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4Q16 earnings reported by Enbridge Energy Partners

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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.

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