July 29, 2013
Enbridge Energy Partners today declared a cash distribution of $0.5435 per unit payable November 14, 2013 to unitholders of record on November 7, 2013.
"We expect the Partnership's performance to strengthen as we begin to realize the benefits of our liquids and natural gas growth projects entering service and as the backdrop of natural gas and NGL prices improve."
Senior VP & President, EEP
We are pleased with the improving deliveries on all our liquids pipelines systems during the quarter. We expect the Partnership's performance to strengthen as we begin to realize the benefits of our liquids and natural gas growth projects entering service and as the backdrop of natural gas and NGL prices improve," said Mark Maki, president of the Partnership.
"The long-term outlook for the Partnership remains strong as our multi-billion organic growth program will deliver long-term, low risk secured cash flow growth. Project construction is proceeding on schedule and we expect our distribution coverage to improve as these projects enter service, driving distributable cash flow growth. During the quarter, we continued to make meaningful progress around both project execution and on our financing initiatives. In our liquids business, we are on target to deliver the remaining components of the first phase of our Eastern Access projects over the next couple of quarters. In our natural gas business, our 150 million cubic feet per day Ajax cryogenic natural gas processing plant situated in the Granite Wash region commenced limited service during the quarter and will ramp-up further with the imminent start-up of the Texas Express NGL pipeline, which will provide much needed NGL takeaway capacity to the premium NGL hub at Mont Belvieu, Texas. We are working through an important transitional period for the Partnership and we are focused on delivering sustainable value and growth over the long-term to our unitholders," added Maki.
Enbridge Energy Partners Declares Distribution and Reports Earnings for Third Quarter 2013
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