NuStar Energy to Sell San Antonio Refinery, Assets for $100 Mln; Busy Deal Time For Company; Shrs Turn Negative

By Staff,

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NuStar Energy L.P. ( NS ) was up 0.2%, but is now down by as much after signing a purchase agreement to sell its San Antonio refinery and related assets, including a terminal in Elmendorf, Texas, and a pipeline connecting the terminal and refinery, to Calumet Specialty Products Partners L.P. for $100 million, plus closing date inventory estimated to be $15 million.

The stock has touched a day high $44.58 and a day low $43.75 compared to an open price of $43.75.

NuStar said Friday that it has closed on the purchase of crude oil pipeline, gathering and storage assets in the Eagle Ford Shale region from TexStar Midstream Services LP for around $325 million.

Meanwhile, NuStar decided to extend the deadline on the Niobrara Falls Open Season to Feb. 15, 2013.

Shares have fallen 20% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NS

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