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StreetInsider.com  Oct 30  Comment 
The following is a list of notable articles to help get you through the lunch hour: Keefe, Bruyette & Woods Downgrades Fox Chase Bancorp (FXCB) to Market Perform -> Read this! Fitch Sees Gradual Rise in Rates as Positive for U.S. Banks -> Read...
Benzinga  Oct 30  Comment 
Niska Gas Storage Partners LLC (NYSE: NKA) shares touched a new 52-week low of $8.67 after the company reported downbeat quarterly results and issued an update on current business environment and outlook. Intrepid Potash (NYSE: IPI) shares...
SeekingAlpha  Jul 31  Comment 
The following audio is from a conference call that will begin on July 31, 2014 at 09:00 AM ET. The audio will stream live while the call is active, and can be replayed upon its completion. Listen now Complete Story »
SeekingAlpha  May 8  Comment 
Niska Gas Storage Partners LLC (NKA) Q4 2014 Earnings Call May 8, 2014 9:00 a.m. ET Executives Bill Shea – President and CEO Rick Staples – EVP and Chief Commercial Officer Vance Powers – CFO Sarah Steel – Controller ...
StreetInsider.com  Feb 26  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/MLPs+Screened+for+Potential+Distribution+Cut+-+Goldman+Sachs+%28NS%29+%28NKA%29+%28SXE%29+%28EEP%29+%28TCP%29/9218734.html for the full story.
SeekingAlpha  Feb 19  Comment 
By MLPData: The radical distribution cut and share price meltdown from the February 10 earnings news by Boardwalk Pipeline Partners LP (BWP) seems to have pushed investors holding the similar Niska Gas Storage Partners LLC (NKA) into taking...
StreetInsider.com  Feb 13  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Analyst+Speculates+About+Additional+Distribution+Cuts+at+MLPs+%28BWP%29+%28EEP%29+%28EVEP%29+%28NKA%29+%28NS%29/9166131.html for the full story.
Benzinga  Feb 10  Comment 
Bank of America downgraded Fairway Group Holdings (NASDAQ: FWM) from “neutral” to “underperform.” The price target for Fairway Group has been lowered from $20 to $6. Fairway Group's shares closed at $8.12 on Friday. Analysts at Credit...
SeekingAlpha  Feb 3  Comment 
ByJon Parepoynt: Niska Gas Storage Partners LP (NKA) is the largest natural gas storage firm in North America. As it operates under a master limited partnership (MLP) structure, investors are accustomed to receiving outsized distributions, but at...




 
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Niska Gas Storage Partners LLC (NKA) (NYSE:NKA) is the largest independent operator of natural gas storage assets in North America. The company has 185.5 Bcf (billion cubic feet) of storage for natural gas. Since its founding in 2006, the company has added 41.3 Bcf in storage space, a 29% increase. The supply of natural gas is relatively steady, however the demand for natural gas fluctuates. Therefore, there is a need to store the excess natural gas in slow periods, while taking it out of storage in periods of strong demand. Niskas Gas Storage offers contracts to allow its customers inject and withdraw their natural gas. The contract ranges from 1.0 to 6.0 cycles with an average of 2.2. [1]

The company offers two contracts. Long term contracts are contracts longer than 1 year, and short term contracts are contracts less than 1 year. The company also trades its own natural gas and accounts for it in net optimization revenue. Natural gas storage companies are capital intensive, requiring equity or debt financing to expand. If the economic conditions are not favorable, the company may not be able to expand its operation in order to create new storage space for new or existing customers. [1]

The company's initial public offering of stock filed on the NASDAQ exchange and went public on 11 May 2010. The stock was priced at $20.50, within the price range of $20.00 - $22.00. The company sold 17.5 million shares to raise $359 million. [1]

For the nine months ended 31 December 2009, the company reported total revenue of $149.7 million, down 29.3% from $211.6 million in total revenue for the nine months ended 31 December 2008. Furthermore, the company had net income of $3.2 million for the nine months ended 31 December 2009, down from $100.8 million in net income for the nine months ended 31 December 2008. The revenue is distributed with 55% in long-term contract revenue, 27% in short-term contract revenue, and 19% in net optimization revenue. [1]

References

  1. 1.0 1.1 1.2 1.3 Niska Gas Storage Partners LLC S-1/A
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