PetroLogistics reports sales of $191mn for Q4'13

06 Feb '14

3 min read

Operations

The Partnership sold 294.2 million pounds of propylene during the fourth quarter of 2013, 200.0 million of which were produced in November and December and the remainder was purchased in anticipation of the turnaround.

The Partnership recognized total sales of $191.0 million during the quarter, which included propylene sales of $187.9 million. The average polymer grade propylene benchmark price for the fourth quarter was 68.2 cents per pound.

Cost of sales was $158.1 million for the fourth quarter of 2013. The primary component of cost of sales is propane feedstock, which represented approximately 62% of total production costs for the fourth quarter of 2013. The average propane price for the quarter was $1.20 per gallon.

For the fourth quarter of 2013, the Partnership had a gross profit of $32.9 million, and the average propane-to-propylene spread was 34.0 cents per pound.

Distribution

The fourth quarter 2013 distribution of 30 cents per common unit will be paid on February 25, 2014 to unit holders of record on February 18, 2014. This brings the aggregate distributions for the twelve months ended December 31, 2013 to $1.72 per common unit.

About PetroLogistics LP

PetroLogistics LP is a master limited partnership which owns and operates the only U.S. propane dehydrogenation facility producing propylene from propane. The Partnership's headquarters and operations are located in Houston, Texas.

PetroLogistics LP

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