Regency Energy Partners LP, owned by billionaire Kelcy Warren's Energy Transfer Equity LP, said it would purchase pipeline and related assets for about $1.6 billion to take advantage of soaring crude production in Texas.The pipeline operator plans to buy assets in the Texas Panhandle from Eagle Rock Energy Partners for $1.3 billion and assets in the Delaware basin from Hoover Energy Partners for $290 million.Eagle Rock's shares jumped as much as 17 percent to $6.17 on the Nasdaq on Monday. Regency shares rose 12 percent to $27.21 on the New York Stock Exchange."(The deal) is a great Christmas present for EROC unitholders," Robert Baird & Co analyst Ethan Bellamy said.
Energy Transfer Equity, L.P. (Energy Transfer Equity) is a limited partnership company. Shares of ETE traded higher by 1.38% or $1.12/share to $82.51. 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 857912.
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 traded higher by 1.23% or $0.04/share to $3.28. 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 33910.
Regency Energy Partners LP (the Partnership) is engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs). Shares of RGP traded higher by 7.77% or $1.88/share to $26.07. In the past year, the shares have traded as low as $20.58 and as high as $29.52. On average, 650617 shares of RGP exchange hands on a given day and today's volume is recorded at 1814435.
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