COMPRESSCO PARTNERS LP
Compressco Partners LP posted net income of $6.3 million, or 40 cents a unit, in the fourth quarter, the company reported Thursday. “I am very pleased to report the partnership's highest single quarterly profit before tax since its formation,” President Ronald J. Foster said. “Our fourth quarter results reflect our commitment to improve compressor fleet utilization and operational efficiencies, maintain costs and improve margins.”
TULSA — SemGroup Corp.on Thursday reported net income of $3.3 million, or 8 cents a share, for the fourth quarter. That is down from $21.1 million, or 50 cents a share, in the same period of 2012, but the midstream service company noted its adjusted earnings before interest, taxes, depreciation and amortization were up 32 percent over last year. “2013 was an excellent year for our company. We continued a multi-quarter trend of strong results,” CEO Norm Szydlowski said. “These results reflect the strength of our strategic plan and asset base.” He is optimistic about this year as well.
ROSE ROCK MIDSTREAM LP
Rose Rock Midstream LP earned $6.2 million, or 26 cents a unit, in the fourth quarter, the company reported Thursday. That is up from $4.6 million, or 27 cents a unit, in the same quarter of 2012. “Rose Rock Midstream had a strong finish to the year, exceeding our previous guidance range and delivering excellent results driven by growth,” CEO Norm Szydlowski said. “We are confident that our solid financial results, 15 percent increase in cash distributions year-over-year and our continued focus on... growth-oriented acquisitions are all steps in the right direction.”
LAREDO PETROLEUM INC.
TULSA — Laredo Petroleum Inc. on Thursday reported net income of $68.2 million, or 48 cents a share, for the fourth quarter. That is up from $19.1 million, or 13 cents a share, for the same period of 2012. “During 2013, Laredo continued to implement its multi-year plan for the company’s world-class Permian acreage and made significant progress in positioning the company for the multi-zone development program that we are executing in 2014,” CEO Randy A. Foutch said.
From Staff Reports