HOUSTON, TX--(Marketwired - Oct 27, 2016) - Midcoast Energy Partners, L.P. (NYSE: MEP) ("Midcoast Partners" or "the Partnership") announced today that the board of directors of its general partner has declared a quarterly cash distribution of $0.3575 per unit, or $1.43 per unit on an annualized basis on all of its outstanding common and subordinated units for the quarter ended September 30, 2016. The approved distribution remains unchanged from the previous quarter. The distribution is payable on November 14, 2016, to unitholders of record at the close of business on November 7, 2016.
Management Review of 2016 First Quarter Financial Results
Midcoast Partners will host a conference call at 8:30 a.m. Eastern Time on Monday, October 31, 2016 to review its third quarter 2016 earnings. The call will be webcast live over the internet and may be accessed on Midcoast Partners' website under "Events and Presentations" or directly at http://edge.media-server.com/m/p/rb46g8ww
Presentation slides will also be available at the link below.
MEP Events and Presentations:
A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A transcript will be posted to the website within approximately 24 hours.
About Midcoast Energy Partners, L.P.
Midcoast Energy Partners, L.P. (NYSE: MEP) is a limited partnership formed by Enbridge Energy Partners, L.P. (NYSE: EEP) to serve as EEP's 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 51.6 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.
EEP owns 100 percent of Midcoast Holdings, L.L.C., the general partner of Midcoast Partners and holds an approximate 54 percent interest in Midcoast Partners. EEP 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.