Welcome to our dedicated page for Crestwood Equity Partners Lp news (Ticker: CEQP), a resource for investors and traders seeking the latest updates and insights on Crestwood Equity Partners Lp stock.
Crestwood Equity Partners LP (NYSE: CEQP) delivers essential midstream energy services through strategically located assets across major U.S. shale regions. This dedicated news hub provides investors and industry professionals with timely updates on CEQP's operational developments, financial performance, and strategic initiatives.
Access official press releases and curated news coverage spanning key business areas: Gathering & Processing infrastructure expansions, Storage & Transportation network enhancements, and Marketing & Logistics solutions. Track updates on capital projects, partnership agreements, and sustainability initiatives that shape CEQP's position in the energy value chain.
Our news collection serves as your primary source for monitoring CEQP's growth across the Marcellus, Bakken, and Permian Basin operations. Stay informed about dividend announcements, regulatory filings, and management insights without promotional bias.
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Crestwood Equity Partners LP (NYSE: CEQP) has declared a quarterly cash distribution of
Crestwood Equity Partners LP (NYSE: CEQP) has announced several key promotions in its management team. Robert Halpin has been appointed President and CFO, responsible for all major activities within the company. Diaco Aviki is now Executive VP and COO, focusing on commercial and operational aspects. Joanne Howard has been promoted to Senior VP of Sustainability and Corporate Communications. These changes aim to enhance leadership and align commercial, operational, and financial functions, reflecting the company's optimistic outlook following strategic moves in 2021.
Crestwood Equity Partners LP (NYSE: CEQP) has announced a definitive merger agreement to acquire Oasis Midstream Partners LP (NASDAQ: OMP) for approximately
Oasis Midstream Partners LP (OMP) announced a quarterly cash distribution of $0.56 per unit for Q3 2021, payable on November 29, 2021. In a significant development, OMP has entered into a definitive merger agreement with Crestwood Equity Partners LP (CEQP) for an estimated $1.8 billion equity and cash transaction, including debt assumption. The deal is projected to close in Q1 2022, pending regulatory and unitholder approvals. As of September 30, 2021, OMP reported $29.7 million in cash and $210 million in borrowings, with a $234.5 million unused borrowing capacity.
Crestwood Equity Partners LP (NYSE: CEQP) announced a quarterly cash distribution of
Crestwood Equity Partners LP (NYSE: CEQP) reported a net loss of $38.1 million for Q2 2021, widening from $24.3 million in Q2 2020. However, Adjusted EBITDA rose 14% to $145.7 million and distributable cash flow increased 15% to $85.8 million. The company announced a cash distribution of $0.625 per unit, payable on August 13, 2021. Following the $1.195 billion Stagecoach divestiture, Crestwood reduced its debt to approximately $2.1 billion and improved its leverage ratio to 3.6x. Revised guidance for 2021 predicts Adjusted EBITDA of $570-$600 million and free cash flow of $150-$180 million.
Crestwood Equity Partners LP (NYSE: CEQP) announced a quarterly cash distribution of $0.625 per limited partner unit, maintaining a flat rate quarter over quarter. Additionally, a distribution of $0.2111 per Class A preferred equity unit was declared, both payable on August 13, 2021. Crestwood plans to report its second-quarter financial results on July 27, 2021, followed by a conference call for investors at 9:00 a.m. ET to discuss results and strategies.
Crestwood Equity Partners LP (NYSE: CEQP) and Consolidated Edison, Inc. (NYSE: ED) announced the divestiture of Stagecoach Gas Services LLC's subsidiaries, except Twin Tier Pipeline LLC, to Kinder Morgan, Inc. for $1.195 billion. Crestwood and Con Edison, each holding a 50% stake, will share cash proceeds. The remaining transaction for Twin Tier Pipeline LLC, valued at $30 million, awaits New York state regulatory approval and is projected to close in Q1 2022. Stagecoach includes significant natural gas storage and pipeline facilities that support Northeast US demand.
Crestwood Equity Partners LP (NYSE: CEQP) and Consolidated Edison, Inc. (NYSE: ED) announced the sale of Stagecoach Gas Services LLC to Kinder Morgan, Inc. (NYSE: KMI) for $1.225 billion. Proceeds will be split evenly, enhancing Crestwood's financial flexibility and targeting a leverage ratio of 3.50x to 3.75x by year-end 2021. This divestiture involves a significant portion of Stagecoach valued at $1.195 billion and includes vital gas storage and pipeline assets in New York and Pennsylvania, providing substantial throughput and storage capacity.
