The Globe and Mail reports in its Tuesday, May 3, edition that Enbridge Energy Partners LP is
looking at a possible sale of its
main natural gas business in the
United States, which has experienced
a 51-per-cent decline in
first quarter revenue and a higher
operating loss compared with last
year.
A Canadian Press dispatch to The Globe reports that the Enbridge-run limited partnership,
which is primarily
involved in transporting oil from
Western Canada and North Dakota,
says it is reviewing its holdings
in Midcoast Energy Partners and
Midcoast Operating LP -- its main
natural gas holdings.
Enbridge Energy Partners also
announced a 43-per-cent decline
in profit and a 26-per-cent decline
in revenue in the first
quarter, mainly attributed to
weakness in natural gas.
Total revenue was $1.06-billion, including $431.9-million
from natural gas (all figures U.S.). That is down
from $1.43-billion, including
$873.5-million from natural gas,
in the first quarter of 2015.
Net income dropped to $80-million or seven cents per unit from $140.1-million or 26 cents. Adjusted net income dropped 20 per cent to $113.8-million or 17 cents from $142.8-million or 26 cents.
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