MarkWest Energy Partners Issues 2015, 2016 Guidance; Increases Distribution

(RTTNews) - MarkWest Energy Partners, L.P. (MWE) announced, for 2015, the partnership's adjusted EBITDA forecast remains in a range of $925 million to $975 million and distributable cash flow remains in a range of $700 million to $750 million.

For 2016, the Partnership forecasts adjusted EBITDA in a range of $1.05 billion to $1.15 billion and distributable cash flow in a range of $800 million to $870 million.

The Partnership reported adjusted EBITDA of $230.3 million for the three months ended September 30, 2015 compared to $235.5 million, last year. Quarterly cash available for distribution to common unitholders, or distributable cash flow (DCF), was $176.0 million for the three months ended September 30, 2015.

The company said its third quarter 2015 distribution of $184.1 million, or $0.93 per common unit, will be paid to unitholders on November 13, 2015.

The Partnership announced the execution of a long-term, fee-based agreement with Newfield Exploration Company (NFX) to develop a crude oil gathering system in the Cana-Woodford Shale. The new system will be developed in conjunction with the rich-gas system already being constructed to support Newfield's STACK acreage in Kingfisher, Blaine, and Canadian counties, Oklahoma.