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|N e w s R e l e a s e|
|CRESTWOOD MIDSTREAM PARTNERS LP|
|700 Louisiana Street, Suite 2060|
|Houston, TX 77002|
Crestwood Announces Second Quarter 2012 Results and
Confirms Schedule to Close Acquisition of Assets
from Devon Energy Corporation
HOUSTON, TEXAS, August 6, 2012 Crestwood Midstream Partners LP (NYSE: CMLP) (Crestwood or the Partnership) reported today its second quarter 2012 financial results and confirmed that the acquisition of gathering and processing assets from certain subsidiaries of Devon Energy Corporation (Devon) is expected to be completed in the third quarter 2012 as previously announced.
Second Quarter Summary Results
|Three Months Ended||Six Months Ended|
|June 30,||June 30,|
|(in thousands, except as noted)||2012||2011||2012||2011|
Net income, adjusted
Net income per limited partner unit (diluted basis)
Adjusted net income per limited partner unit (diluted basis)
Weighted average number of limited partner units outstanding (diluted basis)
Adjusted distributable cash flow
Volumes gathered (MMcf) (1)
Volumes processed (MMcf)
Volumes gathered include only Crestwoods 100% owned systems. Volumes attributable to Crestwood Marcellus Midstream LLC (CMM) are described below and in Segment Performance.
Crestwoods adjusted earnings before interest, taxes, depreciation, amortization and accretion (Adjusted EBITDA) for the second quarter and six months ended June 30, 2012, was $28.5 million and $56.9 million, compared to $29.8 million and $50.4 million, respectively, for the same periods in 2011. Second quarter 2012 performance was approximately flat with first quarter 2012 Adjusted EBITDA of $28.4 million. Crestwoods total 100% owned gathering
The following information was filed by Crestwood Midstream Partners Lp (CMLP) on Monday, August 6, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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