SOURCE: Midcoast Energy Partners, L.P.
HOUSTON, TX--(Marketwired - Jan 29, 2014) - Midcoast Energy Partners, L.P. (NYSE: MEP) ("Midcoast Partners" or "the Partnership") today declared a cash distribution of $0.16644 per unit for the fourth quarter of 2013. The distribution represents the prorated amount of MEP's targeted minimum quarterly distribution of $0.3125 per unit, or $1.25 per unit on an annualized basis, based upon the number of days between the close of MEP's initial public offering on November 13, 2013, and the end of the fourth quarter. The quarterly distribution will be paid on February 14, 2014 to unitholders of record on February 7, 2014.
Management Review of Quarterly Results and 2014 Financial Guidance
Midcoast Partners will host a conference call at 10 a.m. Eastern Time on Wednesday, February 12, 2014 to review its fourth quarter 2013 earnings and present its 2014 financial guidance. The call will be webcast live over the internet and may be accessed on Midcoast Partners' website under "Events and Presentations" or directly at:
A replay will be available shortly afterward. Presentation slides will also be available at the link below.
MEP Events and Presentations:
Webcast link: http://www.media-server.com/m/acs/c6f9e60ff32f337262152cc82eb5dbef
The audio portion of the live presentation will be accessible by telephone at (877) 415-3184 (Passcode: 89249657) and can be replayed until May 12, 2014 by calling (888) 286-8010 (Passcode: 86187238). An audio replay will also be available for download in MP3 format from either of the website addresses above.
About Midcoast Energy Partners, L.P.
Midcoast Energy Partners, L.P. (NYSE: MEP), is a limited partnership formed by Enbridge Energy Partners, L.P ("Enbridge Partners") to serve as Enbridge Partners' primary vehicle for owning and growing its natural gas and natural gas liquids (NGLs) midstream business in the United States. Our assets consist of a 39 percent controlling interest in Midcoast Operating, L.P., a Texas limited partnership that owns a network of natural gas and NGL gathering and transportation systems, natural gas processing and treating facilities and NGL fractionation facilities primarily located in Texas and Oklahoma. Midcoast Operating also owns and operates natural gas, condensate and NGL logistics and marketing assets that primarily support its gathering, processing and transportation business. Through our ownership of Midcoast Operating's general partner, we control, manage and operate these systems.
Enbridge Energy Partners, L.P. (NYSE: EEP), owns 100% of Midcoast Holdings, LLC, the general partner of Midcoast Partners, and holds an approximate 54 percent interest in Midcoast Partners. Enbridge Partners owns and operates a diversified portfolio of crude oil and, through Midcoast Partners, natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.