November 26, 2014 10:41 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Inergy Midstream, L.P.

Company Overview

As of October 7, 2013, Inergy Midstream, L.P. was acquired by Crestwood Midstream, L.P., in a reverse merger transaction. Crestwood Midstream Partners, L.P. owns and operates midstream assets in the United States. It operates through Gathering & Processing, Gas Storage & Transportation, and NGL & Crude Services segments. The company gathers, compresses, treats, processes, stores, and transports natural gas through pipelines. It is also involved in the natural gas liquids storage, logistics, and marketing activities; and crude oil terminalling activities. The company serves producers and users of hydrocarbons in shale plays, including the Marcellus Shale, Bakken Shale, Eagle Ford Shale, Permi...

700 Louisiana Street

Suite 2060

Houston, TX 77002

United States

Founded in 2004

Phone:

832-519-2200

Fax:

832-519-2250

Key Executives for Inergy Midstream, L.P.

Inergy Midstream, L.P. does not have any Key Executives recorded.

Inergy Midstream, L.P. Key Developments

Inergy Midstream, L.P. Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Inergy Midstream, L.P. announced unaudited standalone earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total operating revenues of $69.0 million against $47.5 million a year ago. Operating income was $7.6 million against $14.8 million a year ago. Loss before income taxes was $0.9 million against income before income taxes of $13.7 million a year ago. Net loss was $1.0 million against net income of $13.7 million unit a year ago. Net loss available to partners was $1.0 million compared to net income available to partners $13.7 million a year ago. EBITDA was $32.8 million compared to $27.8 million a year ago. Adjusted EBITDA was $45.9 million compared to $31.3 million a year ago. Adjusted distributable cash flow was $38.7 million compared to $29.3 million a year ago. Net cash provided by operating activities was $39.1 million compared to $27.4 million a year ago. For the nine months, the company reported total operating revenues of $203.3 million against $143.0 million a year ago. Operating income was $28.5 million against $49.9 million a year ago. Income before income taxes was $1.3 million against $48.1 million a year ago. Net income was $1.2 million against $48.1 million unit a year ago. Net income attributable to the company was $1.2 million compared to $43.5 million a year ago. EBITDA was $104.8 million compared to $88.4 million a year ago. Adjusted EBITDA was $136.2 million compared to $94.7 million a year ago. Adjusted distributable cash flow was $110.6 million compared to $84.0 million a year ago. Net cash provided by operating activities was $106.6 million compared to $100.8 million a year ago. Capital expenditures totaled approximately $74 million.

Crestwood Midstream Partners LP Declares Quarterly Cash Distribution Payable on November 14, 2013

Crestwood Midstream Partners LP's general partner Crestwood Midstream GP LLC's board of directors authorized the company's quarterly cash distribution of USD 0.405 per limited partner unit, equivalent to an annual rate of USD 1.62 per unit. The sixth consecutive distribution increase will be paid on November 14, 2013, to unit holders of record as of November 7, 2013.

Crestwood Midstream Partners Prices $600 Million Private Placement of Senior Notes

Crestwood Midstream Partners LP has priced a private placement of $600 million aggregate principal amount of its 6.125% senior notes due 2022. The notes will be guaranteed on a senior unsecured basis by certain of Crestwood Midstream's current and future domestic subsidiaries. The offering is expected to closes on October 23, 2013. Crestwood Midstream intends to use the proceeds from the offering to fund a portion of the consideration payable by it in connection with its contemplated acquisition of Arrow Midstream Holdings, LLC and to pay down outstanding borrowings under its revolving credit facility.

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