HOUSTON, March 19, 2018 /PRNewswire/ -- American Midstream
Partners, LP (NYSE: AMID) ("American Midstream" or the
"Partnership") announced that the proposed revisions outlined by
the Federal Energy Regulatory Commission ("FERC") regarding its
2005 Policy Statement for Recovery of Income Tax Costs, are
expected to have a negligible impact on the financial results of
the Partnership. The FERC announced, on March 15, 2018, that it plans to revise its 2005
Policy Statement for Recovery of Income Tax Costs so that it no
longer will allow interstate pipelines owned by Master Limited
Partnerships to recover an income tax allowance in the cost of
service.
After consideration of the proposed policy changes by the FERC,
American Midstream has determined, that based on the current rate
structure on the Partnership's FERC regulated pipelines, the
proposed changes are expected to have a negligible impact on the
earnings and cash flow of the Partnership. Further, any
proposed FERC policy revisions will have limited application to
American Midstream, as a substantial majority of the Partnership's
operations are not FERC regulated.
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited
partnership formed to provide critical midstream infrastructure
that links producers of natural gas, crude oil, NGLs, condensate
and specialty chemicals to end-use markets. American Midstream's
assets are strategically located in some of the most prolific
offshore and onshore basins in the Permian, Eagle Ford,
East Texas, Bakken and Gulf Coast.
American Midstream owns or has an ownership interest in
approximately 5,100 miles of interstate and intrastate pipelines,
as well as ownership in gas processing plants, fractionation
facilities, an offshore semisubmersible floating production system
with nameplate processing capacity of 100 MBbl/d of crude oil and
240 MMcf/d of natural gas; and terminal sites with approximately
6.7 MMBbls of storage capacity.
For more information about American Midstream Partners, LP,
visit: www.americanmidstream.com. The content of our website is not
part of this release.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
related to the Partnership's expectations regarding the timing of
the proposed offering and use of proceeds. We have used the words
"could," "expect," "intend," "may," "will," "would" and similar
terms and phrases to identify forward-looking statements in this
press release. Although we believe the assumptions upon which these
forward-looking statements are based are reasonable, any of these
assumptions could prove to be inaccurate and the forward-looking
statements based on these assumptions could be incorrect. Many of
the factors that will determine these results are beyond our
ability to control or predict. These factors include the risk
factors described in Part I, Item 1A. in our Annual Report on Form
10-K for the year ended December 31,
2016, filed with the SEC on March 28,
2017, our Form 10-Q for the quarter ended September 30, 2017, filed with the SEC on
November 9, 2017, our Registration
Statement on Form S-4 related to the Southcross acquisition, and
our other filings with the SEC. All future written and oral
forward-looking statements attributable to us or persons acting on
our behalf are expressly qualified in their entirety by the
previous statements. The forward-looking statements herein speak as
of the date of this press release. We undertake no obligation to
update such statements for any reason, except as required by
law.
Investor Contact
American Midstream Partners, LP
Mark Schuck
Director of Investor Relations
(346) 241-3497
ir@americanmidstream.com
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SOURCE American Midstream Partners, LP