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Last $14.58 USD
Change Today -0.04 / -0.27%
Volume 412.9K
CMLP On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

crestwood midstream partners (CMLP) Snapshot

Open
$14.58
Previous Close
$14.62
Day High
$14.74
Day Low
$14.45
52 Week High
07/24/14 - $24.25
52 Week Low
02/23/15 - $13.03
Market Cap
2.7B
Average Volume 10 Days
491.9K
EPS TTM
$-0.11
Shares Outstanding
188.4M
EX-Date
02/4/15
P/E TM
--
Dividend
$1.64
Dividend Yield
11.23%
Current Stock Chart for CRESTWOOD MIDSTREAM PARTNERS (CMLP)

crestwood midstream partners (CMLP) Related Businessweek News

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crestwood midstream partners (CMLP) Details

Crestwood Midstream Partners LP provides gathering, processing, storage, and transportation solutions to customers in the crude oil, natural gas liquids (NGL), and natural gas sectors of the energy industry in the United States. The company operates through three segments: Gathering and Processing, Storage and Transportation, and NGL and Crude Services. The Gathering and Processing segment provides natural gas gathering, processing, treating, compression, transportation, sale, and delivery services of NGLs to producers in unconventional shale plays and tight-gas plays in West Virginia, Wyoming, Texas, Arkansas, New Mexico, and Louisiana. This segment owns and controls natural gas facilities with approximately 2.5 billion cubic feet of natural gas/per day (Bcf/d) of gathering capacity; 481 million cubic feet of natural gas/per day of processing capacity; 1.1 Bcf/d of firm transmission capacity; and 41 Bcf of certified working gas storage capacity. The Storage and Transportation segment offers regulated natural gas storage and transportation services to producers, utilities, marketers, and other customers. It primarily includes natural gas storage and natural gas transmission facilities in New York and Pennsylvania. This segment’s facilities provide 41 Bcf of storage capacity and approximately 1.0 Bcf/d of transportation capacity. The NGL and Crude Services segment provides NGLs and crude oil gathering, storage, marketing, and transportation services to customers in or near unconventional shale plays in North Dakota and New York. It operates crude oil gathering systems and rail terminals, as well as NGL storage facilities; and offers integrated supply and logistics solutions. This segment owns natural gas liquids facilities with approximately 1.7 million barrels of storage capacity. Crestwood Midstream Partners LP is headquartered in Houston, Texas.

130 Employees
Last Reported Date: 03/2/15

crestwood midstream partners (CMLP) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

crestwood midstream partners (CMLP) Key Developments

Crestwood Midstream Partners LP and Crestwood Midstream Finance Corp. Issue $700.0 Million Aggregate Principal Amount of 6.25% Senior Notes Due 2023

On March 23, 2015, Crestwood Midstream Partners LP and Crestwood Midstream Finance Corp. issued $700.0 million aggregate principal amount of their 6.25% senior notes due 2023, which will mature on April 1, 2023, pursuant to an Indenture, dated as of March 23, 2015, among the Issuers, the guarantors party thereto and U.S. Bank National Association, as trustee. Interest on the notes will be payable in cash on April 1 and October 1 of each year, beginning on October 1, 2015. Interest on the notes will accrue from March 23, 2015. The Partnership intends to use the net proceeds from the issuance of the notes to fund the redemption of the Issuers’ outstanding 7.75% senior notes due 2019 and to pay down outstanding borrowings under the Partnership’s revolving credit facility.

Crestwood Midstream Partners LP Announces Offering of $700 Million Senior Notes Due 2023 under Rule 144A

Crestwood Midstream Partners LP announced its intention, subject to market and other conditions, to offer $700 million in aggregate principal amount of unsecured Senior Notes due 2023 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The Notes will be guaranteed on a senior unsecured basis by Crestwood Midstream's existing and future subsidiaries that guarantee the company's other series of Senior Notes outstanding and its revolving credit facility. Crestwood Midstream expects to use the net proceeds from this offering to fund the redemption of all outstanding 7.75% Senior Notes due 2019, to pay down borrowings outstanding under its revolving credit facility, and for general partnership purposes. In connection with this offering, Crestwood Midstream has notified the trustee of the 7.75% Senior Notes of Crestwood Midstream's election to redeem all of the 7.75% Senior Notes outstanding on April 8, 2015, subject to completion of the Notes offering. The Notes and the related guarantees will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

Crestwood Midstream Partners LP Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

Crestwood Midstream Partners LP announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, revenues were $614.4 million, operating loss was $34.5 million, loss before income taxes was $60.5 million and net loss attributable to company was $65.9 million or $0.43 per diluted share against revenues were $366.0 million, operating loss was $14.9 million, loss before income taxes was $42.6 million and net loss attributable to company was $45.3 million or $0.50 per diluted share for the same period a year ago. Net loss was $60.4 million against $42.3 million a year ago. EBITDA was $26.6 million against $33.7 million a year ago. Adjusted EBITDA was $117.7 million against $90.9 million a year ago. Adjusted distributable cash flow attributable to CMLP was $89.1 million against $64.3 million a year ago. Net cash provided by operating activities was $147.1 million against $56 million a year ago. For the full year, revenues were $2,565.5 million, operating income was $90.9 million, loss before income taxes was $21.2 million and net loss attributable to partners was $55.9 million or $0.46 per diluted share against revenues were $658.6 million, operating income was $57.1 million, loss before income taxes was $14.4 million and net loss attributable to company was $20.0 million or $0.82 per diluted share for the same period a year ago. Net loss was $21.9 million against $15.1 million a year ago. EBITDA was $311.9 million against $178.7 million a year ago. Adjusted EBITDA was $442.5 million against $261.9 million a year ago. Adjusted distributable cash flow attributable to CMLP was $328.1 million against $189.0 million a year ago. Total capital expenditures, joint venture contributions, and acquisitions were approximately $535 million. Total debt was $2,013.5 million. Net cash provided by operating activities was $322.9 million against $186.5 million a year ago. For the fourth quarter 2014, the company provided gathering system resulting in average gathering volumes of 629 MMcf/d. Fourth quarter 2014 compression volumes averaged 658 MMcf/d, 89% higher than the fourth quarter 2013, due to the completion of numerous compression station projects for Antero in 2014. Fourth quarter 2014 gathering volumes were 36% above the fourth quarter 2013, but 3% lower than the third quarter 2014 largely due to a slowdown in Antero completion activity and downstream processing and take away capacity constraints. Total gathering volumes were 1,251.1 MMcf/d against 1,086.0 MMcf/d a year ago. Processing volumes were 189.5 MMcf/d against 198.1 MMcf/d a year ago. Compression volumes was 657.7 MMcf/d against 347.3 MMcf/d a year ago For the year, the company reported total gathering volumes were 1,214.3 MMcf/d against 1,044.8 MMcf/d a year ago. Processing volumes were 189.5 MMcf/d against 210.2 MMcf/d a year ago. Compression volumes was 542.3 MMcf/d against 295.5 MMcf/d a year ago For 2015, the company expects net income in the range of $73 million to $113 million, depreciation, amortization and accretion to be in the range of $240 million to $250 million. Adjusted EBITDA will be in the range of $480 million to $510 million. Maintenance capital expenditure will be in the range of $22 million to $25 million. Distributable cash flow attributable to CMLP will be in the range of $335 million to $365 million. Cash interest expense is to be $118 million. For the fourth quarter of 2014, the company reported $48.8 million of goodwill impairment.

 

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CMLP

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Valuation CMLP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.9x
Price/Book 1.3x
Price/Cash Flow 7.6x
TEV/Sales NM Not Meaningful
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