logo
Share SHARE
FONT-SIZE Plus   Neg

Western Gas Partners Q4 Limited Partners' Interest In Net Income Drops

Western Gas Partners, LP (WES) Monday reported fourth-quarter net income available to limited partners of $31.5 million or $0.35 per common unit, dropping from $34.0 million or $0.48 per share in the year-ago quarter.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.43 per unit for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $179.6 million from $128.2 million in the year-ago quarter. Seven Street analysts had a consensus revenue estimate of $179.9 million for the quarter.

Total throughput attributable to the Partnership for the fourth quarter averaged 2.0 Bcf/d, 3 percent above the prior quarter and 8 percent above the fourth quarter of 2010.

Western Gas Partners' president and chief executive officer Don Sinclair, said," 2011 was an inflection point for Western Gas. We completed our first major third-party acquisition, increased the size of our committed credit facility to $800 million, successfully launched our first public debt offering, and continued to benefit from our sponsor's tremendous support."

Providing its outlook including the previously announced acquisition of Mountain Gas Resources, LLC effective January 1, 2012, the company expects Adjusted EBITDA for 2012 between $335 million and $365 million, compared with $261.4 million for 2011.

Total capital expenditures (excluding acquisitions) are expected to be between $410 million and $460 million with maintenance capital expenditures expected to be between 8 percent and 11 percent of Adjusted EBITDA. The 2012 capital expenditure forecast includes one expansion project already underway, the completion of a third train at Chipeta Processing, LLC, and two growth projects.

WES closed Monday's regular trade at $45.32, up $0.41 or 0.91%, on the NYSE. In the after-hours, the stock gained $0.19 or 0.42%. Over the past year, the stock traded in a range of $30.75 - 45.88.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT