RATTLER MIDSTREAM LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., PROVIDES UPDATE
Rattler Midstream LP - Common Units Representing Limited Partnership Interests (RTLR)
Last rattler midstream lp - common units representing limited partnership interests earnings: 2/18 04:01 pm
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Source: GlobeNewswire
MIDLAND, Texas, March 19, 2020 (GLOBE NEWSWIRE) -- Rattler Midstream LP (NASDAQ: RTLR) (“Rattler” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today provided the following update. Given recent commodity price volatility, Rattler’s 2020 Guidance given on February 18, 2020 is being withdrawn, and the items specified below are updated as follows: Guidance Update Rattler 2020 Guidance($ millions) Adjusted EBITDA(a)$260 - $300Equity Method Investment EBITDA(b)$30 - $50Operated Midstream Capex$100 - $150 (a) Includes Equity Method Investment EBITDA(b) Includes EPIC, Gray Oak, Wink to Webster, OMOG and Amarillo Rattler joint ventures “Rattler has dramatically reduced its 2020 capital budget by over 40% due to the lower expected activity levels at Diamondback for the year. EBITDA guidance has been reduced by ~25% at the midpoint, which assumes a 15% - 25% reduction in equity method EBITDA contributions for the year as well as less vol
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