4Q16 earnings reported by Enbridge Energy Partners
Published by Anna Nicklin,
Assistant Editor
World Pipelines,
Enbridge Energy Partners, L.P. (EEP) has reported its 4Q16 net income and cash that was provided by operating activities as US$80.3 million and US$454.6 million, respectively.
The company has also reported its 4Q16 adjusted EBITDA and distributable cash flow (DCF) of US$468.8 million and US$220.9 million, respectively.
Highlights of the announcement include:
- Full-year Lakehead pipeline system deliveries increased by an average of 11% compared to 2015.
- Full-year net loss and cash provided by operating activities of US$162.4 million and US$1415.7 million, respectively.
- Full-year adjusted EBITDA and DCF of US$1,881.1 million and US$942.8 million, respectively.
- Recently closed acquisition of an effective 27.6% interest in the Bakken pipeline system; anticipated joint funding arrangement with sponsor expected to enhance the partnership's financing flexibility.
As EEP and its sponsor, Enbridge Inc. (Enbridge), have previously announced, a strategic review of EEP is ongoing, with the objectives of improving EEP's financial position and future outlook. The review is expected to continue into 2Q17.
Read the full report here.
Read the article online at: https://www.worldpipelines.com/business-news/17022017/4q16-earnings-reported-by-enbridge-energy-partners/
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