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January 14, 2014
07:10 EDTSXESouthcross says South Texas operations had 'continued growth' in Q4
Southcross Energy Partners announced preliminary results of its South Texas operations during 4Q13. Southcross’ South Texas operations experienced continued growth during the 4Q13. Processed gas volumes increased by approximately 13% over 3Q13 volumes and sales volumes of natural gas liquids were approximately 28% greater than 3Q13 volumes. In excess of 99% of finished NGLs produced at Southcross’ two fractionators were sold at “on-spec” prices during the quarter. David Biegler, chairman, president and CEO said, “4Q13 volumes were in line with our expectations. Southcross enters 2014 with solid operational performance and we believe we are well-positioned to focus on expanding our assets in the Eagle Ford shale.”
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December 8, 2014
14:02 EDTSXESouthcross Energy Partners repeats Q4 adjusted EBITDA view $20M- $24M
Southcross Energy Partners expects near term de-leveraging and is targeting 3.0x-4.0x leverage ratio and 1.1x-1.2x distribution coverage with "prudent use of equity" to fund growth. Southcross expects to achieve at least 1.0x coverage of common units in 1Q15 and expects to grow distributions in 2015. The company says its gross operating margin is becoming increasingly fixed fee oriented and it anticipates the ability to grow adjusted EBITDA without significant growth capital. Southcross sees its commodity sensitive margins to decline as a portion of gross operating margin, noting that its recently acquired and new contracts are largely fixed fee margins. Guidance and comments from investor day slides disclosed in a regulatory filing.
07:02 EDTSXESouthcross Energy Partners names John Bonn as president and CEO
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