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Thread: Devon Crosstex MLP (EnLink)

  1. #26
    HangryHippo Guest

    Default Re: Devon Crosstex Mlp in Dallas

    Quote Originally Posted by adaniel View Post
    In all seriousness I agree with you. Devon has a mountain of cash and I've heard rumors its looking to acquire, but taking care of this and getting the Wall Street bros off its back was priority numero uno. Now that has been taken care of you will see a lot more movement on the acquisition front.
    I sure hope you're right about the acquisition piece.

  2. #27

    Default Re: Devon Crosstex Mlp in Dallas

    Quote Originally Posted by Praedura View Post
    Feels that way.

    Well, hotel construction downtown is booming. And lots of residential complexes already in construction or on the horizon. So that part is going well.

    But office buildings... yikes. Don't know why they aren't popping up like mushrooms right now. We do have the Stage Center tower that we may discover something about one of these days, I guess.
    Parkside building is being worked on, sort of. And then... what else? Yeesh.
    Fact is, the way technology has increased over the years, the need for office space is diminishing. Nowadays, you can pretty much do any office job, with just a laptop, cell phone, and Internet connection. This is not the 80's, that is why you see more high residential construction more than anything.

  3. #28

    Default Re: Devon Crosstex Mlp in Dallas

    Quote Originally Posted by modernism View Post
    Oklahoma City commercial development is really slow. Dallas, Houston, and Austin have so much commercial development going on its ridiculous.
    We have been getting a lot of bad, or at least less positive economic news in OKC lately. It sucks that this means a net-loss of high paying, white collar jobs for OKC.

    Quote Originally Posted by G.Walker View Post
    Fact is, the way technology has increased over the years, the need for office space is diminishing. Nowadays, you can pretty much do any office job, with just a laptop, cell phone, and Internet connection. This is not the 80's, that is why you see more high residential construction more than anything.
    This is true, and its why I believe its wishful thinking to think OKC will get three or more additional commercial towers. Most towers being built recently have been residential and not commercial. For a city the size of OKC to get three major commercial towers in the 2010s decade would simply be unprecedented. I will honestly be surprised if there is a second tower. I think the Stage Center Tower will be it. Now residential towers are a different story and OKC could potentially in the future see real skyline transformation that way. However, I don't see that coming any time soon unless job and population growth kick into high gear.

  4. #29

    Default Re: Devon Crosstex Mlp in Dallas

    Quote Originally Posted by G.Walker View Post
    Fact is, the way technology has increased over the years, the need for office space is diminishing. Nowadays, you can pretty much do any office job, with just a laptop, cell phone, and Internet connection. This is not the 80's, that is why you see more high residential construction more than anything.
    Nah, I don't buy that explanation at all. It's like 10-12 years ago when I was hearing that 'work-at-home' was going to transform business and that the traditional work place was going away. Well, a lot of people do work at home, but it's only a small minority and most people still trudge to their work place, like always.

    I'm sure that many small businesses and start-ups operate just like you're saying. But once they reach a certain size... woops, then you need office space in actual buildings.

    No, OKC badly needs more class A space, by all accounts, so I definitely see more office buildings being built downtown. Just wish that I knew what plans are brewing away in secret quarters.

  5. #30

    Default Re: Devon Crosstex Mlp in Dallas

    Quote Originally Posted by bchris02 View Post
    This is true, and its why I believe its wishful thinking to think OKC will get three or more additional commercial towers. Most towers being built recently have been residential and not commercial. For a city the size of OKC to get three major commercial towers in the 2010s decade would simply be unprecedented. I will honestly be surprised if there is a second tower. I think the Stage Center Tower will be it. Now residential towers are a different story and OKC could potentially in the future see real skyline transformation that way. However, I don't see that coming any time soon unless job and population growth kick into high gear.
    I'm not really sure why you think that or what you're basing this opinion on, but I don't two or three more towers in OKC is wishful thinking at all. All it takes is one energy company (Continental) running out of office space, not being able to find any additional space, and building a tower. Downtown OKC is out of class A office space and according to Steve, we've had to turn businesses (or at least one large business) away because of it. There is going to have to be an increase in space by one means or another and I don't see how one new tower that includes a major tenant will be able to meet all of the current and future demand.

  6. #31

    Default Devon's midstream spin-off officially named EnLink

    EnLink Midstream - Connecting Energy to Life - Strong. Innovative. Growing.



