This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Southcross Energy Partners, L.P. Reports Fourth Quarter And Full Year 2012 Financial And Operating Results And Provides Updated 2013 Guidance

Southcross Energy Partners, L.P. (NYSE: SXE) (“Southcross” or the “Partnership”) today announced fourth quarter and full year 2012 financial and operating results.

Fourth Quarter 2012 Operational Highlights
  • Processed natural gas volumes averaged 215,083 million BTU per day (“MMBtu/d”) during the fourth quarter of 2012, an increase of 1% from the fourth quarter of 2011 and an increase of 29% from the third quarter of 2012.
  • NGL production averaged 11,057 barrels per day during the fourth quarter of 2012, an increase of 70% from the fourth quarter of 2011 and an increase of 33% from the third quarter of 2012.
  • Commenced operations of our Bonnie View fractionation facility and, in February 2013, completed its expansion to a capacity of 22,500 barrels per day.
  • Initiated flow through our new Bee Line pipeline and, in February 2013, completed the final phase of the project to bring capacity to 320 million cubic feet per day to transport liquids-rich gas from the central Eagle Ford shale area to Southcross-owned processing and fractionation facilities.

Fourth Quarter Results

Southcross’ Adjusted EBITDA (as defined below) was $1.3 million for the three month period ended December 31, 2012 and $24.0 million for the year ended December 31, 2012, compared to $8.4 million for the three month period ended December 31, 2011 and $29.0 million for the year ended December 31, 2011. Adjusted EBITDA for the fourth quarter 2012 was impacted negatively by unusual events having a combined impact of approximately $8.6 million. These include an estimated $4.0 million related to start-up issues at our Bonnie View fractionation facility, $2.6 million due to curtailments and other actions by our third-party gas processor, and $2.0 million from costs related to the earlier than anticipated turnaround maintenance at our Gregory processing and fractionation facility.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,794.69 -18.70 -0.10%
S&P 500 2,089.33 +0.46 0.02%
NASDAQ 5,121.2410 +5.0980 0.10%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs