This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Stocks in this article: SXE

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs