| Master Limited Partnerships (MLP's) Page 3 Back to Page 1 Back to Page 2 |
Master Limited Partnerships have the same liquid trading characteristics of common stocks---yet they are very different from common stocks, The most obvious difference to you, the investor, is that they 'pass through' their income. They are called 'pass through securities' because they are NOT taxed at the corporate level, but instead pass the income on to the unitholders where taxes are paid by the unitholder. Because of the pass though nature of the security the more normal 'double taxation' of income is avoided (normally the corporation pays taxes on the net income and they pay you, the investor, dividends and you are taxed again) meaning there is more income available for dividends MLP's mainly operate in oil and gas related businesses. This would include propane distribution and retailing. They may also operate in the fuel storage or distribution (pipeline) business. The balance of the MLP's available operate in timber, minerals, real estate or other miscellaneous businesses (for instance Cedar Fair -- Amusement Parks) Listed below is our Master List of MLP's. |
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| Suburban Propane Partners Financials for Period Ending 12/26/2009 Suburban Propane Partners, L.P. and its subsidiaries engage in the distribution of propane, fuel oil, kerosene, diesel fuel, gasoline, and refined fuels, as well as marketing of natural gas and electricity in deregulated markets. As of September 27, 2008, it served approximately 900,000 active residential, commercial, industrial, and agricultural customers through approximately 300 locations in 30 states located primarily in the east and west coast regions of the United States, including Alaska. The company also sells, installs, and services various whole-house heating products, air cleaners, humidifiers, de-humidifiers, hearth products, and space heaters to the customers of its propane, fuel oil, natural gas, and electricity products, as well as offers services, such as duct cleaning, air balancing, and energy audits. Suburban Energy Services Group LLC serves as the general partner to Suburban Propane Partners, L.P. The company was founded in 1945 and is based in Whippany, New Jersey. Yield as of 4/23/2010 6.85% |
| Sunoco Logistics Partners Financials for Period Ending 12/31/2009 Sunoco Logistics Partners L.P. engages in the transport, terminalling, and storage of refined products and crude oil, as well as the purchase and sale of crude oil in the United States. Its Eastern Pipeline System segment owns and operates approximately 1,650 miles of refined product pipelines that transport gasoline, heating oil, diesel and jet fuel, liquefied petroleum gas, refining feedstocks, and other hydrocarbons from refineries in Pennsylvania, Ohio, and New Jersey, as well as from third party locations. This segment also includes approximately 140 miles of crude oil pipelines; and various joint venture interests in refined product pipeline companies. The company’s Terminal Facilities segment consists of 36 refined product terminals with an aggregate storage capacity of 6.2 million barrels, primarily serving the Eastern Pipeline System; the Nederland Terminal, a 14.7 million barrel marine crude oil terminal on the Texas Gulf Coast; a 2.0 million barrel refined product terminal serving Sunoco’s Marcus Hook refinery near Philadelphia, Pennsylvania; 1 inland and 2 marine crude oil terminals with a combined capacity of 3.4 million barrels, and related pipelines that serve Sunoco’s Philadelphia refinery; a ship and barge dock, which serves Sunoco’s Eagle Point refinery; and a 1.0 million barrel liquefied petroleum gas terminal near Detroit, Michigan. Its Western Pipeline System segment gathers, purchases, sells, and transports crude oil principally in Oklahoma and Texas. This segment also consists of approximately 3,200 miles of crude oil trunk pipelines; approximately 110 crude oil transport trucks; approximately 120 crude oil truck unloading facilities; a 55.3% interest in the Mid-Valley Pipeline Company, a joint venture that owns a 994-mile pipeline; and a 43.8% interest in West Texas Gulf Pipe Line Company, a joint venture that owns a 579-mile crude oil pipeline. The company was founded in 2001 and is based in Philadelphia, Pennsylvania. Yield as of 4/23/2010 6.1% |
