Midstream - Pipelines | Finance & Investing | Capital Markets | Capital Expenditure
ETP Cuts $750 Million from 2016 Capital Budget
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Energy Transfer Partners, L.P. announced its quarterly distribution for the fourth quarter ended December 31, 2015, and updates to its 2016 capital expenditures and funding requirements.
2016 Capital Expenditure UpdateETP has identified approximately $750 million of 2016 growth capital expenditures that can be reduced in 2016. As of today, ETP’s current growth capital funding estimates for 2016 are $4.2 billion, compared to $4.95 billion that ETP projected at its November 17, 2015, Analyst Day meetings.
In addition, ETP is evaluating project financing of the Bakken Pipeline. This measure would materially reduce the direct spending required for this project and would substantially further reduce ETP's and Sunoco Logistics Partners’ 2016 growth capital funding requirements.
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