February 19, 2017 8:33 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Crestwood Equity Partners LP

Company Overview

Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering, processing, treating, compression, and transportation services to producers in unconventional shale plays and tight-gas plays in Arkansas, Louisiana, New Mexico, North Dakota, Texas, West Virginia, and Wyoming. The Storage and Transportation segment offers natural gas and crude oil storage and transportation services to producers, utilities, and other customers. This segmen...

700 Louisiana Street

Suite 2550

Houston, TX 77002

United States

Founded in 2001

1,300 Employees

Phone:

832-519-2200

Fax:

832-519-2250

Key Executives for Crestwood Equity Partners LP

Chairman of Crestwood Equity GP LLC, Chief Executive Officer of Crestwood Equity GP LLC and President of Crestwood Equity GP LLC
Age: 61
Total Annual Compensation: $1.3M
Chief Financial Officer of Crestwood Equity Gp LLC and Senior Vice President of Crestwood Equity Gp LLC
Age: 32
Total Annual Compensation: $760.0K
President of Pipeline Services Group and Chief Operating Officer of Pipeline Services Group
Age: 42
Total Annual Compensation: $902.5K
Senior Vice President of Crestwood Equity GP LLC, General Counsel of Crestwood Equity GP LLC and Corporate Secretary of Crestwood Equity GP LLC
Age: 47
Total Annual Compensation: $705.0K
Chief Accounting Officer of Crestwood Equity GP LLC and Senior Vice President of Crestwood Equity GP LLC
Age: 43
Total Annual Compensation: $705.0K
Compensation as of Fiscal Year 2015.

Crestwood Equity Partners LP Key Developments

Crestwood Equity Partners LP Declares Quarterly Cash Distribution for the Quarter Ended December 31, 2016, Payable on February 14, 2017

Crestwood Equity Partners LP announced that the board of directors of its general partner has declared the partnership’s quarterly cash distribution of $0.60 per limited partner unit ($2.40 annually) for the quarter ended December 31, 2016. Distributions will be made on February 14, 2017, to unit holders of record as of February 7, 2017.

Crestwood Equity Partners LP Presents at UBS MLP One-on-One Conference, Jan-09-2017

Crestwood Equity Partners LP Presents at UBS MLP One-on-One Conference, Jan-09-2017 . Venue: St. Regis Deer Valley, 2300 Deer Valley Drive East, Park City, Utah, United States. Speakers: Russ Kovin, Vice President - Business Development, Vince Grisell, Vice-Pres., Capital Markets & Risk, William H. Moore, Senior Vice President of Strategy and Corporate Development - Crestwood Equity GP LLC.

Crestwood Equity Partners LP Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for 2016

Crestwood Equity Partners LP announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenue of $587.6 million against $630.7 million a year ago. Earnings from unconsolidated affiliates, net were $13.4 million against $2.8 million a year ago. Income before income taxes was $3.2 million against loss of $623.7 million a year ago. Net loss attributable to company was $3.1 million or $0.14 per diluted share against $226.9 million or $11.76 per diluted share a year ago. EBITDA was $81.0 million against loss of $509.8 million a year ago. Adjusted EBITDA was $103.5 million against $133.5 million a year ago. Maintenance capital expenditures were $1.1 million against $4.1 million a year ago. Net cash provided by operating activities was $51.5 million against $90.5 million a year ago. For the nine months, the company reported total revenue of $1,725.5 million against $2,003.7 million a year ago. Earnings from unconsolidated affiliates, net were $26.1 million against $11.2 million a year ago. Loss before income taxes was $127.6 million against $901.5 million a year ago. Net loss attributable to company was $145.8 million or $2.35 per diluted share against $258.6 million or $13.68 per diluted share a year ago. EBITDA was $137.3 million against loss of $552.5 million a year ago. Adjusted EBITDA was $330.0 million against $408.5 million a year ago. Maintenance capital expenditures were $8.9 million against $13.4 million a year ago. Net cash provided by operating activities was $244.5 million against $301.6 million a year ago. The company is well-positioned to achieve its 2016 Adjusted EBITDA guidance range of $435 million to $465 million, as its G&P segment has significantly outperformed year-to-date expectations offsetting the decrease in S&T contribution, due to the formation of the Stagecoach Gas Service joint venture with Con Edison in the second quarter, and lower MS&L performance due to seasonal factors.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 21, 2016
Stagecoach Gas Services LLC
 

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