    EnLink Midstream to be Name of New Combined Midstream Business
    OKLAHOMA CITY & DALLAS--(BUSINESS WIRE)--Jan. 14, 2014-- Devon Energy Corporation (NYSE: DVN) (“Devon”) and Crosstex Energy, L.P. (the “Partnership”) (NASDAQ: XTEX) and Crosstex Energy, Inc. (the “Corporation”) (NASDAQ: XTXI) (collectively “Crosstex”) today announced the selection of EnLink Midstream Partners, LP and EnLink Midstream, LLC as the names of their new combined midstream business following the completion of the transaction.

    On October 21, 2013, Devon and Crosstex announced the signing of definitive agreements to combine substantially all of Devon’s U.S. midstream assets with Crosstex’s assets to form a new midstream business. The new business will consist of two publicly traded entities: the master limited partnership, whose name will change upon closing from Crosstex Energy, L.P. to EnLink Midstream Partners, LP, and a publicly traded general partner entity, which will be called EnLink Midstream, LLC. Applications will be filed to list the common units of both EnLink Midstream Partners, LP and EnLink Midstream, LLC on the New York Stock Exchange upon the closing under the symbols “ENLK” and “ENLC”, respectively. The new website for EnLink Midstream can be found at EnLink Midstream - Connecting Energy to Life - Strong. Innovative. Growing..

    “We are proud to introduce EnLink Midstream, which will be a leading, integrated midstream company with a diverse geographic footprint and a strong financial foundation,” said Barry E. Davis, Chief Executive Officer of Crosstex and incoming CEO of EnLink Midstream. “This strategic combination is expected to generate immediate and future value for our equity holders and to provide greater capacity to pay distributions. Our enhanced financial position will support both existing and new growth projects and our employees will benefit from working for a larger, stronger company.”

    The transaction, which is expected to close in the first quarter of 2014, is subject to approval by the stockholders of the Corporation as well as other customary closing conditions. On December 13, 2013, Crosstex announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

    Information About Notice to NASDAQ

    Crosstex has submitted written notice to the NASDAQ Global Select Market (“NASDAQ”) of its intention to voluntarily delist the Corporation’s common stock and the Partnership’s common units from NASDAQ and to apply for the listing of EnLink Midstream, LLC’s common units and the Partnership’s common units on the NYSE. The proposed delistings are subject to and conditioned upon the closing of the transaction.

    Management of Crosstex determined that the proposed delistings would be in the best interests of the equityholders of the Partnership and the Corporation and the business as a whole. Shortly following the closing of the transaction, the Corporation and the Partnership each intend to file a Form 25 with the Securities and Exchange Commission (the “SEC”) to effect the proposed delistings from NASDAQ. The official delistings will become effective approximately ten days thereafter.

  7. #32

    Default Re: Devon's midstream spin-off officially named EnLink

    NewsOK article says they'll be based in Dallas.

    Devon, Crosstex name midstream partnership | News OK

  8. #33

    Default Re: Devon's midstream spin-off officially named EnLink

    Quote Originally Posted by hoyasooner View Post
    NewsOK article says they'll be based in Dallas.

    Devon, Crosstex name midstream partnership | News OK
    Probably just until they can build an OKC headquarters on the Preftakes block.

  9. #34
    HangryHippo Guest

    Default Re: Devon's midstream spin-off officially named EnLink

    How many employees is this expected to have?

  10. #35

    Default Re: Devon's midstream spin-off officially named EnLink

    http://www.dallasnews.com/business/c...eline-deal.ece

    An interesting article with some background on CrossTex

    Quote Originally Posted by Just the facts View Post
    Probably just until they can build an OKC headquarters on the Preftakes block.
    This article sure doesn't make it sound like EnLink is leaving Dallas anytime soon.

  11. #36
    HangryHippo Guest

    Default Re: Devon's midstream spin-off officially named EnLink

    Quote Originally Posted by DoctorTaco View Post
    http://www.dallasnews.com/business/c...eline-deal.ece

    An interesting article with some background on CrossTex



    This article sure doesn't make it sound like EnLink is leaving Dallas anytime soon.
    This was my thought as well.

  12. #37

    Default Re: Devon Crosstex MLP (EnLink)

    Devon Energy completes midstream merger with Dallas-based company | News OK

    Reports of the Dallas location are correct.

    Devon Energy Corp. on Friday completed the merger of its midstream assets with Dallas-based Crosstex Energy Inc. to create EnLink Midstream.

    The new companies will be based in Dallas where Crosstex was founded in 1996.

    The transaction closed after Crosstex shareholders approved the plan.

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