Natural gas pipeline operator Regency Energy Partners said it would purchase pipeline and related assets from Eagle Rock Energy Partners and Hoover Energy Partners for about $1.6 billion.Eagle Rock shares jumped 13.9 percent at the open on the Nasdaq while Regency jumped 3 percent.Owned by billionaire Kelcy Warren's Energy Transfer Equity LP, Regency is expanding its pipe networks in liquids-rich basins of Texas Panhandle, East and South Texas, and Delaware basin in West Texas.A massive growth in output from shale fields has lead to a shortage of pipelines that can move crude oil to refining hubs.
Energy Transfer Equity, L.P. (Energy Transfer Equity) is a limited partnership company. Shares of ETE traded higher by 3.88% or $3.16/share to $84.55. In the past year, the shares have traded as low as $44.11 and as high as $81.67. On average, 814178 shares of ETE exchange hands on a given day and today's volume is recorded at 230015.
Rock Energy Inc. (Rock) is an energy company engaged in the exploration for and development and production of crude oil and natural gas in Western Canada. Shares of RE fell by 0.93% or $-0.03/share to $3.21. In the past year, the shares have traded as low as $1.06 and as high as $3.73. On average, 300094 shares of RE.TO exchange hands on a given day and today's volume is recorded at 1000.
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