MarkWest Energy 2Q15: Operating Inc. Up 26%, Net Inc. Down 562%

MarkWest Energy, the premier midstream (pipelines and processing plants) company in the Marcellus/Utica, issued their second quarter 2015 update yesterday. MarkWest, you may recall, is in the process of selling itself to Marathon Petroleum (see Midstream Bombshell: MarkWest Sells Itself to Marathon Petroleum). MarkWest shows a slight decrease of 11% in revenue from 2Q14 to 2Q15. But after expenses, income from operations actually went up 26% on record volumes flowing through their pipes and processing plants. But after you add in all of the accounting machinations including things like “loss on redemption of debt”, MarkWest had a net income loss of $86.4 million for the quarter (down 562% from 2Q14). However, that’s not what really interests us. What interests us is an operations update for the Marcellus and Utica regions and what this midstream giant has been up to…

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