American Midstream Partner announced a strong first quarter and that they are on target to finish a new Bakken oil gathering system by the second quarter of 2015.
In a press release this week, American Midstream Partners reported an increase of nearly 50% over the prior year quarter, with gross margin of $33.8 million and adjusted EBITDA of $15.6 million.
The company’s forecasted growth capital expenditures includes construction of the Bakken crude oil gathering system that consists of a 39-mile pipeline with the capacity to transport up to 40,000 Bbls/d crude oil. This pipeline will serve to provide producers in North Dakota with access to refinery, rail, and pipeline markets.
Read more at americanmidstream.com