General

Veresen Announces 2015 Guidance

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Veresen Inc. has announced guidance for 2015 and declared a cash dividend for December 2014.

2015 Guidance

Veresen is forecasting distributable cash in the range of $0.93 to $1.20 per Common Share for 2015. Based on an annualized dividend of $1.00 per Common Share for 2015, the corresponding payout ratio will range between 83 percent and 108 percent.

Don Althoff, President and CEO of Veresen said: "Our 2015 guidance range reflects our expectation of continued solid operating performance from our portfolio of assets, the majority of which are supported by fee-for-service contracts, and the pending sale of our three U.S. gas-fired power plants. Our outlook for Aux Sable's 2015 variable-based earnings is lower than our 2014 forecast as we anticipate that NGL prices will continue to be under pressure due to the oil price environment. Further, distributable cash from Aux Sable in 2014 included gains realized in the first quarter which we do not expect to recur in 2015.

As we look to the year ahead, our strong balance sheet provides us with the financial flexibility to execute our growth strategy and deliver on our key priorities in 2015, including the re-contracting of the Alliance Pipeline, achieving key milestones for Jordan Cove LNG, and expanding our Midstream footprint in western Canada."

For 2014, Veresen maintains its previously announced distributable cash guidance of $1.05 to $1.17 per Common Share.