US oil and gas developer, Energy Transfer has reported net income attributable to its partners of $1.32 bill for the first quarter of this year, compared to $1.24 bill for 1Q24.
For 1Q25, net income per common unit (basic) was $0.37.
Adjusted EBITDA was $4.10 bill, compared to $3.88 bill for the three months ended 31st March, 2024.
First quarter distributable cash flow attributable to the partners, as adjusted, was $2.31 bill, compared to $2.36 bill for 1Q24.
Growth capital expenditures in the first quarter of 2025 were $955 mill, while maintenance capital expenditures totalled $165 mill.
The company said that its volumes continued to grow during the first quarter, compared to the same quarter of 2024.
For example, interstate natural gas transportation volumes were up 3%, setting a new partnership record.
In the LNG space, during April, 2025, Energy Transfer signed a heads of agreement (HoA) with MidOcean Energy for the joint development of the Lake Charles LNG project, under which MidOcean would commit to fund 30% of the construction costs and be entitled to receive 30% of the LNG production.
As of 31st March 31, 2025, the Partnership’s revolving credit facility had an aggregate $4.37 bill of available borrowing capacity.
Giving an annual guidance, the company said that it continued to expect its 2025 adjusted EBITDA to be between $16.1 bill and $16.5 bill, and its 2025 growth capex to be around $5 bill.
