Valero Energy Partners LP has reported fourth quarter 2017 net income of $64m and EBITDA $91m. The Partnership reported net cash provided by operating activities of $69m and distributable cash flow of $72m.
For the year ending December 31, 2017, net income was $238m and EBITDA $328m. The Partnership reported net cash provided by operating activities of $289m and distributable cash flow of $284m.
Chairman and Chief Executive Officer of VLP’s general partner, Joe Gorder said: “We operated safely and reliably, delivered 25 percent annual distribution growth, and remain positioned to deliver on our distribution growth target of at least 20 percent for 2018 without having to complete additional acquisitions. Our focus remains on disciplined growth through drop downs, organic growth projects, and midstream acquisitions.”
Revenues of $126m for the fourth quarter of 2017 were $22m higher than the fourth quarter of 2016 due primarily to contributions from the Red River pipeline segment, which was acquired in January 2017, and the Port Arthur terminal and Parkway Pipeline, which were acquired in November 2017. Cost of revenues excluding depreciation expense was $31m and depreciation expense was $16m in the fourth quarter of 2017 compared to $24m and $11m, respectively, in the fourth quarter of 2016.
For full details visit www.valeroenergypartners.com
5th Feb 2018