Just weeks after launching an initial public offering, Enable Midstream Partners LP said Wednesday its first quarter earnings rose 24 percent.
The Oklahoma City-based partnership, formed with the assets from OGE Energy Corp.’s Enogex unit and the pipelines of CenterPoint Energy Inc., said net income in the first quarter was $149 million, up from $120 million in the first quarter of 2013. The year-ago quarter comparisons are on a pro-forma basis from the partnership’s combined financial information.
As well as completing a $575 million initial public offering on April 11, the partnership announced a second Bakken project with XTO Energy Inc. as the anchor tenant. Enable Midstream also announced transportation agreements with Oklahoma Gas and Electric Co. and a long-term contract to move natural gas products from the South Central Oklahoma Oil Province.
Lynn Bourdon, Enable Midstream’s CEO, said the partnership was enthusiastic about future opportunities and said it will be able to share more details once it exits a post-offering quiet period.
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