Enbridge Energy Partners LP reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported operating revenue of $1,693.0 million compared to $1,819.5 million for the same prior year period ago. Operating income was $2.4 million compared to $197.7 million for the same prior year period ago. Loss before income tax expense was $65.9 million compared to income before income tax expense of $114.1 million for the same prior year period ago. Net loss attributable to company was $83.3 million or $0.36 per share compared to net income attributable to company of $99.0 million or $0.25 per share for the same prior year period ago. Adjusted operating income was $180.7 million compared to $207.9 million for the same prior year period ago. Adjusted EBITDA was $281.0 million compared to $291.5 million for the same prior year period ago. Adjusted net income was $95.7 million compared to $109.2 million for the same prior year period ago, primarily due to higher revenues from its liquids pipeline systems, which were more than offset by the impact of lower natural gas liquids ('NGL') prices in natural gas business. Adjusted net income per unit was $0.21 compared to $0.28 for the same prior year period ago. Net cash provided by operating activities was $205.9 million as compared to $257.5 million for the same period last year. The company declared a cash distribution of $0.5435 per unit payable May 15, 2013 to unit holders of record on May 8, 2013. The company reduced 2013 capital expenditure forecast by $125 million to $2.16 billion.

Enbridge Energy Partners LP announced that the company plans to construct a 150 million cubic feet per day (MMcf/d) cryogenic natural gas processing plant near Beckville in Panola County, Texas. The addition of the Beckville plant will expand the Partnership's processing capacity to approximately 820 MMcf/d in the Cotton Valley and Haynesville shale regions. The cost of the East Texas Beckville Plant Project is estimated at $140 million. The plant, to be located in the heart of the productive rich gas Cotton Valley Play, will interconnect with existing natural gas liquids (NGL) infrastructure in the area. Construction of the East Texas Beckville Plant and associated facilities is anticipated to begin in late 2013, with in-service by early 2015.

Enbridge Energy Partners LP, Q1 2013 Earnings Call, May 01, 2013