21 Sept 2004securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2004business combination● Neutral
The partnership and Pacific Energy Finance Corporation filed a registration statement offering to swap $250 million of outstanding 7 1/8% Senior Notes due 2014 for identical notes registered with the SEC, guaranteed by six subsidiaries. This is a routine exchange of existing debt for freely tradable notes with the same terms, not new money, and it does not affect unitholders' ownership.
15 July 2004asset acquisition disposition● NeutralMajor
On 30 June 2004 the partnership completed the purchase of the Mid Alberta Pipeline (MAPL) from Imperial Oil for Cdn$31.5 million (Cdn$5.0 million payable in three years), plus Cdn$5.0 million of linefill; total cost was about U.S. $30.2 million, funded mainly from the Canadian credit facility. This follows through on the letter of intent mentioned in the Rangeland filing; MAPL connects Edmonton to Rangeland at Sundre, and the partnership plans a new Edmonton terminal over the next year.
26 May 2004asset acquisition disposition● NeutralMajor
On 11 May 2004 the partnership completed the purchase of the Rangeland Pipeline System in Alberta from BP Canada Energy Company for Cdn$130 million plus about Cdn$29 million of other costs (about U.S. $116 million in total). It was funded from the 30 March 2004 equity offering and a Cdn$45 million draw on a new Cdn$100 million, three-year Canadian credit facility secured by the Canadian assets. The filing says BP's marketing and senior staff were not made available, so the partnership must build its own Calgary team and accounting systems; it also mentions a non-binding letter of intent to buy the Mid Alberta Pipeline.
25 Mar 2004securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed a prospectus supplement for an offering off its existing shelf.
24 Mar 2004securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed the final prospectus for a registered offering.
28 Jan 2004other● Neutral
Fourth-quarter profit of $7.6 million (30 cents a unit) was up on the year, but only because the Pacific Terminals storage business bought in July 2003 was now contributing; the original West Coast pipelines carried less oil and earned less. Full-year profit still fell to $26.2 million from $33.6 million.
19 Sept 2003substantial holder notice● Neutral
Pacific Energy GP, Inc, PPS Holding Company, The Anschutz Corporation, Anschutz Company, Philip F. Anschutz reported a PACIFIC ENERGY PARTNERS LP shareholding of 137,901 shares (1.00% of votes) in a periodic institutional filing.
20 Aug 2003securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed a prospectus supplement for an offering off its existing shelf.
18 Aug 2003securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed a prospectus supplement for an offering off its existing shelf.
14 Aug 2003asset acquisition disposition▲ GoodMajor
On 31 July 2003 the partnership's subsidiary Pacific Terminals bought the black oil storage and pipeline system of Edison Pipeline and Terminal Company (a Southern California Edison division) in the Los Angeles Basin. The price was $158.2 million plus estimated adjustments of $9.0 million and about $3.0 million of costs; $149.0 million of the $159.3 million paid at closing was borrowed under the $200.0 million revolving credit facility and $10.3 million came from cash. The assets include 34 tanks with about 9.0 million barrels of capacity and 70 miles of pipeline; this is the acquisition behind the higher 2003 earnings noted in the context.
8 Aug 2003substantial holder notice● Neutral
Pacific Energy GP, Inc, PPS Holding Company, The Anschutz Corporation, Anschutz Company, Philip F. Anschutz reported a PACIFIC ENERGY PARTNERS LP shareholding of 1,865,001 shares (17.69% of votes) in a periodic institutional filing.
6 Aug 2003director interest notice● Neutral
PACIFIC ENERGY PARTNERS LP President & CEO Irvin Toole Jr. bought 900 shares on the open market at $0.00.
5 Aug 2003director interest notice● Neutral
PACIFIC ENERGY PARTNERS LP Sr. V.P., CFO & Treasurer Gerald A Tywoniuk bought 500 shares on the open market at $24.54.
1 Aug 2003securities registration● Neutral
PACIFIC ENERGY PARTNERS LP registered a securities offering with the SEC using its shelf eligibility.
24 July 2003director interest notice● Neutral
Douglas L Polson became a PACIFIC ENERGY PARTNERS LP Chrmn (of Issuer's Gen Ptnr) and company insider (initial ownership filing).
1 July 2003director interest notice● Neutral
Kevin R Lee became a PACIFIC ENERGY PARTNERS LP Vice President and company insider (initial ownership filing).
20 Aug 2002substantial holder notice● Neutral
PACIFIC ENERGY GP, INC., PPS HOLDING COMPANY, THE ANSCHUTZ CORPORATION, ANSCHUTZ COMPANY, PHILIP F. ANSCHUTZ disclosed a new substantial PACIFIC ENERGY PARTNERS LP shareholding (17.80% of votes).
23 July 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed the final prospectus for a registered offering.
19 July 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP amended a filing by which it registered a securities offering with the SEC.
11 July 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP filed a preliminary prospectus for a registered offering.
2 July 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP amended a filing by which it registered a securities offering with the SEC.
20 June 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP amended a filing by which it registered a securities offering with the SEC.
17 June 2002listing compliance notice▲ GoodMajor
the New York Stock Exchange certified PACIFIC ENERGY PARTNERS LP's securities for listing, clearing them to begin trading.
17 May 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP amended a filing by which it registered a securities offering with the SEC.
22 Mar 2002securities registration● Neutral
PACIFIC ENERGY PARTNERS LP registered a securities offering with the SEC.