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| Nustar Energy Partners Financials for Period Ending 12/31/2009 NuStar Energy L.P. engages in the terminalling, storage, and transportation of petroleum products in the United States, the Netherland Antilles, Canada, Mexico, the Netherlands and the United Kingdom. It operations through the three segments: Storage, Transportation, and Asphalt and Fuels Marketing. The Storage segment operates terminal facilities that provide storage and handling services on a fee basis for petroleum products, specialty chemicals, crude oil, and other liquids; and crude oil storage tanks used to store and deliver crude oil. In addition, its terminals provide pilotage, tug assistance, line handling, launch service, emergency response, and other ship services. The Transportation segment transports refined petroleum products and crude oil. It operates refined product pipelines in Texas, Oklahoma, Colorado, New Mexico, Kansas, Nebraska, Iowa, South Dakota, North Dakota and Minnesota covering approximately 5,679 miles. In addition, it owns a 2,000 mile anhydrous ammonia pipeline located in Louisiana, Arkansas, Missouri, Illinois, Indiana, Iowa, and Nebraska. The Asphalt and Fuels Marketing segment refines crude oil to produce asphalt and certain other refined products. It also purchases gasoline and other refined petroleum products for resale. As of December 31, 2008, the company had 58 refined product terminal facilities and 1 crude oil terminal facility; 60 crude oil storage tanks; 5,679 miles of refined product pipelines and 2 tank farms; 2,000 miles of anhydrous ammonia pipelines; 812 miles of crude oil pipelines; and 2 asphalt refineries and 2 associated terminal facilities. NuStar Energy L.P. was founded in 1999 and is based in San Antonio, Texas. Yield as of 4/23/2010 6.63% |
| Plains All American Pipeline Financials for Period Ending 12/31/2009 Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, refined products, and liquefied petroleum gas and other natural gas-related petroleum products (LPG) in the United States and Canada. It operates in three segments: Transportation, Facilities, and Marketing. The Transportation segment involves in transporting crude oil and refined products on pipelines, gathering systems, trucks, and barges. As of December 31, 2008, it had 17,000 miles of active crude oil and refined products pipelines and gathering systems; 24 million barrels of above-ground tank capacity used primarily to facilitate pipeline throughput; 1 million barrels of crude oil linefill in pipelines owned by the company; 86 trucks and 341 trailers; 65 transport and storage barges; and 36 transport tugs. The Facilities segment provides storage, terminalling, and throughput services for crude oil, refined products, and LPG, as well as LPG fractionation and isomerization services. The Marketing segment purchases crude oil at the wellhead, crude oil at pipeline and terminal facilities, and foreign cargoes at their load port and various other locations in transit; resells or exchanges crude oil, refined products, and LPG at various points along the distribution chain; and transports crude oil, refined products, and LPG on trucks, barges, railcars, pipelines, and ocean-going vessels. The company was founded in 1998 and is based in Houston, Texas Yield as of 4/23/2010 6.26% |
| Rio Vista Energy Delisted Near Bankruptcy---11/20/2009 |
| Star Gas Partners Financials for Period Ending 12/31/2009 Star Gas Partners, L.P. operates as a home heating oil distributor and services provider in the United States. It provides its services to residential and commercial customers to heat their homes and buildings. As of September 30, 2008, the company serviced approximately 402,000 residential and commercial home heating oil customers, and 7,000 propane customers. It also sells home heating oil, gasoline, and diesel fuel to approximately 28,000 customers. In addition, Star Gas Partners installs, maintains, and repairs heating and air conditioning equipment, as well as provides ancillary home services, including home security and plumbing to approximately 11,000 customers. Kestrel Heat, LLC operates as the general partner of the company. Star Gas Partners was founded in 1995 and is headquartered in Stamford, Connecticut. Yield as of 4/23/2010 6.7% |
