General | Capital Markets | Capital Expenditure
Midcoast Expects $50MM Reduction in 2015 Operating Costs
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Midcoast Energy Partners, L.P. announced that its 2015 distributable cash flow is expected to increase by approximately 71 percent compared with the Partnership's 2014 distributable cash flow guidance that was updated October 30, 2014.
Highlights: Forecasts approximately $50 million in operating and administrative cost reductions in 2015 compared to forecasted 2014 expenses. Forecasts adjusted EBITDA at MEP for 2015 between $120 and $135 million; midpoint represents approximate 67 percent increase over forecasted 2014. Forecasts distributable cash flow at MEP for 2015 between $80 and $95 million; midpoint represents approximate 71 percent increase over forecasted 2014. Forecasts adjusted EBITDA at Midcoast Operating, L.P. (MOLP) inclusive of other cash items for 2015 between $255 and…Finish this article — free account or subscription
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