American Midstream Reports Third Quarter 2016 Results

American Midstream Partners, LP (NYSE: AMID) ("American Midstream" or the "Partnership") today reported financial results for the three and nine months ended September 30, 2016.

For the third quarter of 2016, the Partnership reported net income of $1.5 million, an increase of 132% as compared to the same period in 2015; Adjusted EBITDA of $35.8 million, an increase of 126%; and Distributable Cash Flow ("DCF")of $24.4 million, an increase of 121%. The Partnership maintained a distribution of $0.4125 per unit for the third consecutive quarter, and announced the Partnership's twenty first consecutive quarterly distribution.

For the nine months ended September 30, 2016, the Partnership reported a net loss of $7.1 million, a decrease of 20% as compared to the same period in 2015; Adjusted EBITDA of $92.2 million, an increase of 101%; and DCF of $63.9 million, an increase of 98%.


"The Partnership experienced another strong quarter driven by the Gulf Coast acquisitions and solid performance from our Transmission segment with Adjusted EBITDA increasing approximately 126% over the prior-year quarter," said Lynn Bourdon III, Chairman, President and Chief Executive Officer. "We will continue to execute on the growth and performance of the business through the evolving energy climate. With the ability to produce strong operational and financial results, we are poised to drive ongoing success in our core business and future endeavors."

Mr. Bourdon continued: "The first three quarters of 2016 have been a very impactful for American Midstream. Year to date, we have announced in excess of $400 million in acquisitions and growth projects, as well as the merger with JP Energy. The growth of the Partnership over the last nine months has been a continuation of our long-term strategy to expand our service offerings through the value chain with the objective of solidifying our position as a best-in-class integrated midstream provider. With the consolidation of the JP Energy and American Midstream assets under a single platform, the Partnership is well positioned to further develop our existing system as well as have a solid foundation for the next phase of growth."

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