Northern Border Partners, L.P. Announces a 10 Percent Increase in Its First Quarter 2006 Cash Distribution
18 Aprile 2006 - 10:49PM
Business Wire
The Partnership Policy Committee of Northern Border Partners, L.P.
(NYSE:NBP) announced today that it is increasing its cash
distribution by $0.08 per unit to $0.88 per unit, effective for the
first quarter 2006. The distribution is payable on May 15, 2006 to
unitholders of record as of April 28, 2006. "This increase reflects
our confidence in the ability of the recently acquired ONEOK assets
to make immediate contributions to the Partnership's earnings and
cash flow with additional increases anticipated before year-end at
a targeted distribution of between $3.72 and $3.80 annualized. We
are committed to utilizing all our assets as the foundation to
provide additional opportunities for growth and associated
increases in cash distributions for our investors," said David
Kyle, chairman and chief executive officer of Northern Border
Partners. Northern Border Partners, L.P. is a publicly traded
partnership whose purpose is to own, operate and acquire a
diversified portfolio of energy assets. The Partnership owns and
manages natural gas gathering, processing, storage, interstate and
intrastate natural gas pipeline assets and one of the nation's
premier natural gas liquids (NGL) systems, connecting much of the
natural gas and NGL supply in the mid-continent with key market
centers. More information can be found at
http://www.northernborderpartners.com. This press release contains
"forward-looking statements" as defined by federal law. Although we
believe that our expectations regarding future events are based on
reasonable assumptions, we can give no assurance that our
expectations will be achieved. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include: -- actions by rating agencies
concerning our credit ratings; -- the effects of weather and other
natural phenomena on our operations, including energy sales and
prices and demand for pipeline capacity; -- competition from other
U.S. and Canadian energy suppliers and transporters as well as
alternative forms of energy; -- the profitability of assets or
businesses acquired by us; -- the timing and extent of changes in
commodity prices for natural gas, natural gas liquids, electricity
and crude oil; -- the effects of changes in governmental policies
and regulatory actions, including changes with respect to income
taxes, environmental compliance, authorized rates or recovery of
gas costs; -- the impact of unforeseen changes in interest rates,
equity markets, inflation rates, economic recession and other
external factors over which we have no control, including the
effect on pension expense and funding resulting from changes in
stock and bond market returns; -- the results of administrative
proceedings and litigation, regulatory actions and receipt of
expected clearances involving regulatory authorities or any other
local, state or federal regulatory body, including the FERC; -- our
ability to access capital at competitive rates or on terms
acceptable to us; -- risks associated with adequate supply to our
gathering, processing, fractionation and pipeline facilities,
including production declines which outpace new drilling; -- the
impact of unsold capacity on Northern Border Pipeline being greater
or less than expected; -- the ability to market pipeline capacity
on favorable terms; -- orders by the FERC which are significantly
different that our assumptions related to Northern Border
Pipeline's November 2005 rate case; -- performance of contractual
obligations by our customers; -- impact on drilling and production
by factors beyond our control, including the demand for natural gas
and refinery-grade crude oil; producers' desire and ability to
obtain necessary permits; reserve performance; and capacity
constraints on the pipelines that transport natural gas, crude oil
and natural gas liquids from producing areas and our facilities; --
ability to control operating costs; -- our ability to successfully
integrate the operations of the assets acquired from ONEOK with our
current operations; -- acts of nature, sabotage, terrorism or other
similar acts causing damage to our facilities or our suppliers' or
shippers' facilities; and -- other risk factors listed in reports
we have filed and may file with the SEC. Other than as required
under securities laws, we undertake no obligation to update
publicly any forward-looking statement whether as a result of new
information, subsequent events or change in circumstances,
expectations or otherwise.
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