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Enlink Midstream Partners, Lp (ENLK) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Enlink Midstream Partners, Lp

CIK: 1179060 Ticker: ENLK

Exhibit 99.1

 

 

 

FOR IMMEDIATE RELEASE

May 2, 2017

 

Investor Relations: Kate Walsh, Vice President of Investor Relations, 214-721-9696, kate.walsh@enlink.com

Media Relations: Jill McMillan, Vice President of Public & Industry Affairs, 214-721-9271, jill.mcmillan@enlink.com

 

EnLink Midstream Reports First Quarter 2017 Results, Provides Commercial and Operational Updates

 

DALLAS, May 2, 2017 — The EnLink Midstream companies (EnLink), EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner or ENLC), reported today financial results for the first quarter of 2017 and provided commercial and operational updates.

 

Highlights

 

·                  ENLK reported net income of $13.3 million and net income attributable to ENLK after non-controlling interest of $18.1 million for the quarter ended March 31, 2017. ENLK achieved $207.6 million of adjusted EBITDA net to ENLK for the same period. ENLK also reaffirmed its adjusted EBITDA guidance outlook for the full-year 2017. Adjusted EBITDA is a non-GAAP measure and is explained in greater detail under “Non-GAAP Financial Information.”

·                  ENLC reported net income of $9.3 million and a net loss attributable to ENLC after non-controlling interest of $1.9 million for the quarter ended March 31, 2017. ENLC achieved $51 million of cash available for distribution for the same period.  ENLC also reaffirmed its cash available for distribution guidance outlook for the full-year 2017. Cash available for distribution is a non-GAAP measure and is explained in greater detail under “Non-GAAP Financial Information.”

·                  EnLink successfully executed three large-scale organic growth projects year to date. EnLink commenced operations at the Chisholm II facility in the STACK play, adding 200 million cubic feet per day (MMcf/d) of processing capacity to the Chisholm complex. In the Permian’s Midland Basin, EnLink began full-service operations of the Greater Chickadee crude oil gathering system.  In southeast Louisiana, EnLink expanded its natural gas liquids (NGL) service offerings by commencing operations on the Ascension Pipeline.

·                  EnLink announced commercial success in the core of the Permian’s Midland Basin with the execution of nine new contracts during the first quarter of 2017, of which three are related to the Greater Chickadee crude oil gathering system and six are related to the gas gathering and processing business. The new long-term, fee-based contracts expand and deepen key producer relationships in the Permian and augment EnLink’s development of a regional gas and crude gathering platform.

 

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The following information was filed by Enlink Midstream Partners, Lp (ENLK) on Tuesday, May 2, 2017 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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Inside Enlink Midstream Partners, Lp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Operations (parenthetical)
Consolidated Balance Sheets
Consolidated Statement Of Changes In Partners' Equity - Partners Equity
Consolidated Statement Of Changes In Partners' Equity - Redeemable Non-controlling Interest (temporary Equity)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Operations
Acquisition
Acquisition (tables)
Acquisition - Narrative (details)
Acquisition - Schedule Of Consideration, Assets And Liabilities (details)
Asset Retirement Obligations
Asset Retirement Obligations (details)
Asset Retirement Obligations (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Derivatives
Derivatives (tables)
Derivatives - Assets And Liabilities (details)
Derivatives - Commodities (details)
Derivatives - Components Of Gain (loss) (details)
Employee Incentive Plans
Employee Incentive Plans (tables)
Employee Incentive Plans - Amounts Recognized In Consolidated Financial Statements (details)
Employee Incentive Plans - Restricted And Performance Awards (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Financial Instruments (details)
Fair Value Measurements - Measured On A Recurring Basis (details)
General
General (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Amortization Expense (details)
Goodwill And Intangible Assets - Changes In Carrying Value (details)
Goodwill And Intangible Assets - Narrative (details)
Investment In Unconsolidated Affiliates
Investment In Unconsolidated Affiliates (details)
Investment In Unconsolidated Affiliates (tables)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Narrative (details)
Long-term Debt - Summary (details)
Other Information
Other Information (details)
Other Information (tables)
Partners Capital
Partners Capital (tables)
Partners Capital - Computation Of Basic And Diluted Earnings Per Limited Partner Units (details)
Partners Capital - Narrative And Distribution Activity (details)
Partners Capital - Net Income Allocated To The General Partner (details)
Partners Capital - Unit Amounts Used To Computer Earnings Per Limited Partner Unit (details)
Related Party Transactions
Related Party Transactions (details)
Segment Information
Segment Information (tables)
Segment Information - Financial Information And Assets (details)
Segment Information - Reconciliation (details)
Significant Accounting Policies
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Subsequent Events
Subsequent Events (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: ENLK
CIK: 1179060
Form Type: 10-Q Quarterly Report
Accession Number: 0001179060-17-000006
Submitted to the SEC: Wed May 03 2017 8:33:40 AM EST
Accepted by the SEC: Wed May 03 2017
Period: Friday, March 31, 2017
Industry: Natural Gas Transmission

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