Northern Border (NYSE:NBP)
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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.