| StoneMor Partners Financials for Period Ending 12/31/2009 StoneMor Partners L.P. owns and operates cemeteries in the United States. It operates through two segments, Funeral Homes and Cemetery Operations. The Funeral Homes segment offers funeral-related services, such as family consultation, the removal of and preparation of remains, and the use of funeral home facilities for visitation. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers, and other cemetery related merchandise. It also offers opening and closing, which is the digging and refilling of burial spaces to install the vault and place the casket into the vault; and installs burial vaults, caskets, and other cemetery merchandise. As of December 31, 2008, the company operated 232 cemeteries in 25 states and Puerto Rico primarily in the eastern United States. It also owned and operated 60 funeral homes in Alabama, Arkansas, Illinois, Florida, Kansas, Maryland, Missouri, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, Washington, South Carolina, Puerto Rico, and California. StoneMor GP LLC serves as the general partner of the company. StoneMor Partners L.P. was founded in 1999 and is headquartered in Levittown, Pennsylvania. Yield as of 4/23/2010 11.2% |
| TC Pipelines Financials for Period Ending 12/31/2009 TC PipeLines, LP, together with its subsidiaries, transports natural gas from the western Canada Sedimentary Basin (WCSB) to various downstream markets in the United States. It owns a 46.45% general partner interest in Great Lakes Gas Transmission Limited Partnership (Great Lakes), which owns a 2,115 miles natural gas pipeline system that extends across Minnesota, Northern Wisconsin, and Michigan and redelivers gas at the Canadian border at Sault Ste. Marie, Michigan, and St. Clair, Michigan. Great Lakes also delivers gas to other storage systems and interconnects with other interstate natural gas pipelines. The company also owns a 50% general partner interest in Northern Border Pipeline Company (Northern Border) that transports natural gas through a pipeline system of 1,249 miles, which provides pipeline access to the Midwestern United States from natural gas reserves in the WCSB. Northern Border also transports natural gas produced in the Williston Basin of Montana and North Dakota, and the Powder River Basin of Wyoming and Montana, as well as synthetic gas produced at the Dakota Gasification plant in North Dakota; and transports natural gas from the Canadian border near Port of Morgan, Montana to a terminus near North Hayden, Indiana. In addition, the company owns a 100% general partner interest in the Tuscarora Gas Transmission Company, which owns a 240 miles of pipeline system that originates at an interconnection point near Malin, Oregon and runs southeast through northeastern California and northwestern Nevada; and terminates near Wadsworth, Nevada. TC PipeLines GP, Inc. serves as the general partner of the company. TC PipeLines, LP was founded in 1998 and is based in Omaha, Nebraska. Yield as of 4/23/2010 7.38% |
| TEPPCO Partners Merged 10/26/2009 |
| TransMontaigne Partners Financials for Period Ending 12/31/2009 TransMontaigne Partners L.P. operates as a terminaling and transportation company. It provides integrated terminaling, storage, transportation, and related services for customers engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers, and other liquid products. The company operates along the Gulf Coast, in the Midwest, in Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the southeastern United States. As of December 31, 2008, it operated 8 refined product terminals, 7 of which are in Florida and 1 in Mobile, Alabama with a storage capacity of approximately 6.5 million barrels; a 67-mile interstate refined products pipeline between Missouri and Arkansas; and a terminal in Brownsville, Texas that has approximately 2.2 million barrels of aggregate active storage capacity. The company also operated 12 refined product terminals along the Mississippi and Ohio Rivers with approximately 2.7 million barrels of aggregate active storage capacity; a dock facility in Baton Rouge, Louisiana that is connected to the Colonial pipeline; and 22 refined petroleum products terminals along the Colonial and Plantation pipelines in Alabama, Georgia, Mississippi, North Carolina, South Carolina, and Virginia with an aggregate active storage capacity of approximately 8.8 million barrels. TransMontaigne GP L.L.C. serves as the general partner of the company. TransMontaigne Partners L.P. was founded in 2005 and is based in Denver, Colorado. Yield as 4/23/2010 7.8% |
