Enbridge Energy Partners, L.P. (EEP) has reported its 4Q16 net income and cash that was provided by operating activities as US$80.3 million and US$454.6 million, respectively.
The company has also reported its 4Q16 adjusted EBITDA and distributable cash flow (DCF) of US$468.8 million and US$220.9 million, respectively.
Highlights of the announcement include:
- Full-year Lakehead pipeline system deliveries increased by an average of 11% compared to 2015.
- Full-year net loss and cash provided by operating activities of US$162.4 million and US$1415.7 million, respectively.
- Full-year adjusted EBITDA and DCF of US$1,881.1 million and US$942.8 million, respectively.
- Recently closed acquisition of an effective 27.6% interest in the Bakken pipeline system; anticipated joint funding arrangement with sponsor expected to enhance the partnership's financing flexibility.
As EEP and its sponsor, Enbridge Inc. (Enbridge), have previously announced, a strategic review of EEP is ongoing, with the objectives of improving EEP's financial position and future outlook. The review is expected to continue into 2Q17.
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