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February 19, 2014
11:33 EDTDVN, XTXI, XTEXCrosstex provides preliminary 2014 guidance for EnLink Midstream
Crosstex Energy, LP (XTEX) and Crosstex Energy, Inc. (XTXI) provided preliminary 2014 financial guidance for EnLink Midstream Partners, LP and EnLink Midstream, LLC, assuming the completion of the previously announced merger and contribution transactions in Q1. The projections provided herein include financial synergies. EnLink Midstream expects combined adjusted EBITDA of approximately $525M from the beginning of Q2 through Q4 with EnLink Midstream Partners, LP contributing approximately $375M of that adjusted EBITDA. On an annualized basis, these forecasts equate to approximately $700M of combined adjusted EBITDA at EnLink Midstream, including approximately $500M at EnLink Midstream Partners, LP. Projected distributions for fiscal year 2014 are expected to be approximately $1.47 per common unit at EnLink Midstream Partners, LP and approximately 80c per common unit at EnLink Midstream, LLC. The payment and amount of distributions will be subject to approval by the respective EnLink Midstream Boards of Directors and to economic conditions and other factors existing at the time of the determination of each quarterly distribution. Expected growth capital expenditures at EnLink Midstream Partners, LP in Q2-Q4 are approximately $300M. Expected maintenance capital expenditures in Q2-Q4 will be approximately $80M at EnLink Midstream and approximately $50M at EnLink Midstream Partners, LP.
News For XTEX;XTXI;DVN From The Last 14 Days
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February 23, 2015
07:37 EDTDVNCredit Suisse to hold a summit
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February 18, 2015
08:39 EDTDVNDevon Energy price target raised to $80 from $65 at BMO Capital
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February 17, 2015
17:13 EDTDVNPoint72 gives quarterly update on stakes
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16:25 EDTDVNDevon Energy sees Q1 production 650-673 MBoe/d
Sees 2015 production 637-662 MBoe/d.
16:23 EDTDVNDevon Energy sees 2015 oil production growth 20%-25%
Devonís 2015 E&P capital budget is $4.1B-$4.4B. This level of investment implies around a 20% decline in E&P spending compared to 2014 and is designed to better balance capital expenditures with expected cash inflows, it stated. It added, "Even with reduced E&P capital investment in 2015, the companyís production growth outlook remains unchanged. With significant improvements in completion design and a capital program focused on development drilling, Devon expects to deliver oil production growth of 20 to 25 percent year over year on a retained property basis. This production outlook is driven by balanced oil growth in both the U.S. and Canada."
16:22 EDTDVNDevon Energy reports Q4 core EPS 84c, consensus $1.05
Reports Q4 revenue $6.0B, consensus $4.11B. Production from Devonís retained assets averaged 664,000 oil-equivalent barrels per day during Q4. Devon also delivered record oil production of 239,000 barrels per day in Q4.
15:32 EDTDVNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Devon Energy (DVN), consensus $1.05... Vornado Realty (VNO), consensus $1.23... Analog Devices (ADI), consensus 61c... FirstEnergy (FE), consensus 75c... CF Industries (CF), consensus $5.08... Agilent Technologies (A), consensus 41c... Cimarex Energy (XEC), consensus 82c... Flowserve (FLS), consensus $1.13... Fossil (FOSL), consensus $3.07... Rackspace (RAX), consensus 19c... Norwegian Cruise Line (NCLH), consensus 37c... Jack in the Box (JACK), consensus 87c... Cloud Peak Energy (CLD), consensus 7c... La-Z-Boy (LZB), consensus 38c... KAR Auction Services (KAR), consensus 29c... Owens & Minor (OMI), consensus 50c... Valmont Industries (VMI), consensus $1.65... Realty Income (O), consensus 66c.
14:47 EDTDVNDevon Energy volatility elevated into Q4 and outlook
Devon Energy February call option implied volatility is at 51, March and April is at 33; compared to its 26-week average of 30 according to Track Data, suggesting large near term price movement into the expected release of Q4 result on February 18.

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