Crosstex Energy LP (NasdaqGS: XTEX) and Crosstex Energy Inc. (NasdaqGS: XTXI) detailed preliminary financial guidance for EnLink Midstream Partners LP and EnLink Midstream LLC, dependent on the completion of merger and contribution transactions in the first quarter, on Feb. 19.
At EnLink Midstream Partners, expected growth capital expenditures from the second through the fourth quarter are about $300 million, Crosstex said.
Maintenance capex budgets for both EnLink Midstream and EnLink Midstream Partners, for the same time frame, are expected to be $80 million and $50 million, respectively, Crosstex said.
A combined, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of about $525 million is expected from the beginning of the second quarter through the fourth quarter, Crosstex said. EnLink Midstream Partners is expected to contribute $375 million of that amount, the companies added.
EnLink Midstream LLC and EnLink Midstream Partners LP are the publicly traded entities of the new midstream business formed from the merger of assets between between Crosstex and Devon Corp. (NYSE: DVN) in 2013, the companies said.
Devon Energy Corp. is an Oklahoma City-based oil and natural gas E&P company.
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