And a huge beat on revenues: $11.1B vs. $9.6B est.
Makes for a nice headline, but the most important stat is 16% YOY increase in sustainable DCF. That is after backing out $190M in one-time asset sales - it's a 49% increase if you use the headline DCF of $856M.
In summary, we are trading in the same range as we were last year this time but fundamentally much stronger with a 5% higher distribution and a 16% higher sustainable DCF.
best i can tell, looks like the wrangler will be the only game in town w/ keystone delay... should prove to be a nice positive for epd and eep... anything i'm missing w/ keystone delay and how it will play on wrangler... looks all positive to me... anyone?
Several news stories regarding the delay of the Keystone XL pipeline proposal from Canada through the Mid-USA. The decision will be delayed until after next year's election. This could have a significant impact on the proposed Wrangler pipeline, a joint venture with Enbridge and Enterprise. BT
Just saw the deal. Seems like a good incremental addition. I just saw an analyst on TV saying Marcellus has a significant production cost advantage over Haynesville. If so, this should be a great investment.