Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


September 03, 2015 6:10 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Crestwood Equity Partners LP

Company Overview

Crestwood Equity Partners LP provides midstream solutions to customers in the crude oil, natural gas liquids (NGLs), and natural gas sectors of the energy industry in the United States. It operates through three segments: Gathering and Processing; Storage and Transportation; and NGL and Crude Services. The Gathering and Processing segment engages in the gathering, processing, treating, compression, transportation, and sale of natural gas; and the delivery of natural gas liquids to producers in unconventional shale plays and tight-gas plays in West Virginia, Wyoming, Texas, Arkansas, New Mexico, and Louisiana. The Storage and Transportation segment offers natural gas storage and transportatio...

700 Louisiana Street

Suite 2550

Houston, TX 77002

United States

1,374 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: 60
Total Annual Compensation: $1.3M
President of Pipeline Services Group and Chief Operating Officer of The Pipeline Services Group
Age: 41
Total Annual Compensation: $865.7K
President of Supply & Logistics Group and Chief Marketing Officer of The Supply & Logistics Group
Age: 52
Total Annual Compensation: $728.6K
Senior Vice President of Crestwood Equity GP LLC, General Counsel of Crestwood Equity GP LLC and Corporate Secretary of Crestwood Equity GP LLC
Age: 46
Total Annual Compensation: $443.1K
Senior Vice President of Strategy and Corporate Development - Crestwood Equity GP LLC
Age: 35
Total Annual Compensation: $700.0K
Compensation as of Fiscal Year 2014.

Crestwood Equity Partners LP Key Developments

Crestwood Equity Partners LP Reports Unaudited Consolidated Financial and Operating Results for the Second Quarter and Half Year Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2015

Crestwood Equity Partners LP reported unaudited consolidated financial and operating results for the second quarter and half year ended June 30, 2015. For the quarter, revenues were $641.5 million against $926.3 million a year ago. Operating loss was $248.9 million operating income was against $29.4 million a year ago. Loss before income taxes was $296.3 million against $4.6 million a year ago. Net loss attributable to the company was $40.0 million or $0.21 per basic and diluted share against $4.4 million or $0.02 per basic and diluted share a year ago. LBITDA was $169.0 million against EBITDA was $99.2 million a year ago. Adjusted EBITDA was $133.1 million against $117.7 million a year ago. Maintenance capital expenditures were $3.9 million against $5.5 million a year ago. Net cash provided by operating activities was $54.5 million against $45.3 million a year ago. For the six months, revenues were $1,373.0 million against $1,897.9 million a year ago. Operating loss was $200.4 million against operating income was $75.1 million a year ago. Loss before income taxes was $277.8 million against income before income taxes was $9.4 million a year ago. Net loss attributable to the company was $31.7 million or $0.17 per basic and diluted share against net income attributable to the company was $15.2 million or $0.08 per basic and diluted share a year ago. LBITDA was $42.7 million against EBITDA was $211.2 million a year ago. Adjusted EBITDA was $275.0 million against $234.3 million a year ago. Maintenance capital expenditures were $9.3 million against $11.9 million a year ago. Net cash provided by operating activities was $211.1 million against $127.2 million a year ago. For the quarter, total gathering volumes was 1,155.4 MMcf/d against 1,213.2 MMcf/d a year ago. Processing volumes was 215.8 MMcf/d against 190.9 MMcf/d a year ago. Compression volumes was 629.3 MMcf/d against 470.5 MMcf/d a year ago. For the half year, total gathering volumes was 1,191.3 MMcf/d against 1,171.5 MMcf/d a year ago. Processing volumes was 167.1 MMcf/d against 190.1 MMcf/d a year ago. Compression volumes was 660.4 MMcf/d against 459.3 MMcf/d a year ago. For the year 2015, the company expects Combined cost savings efforts year-to-date, recent internal reorganization and simplification merger positions the post-merger Crestwood to deliver on its 2015 consolidated guidance range of Adjusted EBITDA of $540 million to $575 million; Expected pro forma post-merger distribution coverage ratio of 1.05x for 2015. Distributable Cash Flow totaled $15.8 million in the second quarter 2015, a 18% increase compared to $13.4 million in the second quarter 2014.

Crestwood Equity Announces Distribution for the Quarter Ended June 30, 2015, Payable on August 14, 2015

The Board of Directors of Crestwood Equity GP LLC announced that it has declared the partnership's quarterly cash distribution of $0.1375 per limited partner unit ($0.55 annually) for the quarter ended June 30, 2015. The distribution will be paid on August 14, 2015, to unitholders of record as of August 7, 2015.

Crestwood Midstream Partners LP to Report Q2, 2015 Results on Aug 05, 2015

Crestwood Midstream Partners LP announced that they will report Q2, 2015 results at 9:00 AM, US Eastern Standard Time on Aug 05, 2015

Similar Private Companies By Industry

Company Name Region
Caprock Oil & Gas, L.P. United States
Glacial Lakes Energy, LLC United States
El Paso's Eastern Pipeline Group United States
Easton Exploration LP United States
U.S. Enercorp, Ltd. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 6, 2015
Crestwood Midstream Partners LP
Merger/Acquisition
November 24, 2014
Tres Palacios Gas Storage LLC
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Crestwood Equity Partners LP, please visit www.crestwoodlp.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.