Boardwalk Announces Second Quarter 2016 Results And Quarterly Distribution Of $0.10 Per Unit

HOUSTON, Aug. 1, 2016

The Partnership also announced its results for the second quarter ended June 30, 2016, which included the following items:

• Operating revenues of $306.3 million for the quarter and $651.3 million for the six months ended June 30, 2016, a 3% increase and a 4% increase from $298.6 million and $628.3 million in the comparable 2015 periods. Operating revenues, less fuel and transportation expense, were $294.7 million for the quarter and $619.4 million for the six months ended June 30, 2106, an 8% increase from $273.8 million and $575.4 million in the comparable 2015 periods.
  
  
• Net income of $65.7 million for the quarter and $166.7 million for the six months ended June 30, 2016, a 63% increase and a 41% increase from $40.4 million and $118.1 million in the comparable 2015 periods;
  
  
• Earnings before interest, taxes, depreciation and amortization (EBITDA) of $190.3 million for the quarter and $413.0 million for the six months ended June 30, 2016, a 14% increase and an 11% increase from $167.3 million and  $371.9 million in the comparable 2015 periods; and
  
  
• Distributable cash flow of $128.9 million for the quarter and $289.0 million for the six months ended June 30, 2016, a 40% increase and a 29% increase from $92.3 million and $224.6 million in the comparable 2015 periods.

Compared with the second quarter of 2015, the Partnership's operating revenues were favorably impacted by $12.7 million of proceeds received from the settlement of a legal claim, the return to service in mid-2015 of the Evangeline pipeline system, recently completed growth projects and an increase in the Partnership's parking and lending and storage services from improved market conditions. The second quarter of 2015 was favorably impacted by the receipt of $6.3 million of business interruption proceeds.

For the six-month period, the Partnership's operating revenues, net income and EBITDA were positively impacted by the items discussed above.

Capital Program
Growth capital expenditures were $217.6 million and maintenance capital expenditures were $41.4 million for the six months ended June 30, 2016.

Conference Call
The Partnership has scheduled a conference call for August 1, 2016, at 9:30 a.m. Eastern time to review the quarterly results, current market conditions and distribution amount. The earnings webcast may be accessed via the Boardwalk website at www.bwpmlp.com. Please access the website at least 10 minutes before the event begins to register and download and install any necessary audio software. Those interested in participating in the question and answer session of the conference call should dial (855) 793-3255 for callers in the U.S. or (631) 485-4925 for callers outside the U.S. The Conference ID to access the call is 37711438.

Replay
An online replay will be available on the Boardwalk website immediately following the call.