General | Capital Markets | Capital Expenditure
QEP Midstream Details 2015 Maintenance Capital
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QEP Midstream Partners, LP provided guidance regarding its 2015 expectations for adjusted EBITDA and maintenance capital. The Partnership indicated that, based on its current operating results and outlook, it expects adjusted EBITDA of $27 million to $32 million for each quarter in 2015. The Partnership also expects to expend approximately $10 million in maintenance capital during 2015.
QEPM also confirmed that the Conflicts Committee of its Board of Directors is continuing its process to analyze and consider the previously disclosed non-binding proposal from Tesoro Logistics LP to merge a wholly owned subsidiary of TLLP with the Partnership. The merger, as proposed, would occur in a unit-for-unit exchange at a ratio of 0.2846 TLLP common units for each outstanding common unit of the…
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