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Enable Midstream's Profits Dip 5.0% in 1Q; Guidance Reaffirmed
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Enable Midstream Partners, LP announced financial results for first quarter 2016. Net income attributable to common and subordinated units was $86 million for first quarter 2016, a decrease of $5 million, or 5 percent, compared to $91 million for first quarter 2015.
Key Points: Enable reaffirms its 2016 expansion capital outlook of $375 million. Business HighlightsIn the Gathering and Processing segment, producers continue to focus on high-returning plays such as the SCOOP and STACK where there are currently 22 rigs drilling wells that are contractually dedicated to Enable's gas gathering and processing systems. The previously announced 200 million cubic feet per day (MMcf/d) Bradley II processing plant located in Grady County, Oklahoma, is scheduled to be in service during the second…
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