Aug 10 - Energy company MarkWest Energy Partners LP (MWE.N) reported a narrower second-quarter loss, helped by strength in its fee-based business and increased volumes in certain operating segments, particularly in the shale plays.
The company reported a second-quarter loss of $67.5 million, or $1.18 a share, compared with a loss of $177.8 million, or $3.20 a share, last year.
Results for the quarter include non-cash costs of $89.2 million related to the mark-to-market of derivative instruments, the company said in a statement.
Excluding derivative losses, revenue fell 33 percent to $185 million.
Natural gas liquids sales at the company's southwest segment were up 38 percent at 64.7 million gallons.
Gas volumes in southwestern Pennsylvania are expected to grow significantly in the second half of 2009 and into 2010, MarkWest said.
Shares of the company closed at $21.38 Monday on the New York Sock Exchange.
The company reported a second-quarter loss of $67.5 million, or $1.18 a share, compared with a loss of $177.8 million, or $3.20 a share, last year.
Results for the quarter include non-cash costs of $89.2 million related to the mark-to-market of derivative instruments, the company said in a statement.
Excluding derivative losses, revenue fell 33 percent to $185 million.
Natural gas liquids sales at the company's southwest segment were up 38 percent at 64.7 million gallons.
Gas volumes in southwestern Pennsylvania are expected to grow significantly in the second half of 2009 and into 2010, MarkWest said.
Shares of the company closed at $21.38 Monday on the New York Sock Exchange.
