NuStar Energy, a pipeline operator in the Eagle Ford, announces the highest recorded EBITDA in the company’s history for full year 2015.
In a recent press release, NuStar reported $662.7 million of EBITDA for the year ending December 31, 2015, a 21% increase over the same time last year.
In recent years, much of NuStar’s growth has been around their assets in Eagle Ford. Following are the company’s comments for the fourth quarter and full year 2015.
- Total Eagle Ford volumes average about 238,000 barrels per day
- Record Eagle Ford throughputs at our Corpus Christi North Beach terminal
- Eagle Ford operations comprise less than 20% of our total 2015 segment EBITDA
- Approximately 73% of our Eagle Ford revenues are committed under long-term take-or-pay contracts with strong creditworthy customers
- Throughputs in the company’s Eagle Ford assets were down 18% in the fourth quarter of 2015 compared to the record throughput levels we reached in the first quarter of the year
- The company forecasts Eagle Ford throughput slightly above our minimum volume commitments for all of 2016
In other NuStar news, the company partnered with ConocoPhilips to ship the first load of Eagle Ford sweet crude from Corpus Christi just two weeks after the Obama Administration repealed the 40-year oil export ban.
Read more at NuStarEnergy.com