Enbridge Energy Partners Reports Declining Results Despite Record Lakehead Deliveries
Enbridge Energy Partners reported first-quarter adjusted EBITDA of $414 million, a decrease of 11% from the year-ago quarter. Distributable cash flow decreased 19% from the first quarter of 2016 to $198 million. The decline in performance was driven by lower operating results in the liquids and natural gas segments. Lower earnings in the liquids segment stemmed from a decrease in the North Dakota system deliveries and rates, coupled with an increase in operating and administrative expenses, desp...Enbridge Energy Partners owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the U.S. The company's Liquids segment includes the Lakehead, North Dakota and the Mid-Continent crude oil systems. The company's Lakehead system consists of a series of interstate common carrier crude oil and liquid petroleum pipelines, and storage assets. The company's Natural Gas segment consists of natural gas and natural gas liquids (NGL), rail and liquid marketing services, gathering and transportation pipeline systems, natural gas processing and treating facilities and NGL fractionation facilities.
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