HOUSTON, TX–(Marketwired – Jan 28, 2016) – Midcoast Energy Partners, L.P. (
“We have executed a number of actions to strengthen our underlying business and have made significant progress on our strategic initiatives. As previously disclosed, we expect to report strong financial results for full-year 2015 at MEP,” said C. Gregory Harper, president for the Partnership. “Our industry remains in a weak commodity price cycle, which is expected to persist in 2016. Thus, we are maintaining our distribution consistent with the prior quarter to preserve cash flow, strengthen coverage and enhance the Partnership’s financial flexibility.”
Management Review of 2015 Fourth Quarter Financial Results and 2016 Guidance
Midcoast Partners will host a conference call at 8:30 a.m. Eastern Time on Wednesday, February 17, 2016 to review its fourth quarter 2015 earnings and present its 2016 financial outlook. The call will be webcast live over the internet and may be accessed on Midcoast Partners’ website under “Events and Presentations” or directly at http://edge.media-server.com/m/p/47ib7pry.
Presentation slides will also be available at the link below.
MEP Events and Presentations:
A webcast replay and audio replay will be available approximately two hours after the conclusion of the event through March 2, 2016. A transcript will be posted to the website within approximately 24 hours.
Webcast link: http://edge.media-server.com/m/p/47ib7pry
Audio replay by telephone:
Toll-free (855) 859-2056
International (404) 537-3406
About Midcoast Energy Partners, L.P.
Midcoast Energy Partners, L.P. (
Enbridge Energy Partners, L.P. (
Forward Looking Statements
This news release includes forward-looking statements, which are statements that frequently use words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “projection,” “should,” “strategy,” “opportunity,” “target,” “will” and similar words. Although we believe that such forward-looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond the ability of Midcoast Energy Partners, L.P. (the “Partnership”) to control or predict. The Partnership’s forward looking statements are subject to risks and uncertainties pertaining to operating performance, regulatory parameters, project approval and support, weather, economic conditions, interest rates and commodity prices, including but not limited to the following specific factors that could cause actual results to differ from those in the forward-looking statements: (1) changes in the demand for or the supply of, forecast data for, and price trends related to natural gas, natural gas liquids and crude oil and the response by natural gas and crude oil producers to changes in any of these factors; (2) the Partnership’s ability to successfully complete and finance expansion projects; (3) the effects of competition, in particular, by other pipeline and gathering systems, as well as other processing and treating plants; (4) shut-downs or cutbacks at the Partnership’s facilities or refineries, petrochemical plants, utilities or other businesses for which the Partnership transports products or to whom the Partnership sells products; (5) hazards and operating risks that may not be covered fully by insurance; (6) changes in or challenges to the Partnership’s rates; (7) changes in laws or regulations to which the Partnership is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance; and (8) cost overruns and delays on construction projects resulting from numerous factors.
Forward-looking statements regarding “drop-down” opportunities are further qualified by the fact that Enbridge Energy Partners, L.P. is under no obligation to offer to sell us additional interests in Midcoast Operating, L.P., and we are under no obligation to buy any such additional interests. As a result, we do not know when or if any such additional interests will be purchased.
Except to the extent required by law, we assume no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Reference should also be made to the Partnership’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2014 and any subsequently filed Quarterly Report on Form 10-Q for additional factors that may affect results. These filings are available to the public over the Internet at the SEC’s web site (www.sec.gov) and at the Partnership’s web site.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sanjay Lad, CFA
Toll-free: (855) MEP-7222 or (866) 637-7222
Terri Larson, APR
Telephone: (877) 496-8142