QUOTE AND NEWS
The Hindu Business Line  Apr 19  Comment 
Piped gas supplier Adani Gas has raised retail prices in Ahmedabad and Vadodara. “In view of the revision of price of domestic gas by Ministry of Pe
Upstream Online  Apr 19  Comment 
Production guidance revised down following devastating disaster in Papua New Guinea
OilVoice  Apr 13  Comment 
Santos has been advised by ExxonMobil, the PNG LNG operator, that production of liquefied natural g ...
Upstream Online  Apr 13  Comment 
OilVoice  Apr 12  Comment 
2 trillion cubic feet of gas added to P'nyang field resource estimate Recoverable resource now es ...
OilVoice  Apr 4  Comment 
Oil, Gas and Industrial Sectors Are Targeted Pipeline technology specialist, STATS Group (STATS) ...
The Economic Times  Apr 4  Comment 
The tariff they will charge for transportation of CNG and piped gas or PNG within the city, which previously was the deciding criteria for winning a licence, has been given just 10 per cent weightage.




 
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PAA Natural Gas Storage L.P. (PNG) (NYSE:PNG) operates and manages natural gas storage facilities. The company has doubled its storage facilities since 2005, having 40 Bcf as of 31 December 2009. It plans to increase total capacity by 70% to reach a total of 68 Bcf. The company sells its space to customers for a fee. [1]

The company has a contractual relationship with its customers. If there was increased competition in the space or expenses and costs rose, the company would have less cash flow. It faces the risk of not being able to pay the minimum distribution to common shareholders, general partner, and Series A shareholders. [1]

The company's initial public offering of stock filed on the NYSE exchange on 25 January 2010. The proposed offer price range is $20.00-$20.00. The company is offering 10 million shares and raising $200 million. [1]

In FY2009 with year ended 31 December 2009, the company reported $72.2 million in total revenue, up 46.7% from $49.2 million in total revenue for FY2008. Furthermore, the company had $24.0 million in net income for FY2009, up 22.4% from $19.6 million in net income for FY2008. [1]

References

  1. 1.0 1.1 1.2 1.3 PAA Nautlra GAs Storage L.P. S-1/A
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