On Monday, Shares of Kinder Morgan, Inc. (NYSE:KMI), gained 1.18% to $34.36.
Kinder Morgan declared it has begun to receive Powder River Basin volumes into its Double H pipeline system via a newly constructed connection near Douglas, Wyoming, for crude oil deliveries to Guernsey, Wyoming, increasing its system capacity to about 99,000 barrels per day (bpd). The Powder River Basin project is the result of the successful open season held earlier this year on the local Double H pipeline and the joint Hiland/Pony Express systems which resulted in additional commitments to the Double H pipeline from sources in North Dakota and Wyoming.
Kinder Morgan’s Double H pipeline is supplied by the Market Center Gathering system in the Bakken and terminates near Guernsey. The 485-mile pipeline transports crude oil from the Dore Terminal in North Dakota and the Albin Terminal in Montana to Guernsey. At Guernsey, Double H anticipates placing delivery connections to the Plains All American Pipeline, Guernsey Station and Sinclair Guernsey Terminal into service in the third quarter of 2015 to provide raised connectivity to local and regional markets. Shippers also have access via an interconnect with the Pony Express Pipeline for transportation to the Phillips 66 Refinery in Ponca City, Oklahoma, or the Deeprock Terminal in Cushing, Oklahoma. Double H was placed in service in February 2015.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; and natural gas liquids fractionation facilities and transportation systems.
Shares of Denbury Resources Inc. (NYSE:DNR), declined -0.77% to $3.85, during its last trading session, as oil fell about 1 percent on Monday, with U.S. crude settling within range of a new 6-1/2-year low, after No. 3 oil consumer Japan said its economy contracted in the second quarter and China’s slowdown continued to weigh on sentiment, according to Reuters.
U.S. light crude CLc1 settled down 63 cents, or 1.5 percent, at $41.87 a barrel. Monday’s intraday low of $41.64 came within striking distance of Friday’s low of $41.35, the weakest front-month price since March 2009. Trading in expiring options for U.S. crude dominated the action. Reuters Reports
Brent LCOc1, the global crude benchmark, settled down 45 cents, or nearly 1 percent, at $48.74 a barrel. It earlier hit a session low of $48.35, about $3 above its six-year low of $45.19 set in January. Reuters added.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide.
Finally, Wabash National Corp. (NYSE:WNC), ended its last trade with 1.26% gain, and closed at $13.69.
Wabash National Corporation will host an investor day for institutional investors and analysts on August 18, 2015, at the company’s headquarters in Lafayette, Indiana. Shareholders and interested participants are invited to tune in to a live audio webcast of the administration presentations and Q&A session planned to start at 9:45 a.m. EDT and end at about 12:15 p.m. EDT.
Wabash National Corporation designs, manufactures, and markets truck and tank trailers, intermodal equipment, and transportation related products in North America.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
