas Gathering Company, QEP Field Services Company, Anadarko�� Delaware Basin JV Gathering LLC, Enterprise GC, LP, Targa Midstream Services LLC, Southern Union Energy Services Company, DCP Midstream, Merit Energy, ONEOK Gas Gathering Company, Pioneer Natural Resources and AKA Energy.
Advisors' Opinion:- [By Anna Prior]
Anadarko Petroleum Corp.(APC) said it has taken steps to improve its financial flexibility, including paring its stake in the company that manages natural-gas and crude-oil unit Western Gas Partners LP(WES). Anadarko said it made $335 million in cash on the offering. Anadarko shares rose 2.9% to $109.00 premarket.
- [By David Fickling]
Wesfarmers Ltd. (WES), Australia�� largest private-sector employer, fell the most in more than two years in Sydney trading after it said earnings from its Target department stores would drop as much as 43 percent from a year earlier.
10 Best Integrated Utility Stocks To Own Right Now: Intex Resources ASA (ITX)
Intex Resources ASA is a Norway-based mining and exploration company that focuses primarily on mineral and metal deposits. As of 31 December 2011, the Company�� project portfolio consisted of Mindoro Nickel in the Philippines, the Nordli molybdenum project in Norway, the Maniitsoqdiamond project in West Greenland, as well as several grassroots exploration projects. The Company focuses primarily on the Mindoro Nickel nickel-laterite deposit. As of December 31, 2011, the Company had a total of four wholly owned subsidiaries, namely Molynor AS, IceFire Diamonds AS, Intex Resources AS and Norex Resources AS. As of December 31, 2011, its largest shareholder was Lybica Holding B.V., which held 21.71% shares. Advisors' Opinion:- [By Sarah Jones]
Inditex SA (ITX) added 3.5 percent to 101.30 euros after reporting a 5.2 percent increase in first-quarter sales to 3.59 billion euros. The world�� biggest clothing retailer also forecast stable profitability even after first-quarter profit advanced at the slowest pace in four years.
10 Best Integrated Utility Stocks To Own Right Now: DealerTrack Holdings Inc.(TRAK)
DealerTrack Holdings, Inc. provides software solutions to the automotive retail industry in the United States and Canada. The company offers DealerTrack DMS, an open platform to integrate and manage functions of store operations. It also provides sales and finance solutions, including DealerTrack Credit Application Network to transmit a consumer?s credit application information to lenders; BookOut to look up used automobile values; DealerTrack Compliance to sign, store, and protect customer and financing activity; DealerTrack eContracting to obtain electronic signatures, and transmit contracts and contract information electronically to lenders; DealTransfer to transfer transaction information; CreditOnline to submit credit application data online; SalesMaker, a desking system; DealerTrack eMenu to present insurance and other aftermarket product options in a menu format; and DealerTrack Aftermarket Network that offers real-time aftermarket contract rating and quote generat ion. In addition, the company provides inventory solutions, such as DealerTrack eCarList, an inventory management and distribution platform; and DealerTrack AAX, an inventory optimization and analytics system. Further, it offers processing solutions, such as DealerTrack OLRS that provides do-it-yourself version of department of motor vehicle processing; DealerTrack RegUSA for cross-border vehicle transactions; DealerTrack Electronic Lien & Title (ELT) to manage ELT; DealerTrack?s Title and Collateral Administration, a title management solution; and DealerTrack eDocs to digitize contracts and submit them electronically. Additionally, it provides data services; and on-demand credit application and contract processing services to indirect automotive finance industry in Canada. The company serves dealers, lenders, original equipment manufacturers, third party retailers, agents, and aftermarket providers. DealerTrack Holdings, Inc. was founded in 2001 and is headquartered in Lak e Success, New York.
Advisors' Opinion:- [By Patricio Kehoe]
The firm is currently Zacks Rank # 3 - Hold, and it also has a longer-term recommendation of ��utperfom�� For investors looking for a Zacks Rank # 1 ��Strong Buy, Dealertrack Technologies Inc (TRAK), Open Text Corporation (OTEX), Pegasystems Inc. (PEGA) Solera Holdings (SLH) or Ultimate Software Group Inc. (ULTI) could be the options.
10 Best Integrated Utility Stocks To Own Right Now: Nabors Industries Ltd (NBR)
Nabors Industries Ltd. (Nabors), incorporated on December 11, 2001, is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada. The Company markets approximately 474 land drilling rigs for oils and gas land drilling operations in the United States Lower 48 states, Alaska, Canada and over 20 other countries globally. The Company actively markets approximately 442 rigs for land well-servicing and workover work in the United States and approximately 106 rigs for land well-servicing and workover work in Canada. In 2012, the Company sold its remaining wholly-owned oil and gas business in Colombia and sold additional wholly owned assets in the United States. In April 2012, TransForce Inc. acquired through its subsidiary, I.E. Miller Services, Inc, certain assets of Peak USA Energy Services, Ltd., subsidiary of Nabors Industries Ltd. In December 2012, the Company sold its 49.7% ownership interest in NFR Energy LLC (NFR Energy).