| Oneok Partners Financials for Period Ending 12/31/2009 ONEOK Partners, L.P. engages in the ownership and management of natural gas gathering, processing, storage, and interstate and intrastate pipeline assets, as well as natural gas liquids (NGLs) gathering and distribution pipelines, and storage and fractionators in the United States. The company’s Natural Gas Gathering and Processing segment gathers and processes unprocessed natural gas produced from crude oil and natural gas wells located in the Mid-Continent region. It also gathers unprocessed natural gas in the Williston Basin, which spans portions of Montana, North Dakota, and the Canadian province of Saskatchewan; and the Powder River Basin of Wyoming. Its Natural Gas Pipelines segment primarily operates regulated interstate and intrastate natural gas transmission pipelines, natural gas storage facilities, and non-processable natural gas gathering facilities. The company transports natural gas through FERC-regulated interstate natural gas pipelines in Montana, North Dakota, South Dakota, Minnesota, Wisconsin, Iowa, Illinois, Indiana, Kentucky, Tennessee, Oklahoma, Texas, and New Mexico, as well as transports intrastate natural gas through its assets in Oklahoma. This segment also owns storage capacity in underground natural gas storage facilities in Oklahoma, Kansas, and Texas. Its Natural Gas Liquids Gathering and Fractionation segment gathers, treats, and fractionates NGLs produced by natural gas processing plants; and stores and markets NGL products. The company’s Natural Gas Liquids Pipelines segment owns and operates FERC-regulated interstate natural gas liquids gathering and distribution pipelines, which deliver unfractionated NGLs and NGL products to the natural gas liquids market hubs. ONEOK Partners GP serves as the general partner of the company. The company was formerly known as Northern Border Partners, L.P. and changed its name to ONEOK Partners, L.P. in 2006. ONEOK Partners, L.P. was founded in 1993 and is based in Tulsa, Oklahoma. Yield as of 4/23/2010 6.84% |
| Williams Partners Financials for Period Ending 12/31/2009 Williams Partners L.P. engages in gathering, transporting, processing, and treating natural gas, as well as fractionating and storing natural gas liquids (NGL) in the United States. Its natural gas liquids result from natural gas processing and crude oil refining and are used as petrochemical feedstocks, heating fuels, and gasoline additives. The company’s Gathering and Processing segment provides natural gas gathering, transporting, processing, and treating services to customers under contractual arrangements. As of December 31, 2008, it owned an approximate 3,800-mile natural gas gathering system, including three natural gas processing plants and two natural gas treating plants located in the San Juan Basin in Colorado and New Mexico; an approximate 1,800-mile natural gas gathering system comprising a natural gas processing plant located in the Washakie Basin in Wyoming; an integrated natural gas gathering and transportation pipeline system extending from offshore in the Gulf of Mexico to a natural gas processing plant and a NGL fractionator in Louisiana; and an unregulated sour gas gathering pipeline consisting of approximately 34 miles of pipeline off the coast of Alabama. The company’s NGL Services segment provides natural gas liquids fractionation and storage services. It operated three integrated NGL storage facilities, and had a 50% interest in an NGL fractionator located in Conway, Kansas. Williams Partners GP LLC serves as the general partner of the company. Williams Partners L.P. was founded in 2005 and is based in Tulsa, Oklahoma. Yield as of 4/23/2010 6.13% |
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| Pope Resources Financials for Period Ending 12/31/2009 Pope Resources, A Delaware Limited Partnership, through its subsidiaries, engages primarily in managing timber resources. It operates in three segments: Fee Timber, Timberland Management & Consulting, and Real Estate. The Fee Timber segment engages in growing and harvesting timber from its tree farms. It sells logs and timber products to lumber mills and other wood fiber processors located in western Washington and northwest Oregon, in Pacific Rim markets, as well as exports to brokers. The Timberland Management & Consulting segment provides timberland management and forestry consulting services to third-party owners of timberlands. The Real Estate segment engages in securing permits, entitlements, and installing infrastructure for raw land development; and selling the land to buyers, who sell it to home buyers, operators, or lessors of commercial property. It also engages in the rental of residential and commercial properties in Port Gamble and Kingston, Washington. As of December 31, 2008, Pope Resources owned 114,000 acres of timberland in western Washington State; and 2,500 acres of real estate held for sale or development. Pope MGP, Inc. serves as the managing general partner of the company. The company was founded in 1985 and is headquartered in Poulsbo, Washington. Yield as of 4/23/2010 1.5% |
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