Targa Resources Partners LP Provides Outlook; Protected by Hedges
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Targa Resources Partners LP has reported that, given the recent decline in the commodity price environment, it is providing the following outlook regarding expected distribution coverage.
The Partnership currently expects distribution coverage in excess of 1.0x on an annual basis for 2012 and 2013, assuming current commodity prices of $2.50 per MMBtu for natural gas, $80 per barrel for crude oil and $0.75 per gallon for NGLs. Distribution coverage in any quarter may be above or below the annual level because of planned and unplanned interruptions and other factors, but is currently expected to exceed 1.0x on an annual basis. While there is no assurance that we will continue to have increases in distributions and each quarterly distribution declaration is subject to board approval, the…
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