The Company is a provider of offshore platform workover and drilling rigs, and actively markets 36 platform, 12 jackup and four barge rigs in the United States, including the Gulf of Mexico, and multiple international markets.The Company provides completion and production services, including hydraulic fracturing, cementing, nitrogen and acid pressures pumping services with over 805,000 hydraulic horsepower in United States and Canada. The Company offers a range of ancillary well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rigs instrumentation, data collection and other support services in select United States and international markets. The Company manufactures and lease or sell drives for a ranges of drilling applications, directional drilling systems, rig instrumentation and data collection equipment, pipeline handling equipment and rig reporting software. The Company has a 51% ownership interest in a joint venture in Saudi Arabia, w! hich owns and actively markets nine rigs in addition to the rigs the Company leases to the joint venture.
A land-based drilling rig generally consists of engines, a drawworks, a mast (or derrick), pumps to circulate drilling fluid under various pressures, blowout preventers, drill string and related equipment. Special-purpose drilling rigs used to perform workover services consist of a mobile carrier, which includes an engine, drawworks and a mast, together with other standard drilling accessories and specialized equipment for servicing wells. These rigs are specially designed for repairs and modifications of oil and gas wells, including standard drilling functions. Land-based drilling rigs are moved between well sites and among geographic areas using the Company's fleet of cranes, loaders and transport vehicles or those of third-party service providers.
Platform rigs provide offshore workover, drilling and re-entry services. The Company's platform rigs have drilling and/or well-servicing or workover equipment and machinery arranged in modular packages that are transported to, and assembled and installed on, fixed offshore platforms owned by the customer. Jackup rigs are mobile, self-elevating drilling and workover platforms equipped with legs that can be lowered to the ocean floor until a foundation is established to support the hull, which contains the drilling and/or workover equipment, jacking system, crew quarters, loading and unloading facilities, storage areas for bulk and liquid materials, helicopter landing deck and other related equipment. The Company also own two workover inland barge rigs. These barges are designed to perform plugging and abandonment, well-service or workover services in shallow inland, coastal or offshore waters.
The Company provides a range of wellsite solutions to oil and natural gases companies, consisting primarily of technical pumping services, including hydraulic fracturing, a process sometimes used in the completion of oil and g! as wells ! whereby water, sand and chemicals are injected under pressure into subsurface formations to stimulate gas and oil production, and down-hole surveying services. Other technical services include completion, production and rental tool services. In addition, the Company provides fluid logistics services, including those related to the transportation, storage and disposal of fluids that is used in the drilling, development and production of hydrocarbons.
The Company provides maintenance services on the mechanical apparatus used to pump or lift oils from producing wells. These services include, among other activities, repairing and replacing pumps, sucker rods and tubing. They also occasionally include drilling services. The Company provides the rigs, equipment and crews for these tasks, which are performed on both oil and natural gas wells, but which are more commonly required on oil wells. Producing oil and natural gas wells occasionally require repairs or modifications, called workovers. The Company can also provide other specialized services, including onsite temporary fluid storage; the supply, removal and disposal of specialized fluids used during certain completion and workover operations, and the removal and disposal of salt water that often accompanies the production of oil and natural gas.
Through various subsidiaries, the Company manufactures top drives and catwalks, which is installed on both onshore and offshore drilling rigs. The Company provides heavy equipment to move drilling rigs, water, other fluids and construction materials as well as the means to moves such equipment. The Company offers specialized drilling technologies, including patented steering systems and rigs instrumentation software systems, including ROCKITTM directional drilling system, which is used to provide data collection services to oil and gas exploration and service companies, and RIGWATCHTM software, which is computerized software and equipment that monitors a rig's real-time performance and da! ily repor! ting for drilling operations, making this data available through the Internet.
The Company competes with Helmerich and Payne, Inc., Patterson-UTI Energy, Inc., Basic Energy Services, Inc., Key Energy Services, Inc., Superior Energy Services, Inc., Forbes Energy Services Ltd., Halliburton, Baker Hughes, Weatherford International Ltd., Schlumberger Limited, FTS International Services LLC, C&J Energy Services, Inc. and RPC, Inc.
Advisors' Opinion:- [By Dan Caplinger]
One challenge for Halliburton, though, is that exploration and production companies are getting savvier about their expenses, getting more efficient with drilling practices. Competitor Nabors Industries (NYSE: NBR ) cut its second-quarter guidance recently, citing such efficiency gains as having reduced demand for North American pressure-pumping equipment and services. If those trends carry throughout the sector, it could weigh on Halliburton's results.
