Energy Transfer wraps up $5.1bn merger with SemGroup

first_imgThrough the deal, Energy Transfer gets access to SemGroup’s HFOTCO crude oil terminal in Texas, which will be connected to its Nederland Terminal through a new pipeline Energy Transfer completes merger with rival midstream firm SemGroup. Photo: courtesy of PublicDomainPictures from Pixabay. Texas-based Energy Transfer has wrapped up its previously announced $5.1bn acquisition of rival US midstream company SemGroup.As per the terms of the stock-cum-cash deal signed in September 2019, Energy Transfer issued nearly 57.6 million of its common units to SemGroup’s stockholders.The transaction valued each share of SemGroup at $17 with the consideration paid in the form of $6.80 in cash and 0.7275 of Energy Transfer’s shares. SemGroup’s original shareholders will own around 2.2% of the enlarged Energy Transfer’s outstanding common units.With the merger completion, the Oklahoma-based SemGroup has ceased to be a publicly traded company and its shares have been delisted from The New York Stock Exchange.Acquisition of SemGroup adds the HFOTCO terminal to Energy Transfer’s portfolioThrough the acquisition, Energy Transfer gets access to SemGroup’s Houston Fuel Oil Terminal (HFOTCO) in Texas, which is said to consolidate the former’s crude oil transportation, terminalling, and export capabilities. Furthermore, the crude oil terminal is said to give a strategic position to Energy Transfer on the Houston Ship Channel.The HFOTCO terminal, which has a capacity of more than 18 million barrels of crude oil, also accommodates five deep-water ship docks, and seven barge docks.Energy Transfer is constructing a new 46.6km long crude oil pipeline called the Ted Collins Pipeline that will connect the HFOTCO terminal with its Nederland Terminal. The new pipeline is expected to offer further access to shippers from the Houston Ship Channel to markets along the Gulf Coast.The Ted Collins Pipeline is likely to begin operations in 2021, and will initially have a capacity of 500 thousand barrels per day.The merger with SemGroup expands Energy Transfer’s pipeline footprint through the addition of crude oil and natural gas liquids (NGL) gathering systems and transmission lines located across the DJ Basin in Colorado and the Anadarko Basin in Oklahoma and Kansas with connections to crude oil terminals in Cushing, Oklahoma.The acquisition also gives Energy Transfer a significant crude oil gathering and transportation footprint in the Alberta Basin in western Canada.Energy Transfer, in a statement, said: “The combined operations of the two companies are expected to generate annual run-rate efficiencies of more than $170 million, consisting of commercial and operational synergies of $80 million, financial savings of $50 million and cost savings of $40 million.”last_img read more

The data warehouse is not enough

first_imgCredit unions are beginning to invest heavily in big data and analytics.  When deciding how to allocate funds in this space, leaders are awash with buzzwords and conflicting advice.  One of the most common terms used within big data and analytics is: data warehouse.  Deciding whether to build or buy a data warehouse is an important strategic decision for credit unions.  Unfortunately, many decision-makers get lost in discussions about storage capacity, data processing, data visualization, etc.  All of these concepts are important.  However, data warehousing is not the solution.  It is a powerful tool in an enterprise data management (EDM) strategy.Without master data management (MDM) to define data elements, agree on business terms, and document the logic of data integration, the data warehouse will be confusing to end users.  Because data fields are defined differently throughout a credit union’s source systems, terms are used interchangeably (without the same meanings).  This will bring more confusion.  A data warehouse, which is supposed to be the Single Version of Truth (SVOT), must have an effective EDM strategy to reach its fullest potential.Most Valuable AssetThe internet has made data the most valuable asset in the credit union industry.  Credit unions are realizing the value of their data and are tailoring their budgets to invest accordingly.  Understanding that data is the most valuable asset of the credit union is the first step toward developing an EDM strategy.  However, a search for the word data will bring up thousands of conflicting pages instructing credit union leaders to handle their data in certain ways (while also mentioning their latest and greatest analytics applications). continue reading » 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Regents in East Java supply migrant workers with face masks following shortage

first_imgThe Tulungagung and Trenggalek administrations also plan to send masks to migrant workers in Hong Kong. Tulungagung administration public relations head Galih Nusantoro said it would send 4,000 face masks to Tulungagung migrant workers in Hong Kong via the Indonesian consulate there. “This is the first phase. We will keep monitoring the situation especially in Hong Kong, Taiwan and Singapore and will send more face masks to them if the situation requires us to do so,” he said on Tuesday. The Trenggalek administration said it would also send masks to Hong Kong. “Today, we will send 10,000 face masks to our friends who work in Hong Kong. Migrant workers from Trenggalek can get them from the Indonesian consulate once they arrive,” Trenggalek Regent M Nur Arifin said on Tuesday. According to the Johns Hopkins University Center for Systems Science and Engineering (CSSE), there were more than 45,000 confirmed COVID-19 cases as of Wednesday, with 50 in Hong Kong, 47 in Singapore and 18 in Taiwan. (dyk)Topics : The Blitar regency administration announced it would send 10,000 face masks to Indonesian migrant workers from Blitar in Hong Kong. “I have been informed by some workers from Blitar in Singapore about the difficulties faced by Blitar workers in Hong Kong in obtaining face masks. Today we will send face masks to them,” Blitar Regent Rijanto told reporters on Wednesday. However, he added that the administration would take care to ensure the face masks would still be available to residents in Blitar itself.The Blitar Manpower Agency recorded that 4,377 migrant workers had left the regency to work abroad in 2019, with a majority being placed in Hong Kong and Taiwan. More than 95 percent are women working in the informal sector, mainly as domestic workers. The administrations of Blitar, Tulungagung and Trenggalek regencies in East Java plan to send face masks to migrant workers following reports of mask shortages in a number of countries, especially Hong Kong.The three regencies are among the province’s top suppliers of migrant workers.The regents decided to take the step after several migrant workers asked their relatives at home to send masks to protect against the novel coronavirus outbreak. last_img read more