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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:33 EDTXTXI, XTEX, DVNCrosstex 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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March 23, 2015
18:08 EDTDVNEnLink Midstream to acquire Victoria Express assets from Devon Energy
EnLink Midstream Partners (ENLK) announced that it has entered into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation (DVN). Total consideration for the transaction is approximately $210M-$220M, including approximately $171M in cash, approximately 338,000 of the Partnership’s common units and EnLink’s assumption of approximately $30M-$40M in certain construction costs to expand the system to full capacity, subject to adjustments. The transaction, which is expected to close on or about April 1, subject to the satisfaction of certain conditions, is expected to be immediately accretive to the Partnership.

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