Earnings release
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Shell Midstream Partners SHELL MIDSTREAM PARTNERS , L.P. 3rd QUARTER 2021 UNAUDITED RESULTS 3RD QUARTER • The Partnership reported $ 127 million of net income attributable to the Partnership , $ 138 million of net cash provided by operating activities , $ 145 million of adjusted EBITDA attributable to the Partnership and $ 122 million of cash available for distribution . Exhibit 99.1 • Third quarter distribution of $ 0.30 per common unit , consistent with previous quarter . The resilient asset base delivered value despite asset downtime related to Hurricane Ida . The Partnership did not experience any material damage to assets and now expects volumes to be ● 2021 substantially returned to normal by the end of Q4 2021 . HOUSTON , October 29 , 2021 - Shell Midstream Partners , L.P. ( NYSE : SHLX ) ( the " Partnership " or " Shell Midstream Partners " ) reported net income attributable to the Partnership of $ 127 million for the third quarter of 2021 , which equated to $ 0.29 per diluted common limited partner unit . Shell Midstream Partners also generated adjusted earnings before interest , income taxes , depreciation and amortization attributable to the Partnership of $ 145 million . Total cash available for distribution was $ 122 million , which is $ 64 million lower than the prior quarter . This decrease was largely driven by impacts related to Hurricane Ida as a majority of our Gulf of Mexico and Gulf Coast assets experienced downtime as a result of the storm . All assets , excluding the Mars pipeline system , which continues to be impacted by damage to our affiliates ' West Delta - 143 transfer facility ( " WD - 143 " ) , are now running under normal operating conditions . With the expected completion of repairs to WD - 143 now targeted for mid - November 2021 , the Partnership expects volumes to substantially return to normal levels by the end of Q4 2021 . " I am proud of the resiliency exhibited by our assets and , more importantly , our people , during a difficult quarter impacted by Hurricane Ida , " said Steven C. Ledbetter , CEO , Shell Midstream Partners GP LLC . " The rebase of our distribution last quarter allowed us to weather the storm and other headwinds to deliver strong Q3 results , as Shell staff worked tirelessly to get our assets back to normal operations . As we move forward , we believe our strong portfolio position will deliver stable , ratable cash flow , and we expect to generate excess cash . Along with our refreshed financial framework and strong balance sheet , this will allow us to navigate the marketplace and selectively take advantage of growth opportunities that will be accretive to all unit holders . " The Board of Directors of our general partner previously declared a cash distribution of $ 0.30 per limited partner common unit for the third quarter of 2021 , consistent with the prior quarter . The distribution will be paid November 12 , 2021 to unitholders of record as of November 2 , 2021 .