Tesoro Logistics reported first-quarter results in line with consensus expectations and slightly ahead of our estimates. The partnership produced $213 million of adjusted EBITDA in the quarter. As we have seen with its peers in the midstream space, terminalling assets outperformed in the first quarter as doggedly high crude and refined product inventory levels benefited those with assets in position to store hydrocarbons. Tesoro Logistics' terminalling and transportation segment generated operat...
Tesoro Logistics reported first-quarter results in line with consensus expectations and slightly ahead of our estimates. The partnership produced $213 million of adjusted EBITDA in the quarter. As we have seen with its peers in the midstream space, terminalling assets outperformed in the first quarter as doggedly high crude and refined product inventory levels benefited those with assets in position to store hydrocarbons. Tesoro Logistics' terminalling and transportation segment generated operat...
Tesoro Logistics Partners reported fourth-quarter and 2016 results that fell slightly short of expectations. The Partnership’s $696 million EBITDA in 2016 lagged the consensus view of $725 million. Much of the weakness in the quarter stemmed from lower volumes of natural gas and natural gas liquids in the Partnership’s gathering and processing systems, with volumes falling 21% and 13%, respectively, in the fourth quarter. Management highlighted the continued weakness in commodity prices as a...
Tesoro Logistics Partners reported fourth-quarter and 2016 results that fell slightly short of expectations. The Partnership’s $696 million EBITDA in 2016 lagged the consensus view of $725 million. Much of the weakness in the quarter stemmed from lower volumes of natural gas and natural gas liquids in the Partnership’s gathering and processing systems, with volumes falling 21% and 13%, respectively, in the fourth quarter. Management highlighted the continued weakness in commodity prices as a...
Tesoro Logistics reported a third-quarter miss versus consensus expectations and guided down full-year EBITDA expectations. We attribute the miss to lower NGL processing volumes (12% below guidance) as the frac spread remained weak in the third quarter following surprising strength in the second quarter. We expect units to react negatively to the release. Management remains focused on its growth plan, and integration of the potential acquisition of the Northern California Terminalling and Storag...
Crude markets have tightened a good deal in recent months, as strong oil demand growth and supply issues have pulled forward the industry recovery by about a year compared with the outlook we published in April. Even so, 2017 fundamentals are far from robust from an oil price perspective and don't appear supportive of prices moving much above the $50 per barrel threshold. Another large uptick in rig additions in the U.S. could be enough to eliminate near-term inventory draws altogether, which is...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.