Full Year 2012 Highlights
- White Cliffs Pipeline volumes increased 65%;
- Rose Rock Midstream transportation and marketing volumes increased 53% and 63%, respectively; and
- Increased Cushing storage capacity by 39%.
Adjusted EBITDA for the year ended December 31, 2012, totaled $135.0 million, up 17% from $115.5 million for the year ended December 31, 2011. For the year ended December 31, 2012, SemGroup reported revenues of $1.2 billion with a net income attributable to SemGroup of $22.1 million, or $0.52 per diluted share, compared to revenues of $1.5 billion with a net income attributable to SemGroup of $2.4 million, or a net loss of $0.06 per diluted share, for the year ended December 31, 2011.
2013 Adjusted EBITDA and Capex Guidance
SemGroup anticipates 2013 consolidated Adjusted EBITDA of $165 million to $175 million, an increase of approximately 25% over 2012 results of $135.0 million. The company also expects to deploy $400 million in capital investments in 2013, with more than 90% allocated to growth projects.Recent Developments
- On December 31, 2012, SemGroup closed on the sale of SemStream Arizona Propane assets to J.P. Energy Partners, L.P.;
- On January 9, 2013, SemGroup announced plans to pay a quarterly cash dividend to common shareholders beginning in the second quarter of 2013; and
- On January 11, 2013, SemGroup's Master Limited Partnership, Rose Rock Midstream, acquired a 33.3% interest in SemCrude Pipeline, L.L.C., which owns 51% of White Cliffs Pipeline L.L.C., for $273.9 million.