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ALTUS MIDSTREAM NEWS RELEASE Altus Midstream Announces Estimated First - Quarter 2021 Results • All four joint venture pipelines are in service , delivering natural gas , oil and NGLs ; • Decreased gathering and processing operating costs for the seventh consecutive quarter ; and • Paid first cash dividend in March ; declared $ 1.50 per share dividend payable in June . HOUSTON , May 5 , 2021 - Altus Midstream Company ( Nasdaq : ALTM ) today announced its estimated results for the three - month period ending March 31 , 2021 . The company reported an estimated first - quarter 2021 net income of $ 22 million including noncontrolling interests . Estimated Adjusted EBITDA for the first quarter 2021 was $ 65 million , and growth capital expenditures were approximately $ 21 million . Gathering and processing ( G & P ) throughput volumes for the period averaged 436 million cubic feet ( MMcf ) per day , approximately 72 % of which was rich gas . CEO Comment " Altus Midstream continued its positive momentum in the first quarter of 2021 achieving free cash flow for the first full quarter , a significant milestone for the company . Our team also delivered remarkable safety and operational performance during the severe weather in February , " said Clay Bretches , Altus Midstream CEO and president . “ Despite the challenges of the winter storm , our assets and operations quickly returned to pre - storm levels . " We are optimistic that U.S. oil and gas demand will continue to recover in 2021. Our team remains focused on safe operations , bringing in third - party business , and asset optimization . " CFO Comment " With higher expected G & P volumes and a strong first - quarter performance , we are raising the midpoint of our 2021 EBITDA guidance to $ 255 million , " said Ben Rodgers , Altus Midstream chief financial officer . " Altus is in a stable financial position with ample operating cash flow and liquidity . Our growth capital obligations are minimal , and we remain on track to meet our annual guidance estimate of $ 30-40 million . Finally , we are pleased that the Board has declared our second quarterly dividend . "