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Crestwood: Marcellus Driving Majority of Growth Projects
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Crestwood Midstream Partners LP has reported its unaudited financial results for the three months ended March 31, 2013.
First Quarter 2013 Highlights: Adjusted earnings before interest, taxes, depreciation, amortization and accretion (Adjusted EBITDA) was $38.8 million for the first quarter 2013, 8% higher than fourth quarter 2012, and 37% higher than first quarter 2012; First quarter 2013 performance was consistent with internal expectations and supports our full year 2013 Adjusted EBITDA guidance in the range of $170 million to $185 million. Importantly, Crestwood's Adjusted EBITDA is on track to increase, on a quarterly basis, throughout 2013 as new Marcellus Shale gathering and compression projects are placed in service; Adjusted distributable cash flow was $28.3 million for the…- ✓ Full news archive — U.S., Canada & international coverage
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