October 31, 2016
Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") announced that the board of directors of the delegate of the Partnership's general partner has declared a quarterly cash distribution of $0.583 per unit, or $2.332 per unit on an annualized basis, on all of the Partnership's outstanding units for the quarter ended September 30, 2016.
THIRD QUARTER HIGHLIGHTS
• Reports third quarter net loss and cash provided by operating activities of $406.4 million and $414.6 million, respectively.
• Reports third quarter adjusted EBITDA and distributable cash flow of $456.8 million and $214.7 million, respectively.(1)
• Announced agreement to acquire an equity interest in the Bakken Pipeline System and announced tentative joint funding arrangement with general partner.
"The Partnership’s core liquids pipelines business continues to perform well, deliveries on our Lakehead System have strengthened following the wildfires that impacted crude oil production in northeastern Alberta in May. With seasonal refinery turnarounds largely complete, deliveries are expected to remain strong through the end of the year with our heavy crude oil lines continuing to be oversubscribed."
The Partnership is on track to achieve near the top-end of its previously communicated full-year 2016 adjusted EBITDA and distributable cash flow guidance of $1.8 - $1.9 billion and $860 - $920 million, respectively.