10 Best Integrated Utility Stocks To Own Right Now: FactSet Research Systems Inc. (FDS)
FactSet Research Systems Inc. provides financial and economic information to investment community worldwide. FactSet offers fundamental financial data on various companies, analytical applications, and client services to the portfolio managers, research and performance analysts, risk managers, marketing professionals, sell-side equity research professionals, investment bankers, and fixed income professionals. The company?s applications provide users access to company analysis, multicompany comparisons, industry analysis, company screening, portfolio analysis, predictive risk measurements, alphatesting, portfolio optimization and simulation, news and quotes, and tools to value and analyze fixed income securities and portfolios. FactSet combines commercial databases, including content regarding companies and securities from various markets into a single online platform of information and analytics. The company?s solutions for investment management professionals include analy zing market, sector, and fundamental series; offering applications for portfolio attribution, risk management, and quantitative analysis; building quant models and calculating risk; analyzing the nuances of the debt-driven market; viewing event transcripts and corporate event calendars; researching and analyzing companies, benchmarks, debt instruments, and economic series; integrating the client?s own data, such as portfolio holdings and research notes; and creating reports and presentations. FactSet?s solutions for investment banking professionals comprise creating models and presentations; tracking market performance and headlines; providing deal analytic and corporate governance servies; researching on public and private companies; auditing financials underlying SEC filings and annual reports; and providing access to reports via wireless handheld device. The company was founded in 1978 and is headquartered in Norwalk, Connecticut.
Advisors' Opinion:- [By Shauna O'Brien]
Shares of financial research company FactSet Research Systems Inc. (FDS) were down on Tuesday morning after the company reported quarterly earnings below analysts’ views.�
FDS Earnings in Brief
FDS reported Q2 earnings of�$52.43 million, or $1.22 per share, up from $44.54 million, or $1.00 per share, a year ago. Excluding special items, earnings were�$52.43 million, or $1.22 per share, �up from $49.28 million, or $1.11, per share last year, but below analysts’ estimate of $1.21 per share. Revenue for the quarter rose to $226.93 million from $213.08 million last year. Analysts expected revenue of�$226.36 million. Looking forward, FDS expects Q2 earnings to be between�$1.24 and$1.26 per share, while analysts expect to see $1.26 per share. The company expects revenue to be between�$229 million and $233 million, while analysts are estimating�$228.70 million.CEO Commentary
Chairman and CEO Philip Hadley commented:�”Our second quarter results reflect an improving buy-side client base, and include acquiring the remaining 40% interest in Matrix. I’m pleased to see that our net client growth in the past three months was the highest quarterly total since 2006 and buy-side users grew at a level we’ve not seen since 2004.”
FDS Dividend
FDS paid its last quarterly dividend of 35 cents on March 18. We expect the company to declare its next dividend sometime in May. It is likely that shareholders will see an increased dividend next quarter.
Stock Performance�
FactSet shares were down $2.54, or 2.43%, during pre-market trading Tuesday. The stock is down 4% YTD.
- [By GuruFocus]
Added: FactSet Research Systems, Inc. (FDS)
Tom Gayner added to his holdings in FactSet Research Systems, Inc. by 20.69%. His purchase prices were between $89.41 and $103.76, with an estimated average price of $95.97. The impact to his portfolio due to this purchase was 0.02%. His holdings were 35,000 shares as of 06/30/2013.
- [By Gregory Wallace]
The upward momentum could continue. John Butters, senior earnings analyst with FactSet (FDS), wrote in a report that while analysts have dialed back earlier expectations, they "still expect a significant improvement in earnings growth in the fourth quarter of 2013 relative to recent quarters."
- [By Holly LaFon] et researches global market trends and develops analytical tools for investors. Of all of GuruFocus��5-star predictable companies, it has the highest return on assets at 27%. ROA has been increasing over the past several years. The average return on assets for the software industry for the trailing 12 months is 13.07%.
In 2011, the company�� total assets increased to $657 million from $645 the prior year. Its net income increased to $171 million from $150.
The All-in-One Screener is a fully customizable stock-searching tool just introduced by GuruFocus. Search for stocks according to your own set of requirements here.
10 Best Integrated Utility Stocks To Own Right Now: National Oxygen Ltd (NOL)
National Oxygen Limited (NOL) is an India-based company, which is a producer and supplier of industrial gases both in liquid and gaseous forms to industries and hospitals. Its products include oxygen, nitrogen and acetylene. The Company operates in two segments: Industrial Gases, which is engaged in the manufacture of industrial gases, and Windmill, which is engaged in the generation of windmill energy. During the fiscal year ended March 31, 2012 (fiscal 2012), the Company produced 51,07,981 cubic meters of oxygen, 52,138 cubic meters of dissolved acetylene, 30,69,610 cubic meters of nitrogen and 26,86,762 kilowatt hours of windmill energy. It has two industrial gas plants in Tamil Nadu and Pondicherry, and one windmill in Maharashtra. During fiscal 2012, NOL had an installed capacity to produce 2,50,00,000 cubic meters of oxygen, 2,00,000 cubic meters of dissolved acetylene and 44,00,000 kilowatt hours of windmill energy. Advisors' Opinion:- [By John Emerson]
Another huge benefit which was imbedded in the value of RTEC was the tens of millions of net operating losses (NOL) that the company had accrued as a result of the massive accrual losses it would sustain during the credit crisis. These benefits were not reflected on the balance sheet but they would translate into tens of millions of dollars in income tax savings when the company eventually returned to profitability.
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