Capital Markets | Capital Expenditure | Private Equity Activity
JP Energy Partners IDs 2016 Capex; Pipeline Project
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JP Energy Partners LP announced its 2016 financial guidance.
Full year 2016 growth capital expenditures are estimated to range $25-$35 million. Of this amount, $15 million is expected to be driven by the continued development of our Silver Dollar Pipeline system. We expect to maintain adequate liquidity on our revolving credit facility to fund our planned organic spending needs and remain at or below JP Energy’s long-term target of 3.5-4.0x debt to EBITDA through 2016.
Financial guidance for 2016 includes full year Adjusted EBITDA of $50-$56 million and Distributable Cash Flow of $39-$45 million. For the full year 2016, our goal is to achieve total unit distribution coverage of 1.0x, which could include some level of corporate overhead support from our General Partner. Approximately 80%…
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