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PAA Natural Gas Storage L.P. (PNG)
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QUOTE AND NEWS
Horizon sells stake in PNG gas
The Australian  2 hrs ago  Comment 
OSAKA Gas has agreed to pay up to $211m to acquire stakes in natural gas assets in Papua New Guinea owned by Horizon Oil.
Detention centres closed to inspection
Sydney Morning Herald  May 16  Comment 
The government and opposition have rejected a bid to open the offshore detention centres in Nauru and PNG for inspection by Australia's Human Rights Commissioner.     
Mainland excised from Australia's migration zone
Sydney Morning Herald  May 16  Comment 
The government and opposition have rejected a bid to open the offshore detention centres in Nauru and PNG for inspection by the Australia's Human Rights Commissioner.     
PNG says sorry for violence against women
Sydney Morning Herald  May 15  Comment 
PNG's prime minister has vowed to fight violence against women before a mass gathering of mourners and activists in Port Moresby.     
PNG businessman's Qld property seized
Sydney Morning Herald  May 14  Comment 
A Brisbane court has ordered the seizure of assets in north Queensland linked to wanted PNG businessman Eremas Wartoto.     
Manus detention centre in PNG court
Sydney Morning Herald  May 14  Comment 
A legal challenge to the Australian-run Manus Island detention centre will face dismissal proceedings in Papua New Guinea's courts next month.     
PM pays respects to WWII troops, wraps up PNG visit
Sydney Morning Herald  May 11  Comment 
In the searing heat and sweltering humidity of the PNG wet season, Julia Gillard paid her respects to civilian soldiers who lost their lives during World War II.     
Gillard wraps up Papua New Guinea visit
Sydney Morning Herald  May 10  Comment 
Julia Gillard has laid a wreath at Bomana war cemetery in PNG and visited the graves of Victoria Cross winners John French and Ben Kingsbury.     
Oil Search seeks projects around PNG
The Australian  May 10  Comment 
OIL Search is eyeing off a new liquefied natural gas project in the Gulf of Papua before its flagship PNG project is finished.
Oil Search looks to PNG for growth
Sydney Morning Herald  May 10  Comment 
Oil Search eyes new Gulf project
The Australian  May 10  Comment 
Oil Search looks to future growth
Sydney Morning Herald  May 10  Comment 
Oil Search believes it might be able to establish a new standalone LNG project as the massive PNG LNG venture it is a partner in nears completion     




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 This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company.
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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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