Key adjustments from last week:
- On May 6, CMLP announced plans to merge with NRGY and NRGM to create a fully integrated midstream partnership with a total enterprise value of approximately $7 billion (Press Release).
- On May 7, PSE announced that it received a proposal from Pioneer Natural Resources Company (PXD) whereby PXD would acquire all of the outstanding, publicly-held Pioneer Southwest common units PXD does not already own through a stock-for-unit exchange.
- PXD is proposing consideration of 0.2234 of a share of PXD common stock for each outstanding publicly-held PSE common unit
- Pioneer stated that it has assumed that a regular quarterly common unit distribution of $0.52 per common unit will be declared in July and that, thereafter, common unit distributions will be suspended while the transaction is pending (Press Release)
- Adjusted BIP for a 5.6771 million unit equity offering at $37.75 on May 7.
- Adjusted APL and ATLS for the closing of the TEAK Midstream, LLC acquisition on May 7 (Press Release).
- Added Emerge Energy Services LP (“EMES”) to the Other MLP segment after its IPO at $17 on May 8.
- First quarter 2013 distribution announcements Quarter-over-Quarter: 57 increases, 37 flat and 2 decreases (RNF and NTI both are variable rate MLPs, NTI is based on the mid-point of the $1.15 to $1.25 distribution guidance they provided on April 26 so not officially final yet).
- Ongoing 1Q13 updates as financials are filed (89 updated so far with a few stragglers remaining).
The MLP Protocol Monthly Analytics Report for May is now available, the June 2013 report will be available after May 30th.
MLP Protocol Weekly Snapshot report: (click to open) MLPP 051013 Snapshot vFree
MLP Protocol 