HOUSTON, Feb. 5, 2014 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) and Spectra Energy Partners (NYSE: SEP) today announced their business outlook and three year financial plan.
Key highlights include:
- Spectra Energy 2014 distributable cash flow of more than $1.2 billion; SEP distributable cash flow in 2014 of $935 million with a CAGR of 13 percent through 2016
- At least 9 percent annual growth of Spectra Energy dividends and at least 8-9 percent annual growth of Spectra Energy Partners distributions through 2016
- 2014 enterprise-wide EBITDA of more than $3 billion; with a compounded annual growth rate (CAGR) of 7 percent through 2016
- Investment of approximately $1.3 billion in expansion capital in 2014 and an average annual growth CapEx of approximately $2 billion through 2016; SEP's share of CapEx is about 70 percent in 2014; 60 percent in 2015, and 45 percent in 2016
- Pursuing an additional $10 billion of natural gas and liquids opportunities over the previously announced $25 billion of opportunities through the end of the decade
- An average natural gas liquids price of 94 cents per gallon assuming ethane rejection; natural gas price of $3.75 per thousand cubic feet (Mcf); and crude averaging $95 per barrel.
- A Canadian to U.S dollar exchange rate of 1.05
- 2014 Expansion CapEx of $1.3 billion
- Maintenance CapEx of $755 million