Atlanta, GA – Scibility Media – 10/22/2014.
This article discusses two oil & gas equipment & services companies: Tesoro Logistics LP(NYSE:TLLP) and Helix Energy Solutions Group Inc(NYSE:HLX)
Tesoro Logistics LP(NYSE:TLLP) announced a public offering of 20,000 common share units at $57.47 per share on Monday. Additionally, the company has granted its underwriters a 30-day over-allotment period, during which they can purchase 3,000,000 common units. The San Antonio-based company’s offering will close on Oct. 24th, 2014 and is subject to customary closing conditions.
The company will be using the net proceeds from this public offering to fund part of its purchase price of Tesoro Logistics’ acquisition of QEB Field Services, LLC and QEP Resources, Inc. The former company, which provides gas-gathering and processing services in the Rocky Mountain and northwest Louisiana regions, also owns a 38% interest in Uintah Basic Field Services and a 50% interest in Three Rivers Gathering.
Helix Energy Solutions Group Inc(NYSE:HLX) reported its third quarter financial results after the markets closed on Monday. The reported figures included a net income of $75.6 million, or $0.71 per diluted share. These figures represents a $31.0 million, or $0.29 per diluted share, boost from the company’s figures for the same period during the previous fiscal year. The nine month year-over-year period comparison further accentuates the depth of Helix Energy’s recent success.
The Houston-based company will also be presenting at two conferences on Nov. 11th: the Jefferies 2014 Global Energy Conference in Houston and the Stephens Fall Investment Conference in New York City. Both events should give Helix Energy the opportunity to interact with individuals that could push the company’s future forward in some fashion.
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