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February 6, 2015

Hawaii's largest oil refinery turning to other markets, including South America

Hawaii Independent Energy, the owner of the state’s largest oil refinery, is turning to other markets to keep its business flowing after losing its fuel supply contract with Hawaiian Electric Co. and the impending use of liquefied natural gas for power generation in Hawaii.

Bill Haywood, the former CEO of Hawaii Independent Energy who is now a consultant, told PBN that the business of refining is constantly looking for places to sell its products.

“It really has to do with running a refinery at…

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February 6, 2015

Houston PE firm eyes Permian with new investment

Boston- and Houston-based private equity firm Denham Capital Management LP isn’t slowing down during the oil slump.

The energy PE firm is the “significant majority” owner of the newly formed Atlantic Resources Company LLC, which is focused on oil and gas exploration and production in Texas’ Permian Basin, said Geer Blalock, a Denham director.

Midland-based Atlantic is led by CEO Richard Jennings and President Rodney Woodard, who previously led the company’s predecessor, Atlantic Energy Holdings…

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February 6, 2015

Houston MLP raises $1B in upsized IPO

Columbia Pipeline Partners LP (NYSE: CPPL) raised nearly $1.08 billion by offering more than 46.81 million common units priced at $23 each, above its stated range.

The Houston-based master-limited partnership had planned to offer 40 million units priced between $19 and $21, which would have raised $800 million at the midpoint. Underwriters also have a 30-day option to purchase up to an addition 7.02 million common units, up from the 6 million Columbia Pipeline planned to offer them.

Not only is…

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February 5, 2015

Sprint deal will keep RadioShack brand alive

RadioShack Corporation filed for Chapter 11 bankruptcy reorganization Thursday afternoon and has reached an agreement with its largest shareholder and Sprint to keep many of its stores open under a co-branded “store-within-a-store” model.

RadioShack operates about 4,000 stores, with dozens of retail locations in the Greater Washington region.

Under terms of the agreement with General Wireless Inc. and Sprint, Sprint will operate 1,750 RadioShack locations as Sprint stores, but those stores will…

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February 5, 2015

Hot start: Access National among best bank stocks in January

Reston-based Access National Corporation was among 19 banks nationwide to post major stock exchange gains in January, according to SNL Financial.

The parent of Access National Bank had a 5.56 percent return for the month, fourth-best among banks with average daily trading volume of 10,000 shares for the month and a market cap of at least $50 million. Access National (NASDAQ: ANCX) finished 2014 with a 14.12 percent return, according to SNL.

“We’re thrilled to be on the list,” Access National CEO…

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