Adjusted EBITDA for the fourth quarter of 2015 was $14.2 million, compared to $10.0 million for the fourth quarter of 2014. Adjusted EBITDA for the fourth quarter of 2015 included $2.5 million of corporate overhead support from its general partner.

JP Energy reported a loss from continuing operations of $32.1 million for the fourth quarter of 2015, compared to a loss from continuing operations of $18.1 million for the fourth quarter of 2014. Distributable cash flow was $12.1 million for the fourth quarter of 2015, resulting in a distribution coverage ratio for the quarter of 1.0x.

JP Energy owns, operates, develops and acquires a portfolio of midstream energy assets. Its operations currently consist of crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales, which together provide midstream infrastructure solutions for the growing supply of crude oil, refined products and NGLs in the United States.

For the year ended Dec. 31, 2015, JP Energy reported $46.9 million of adjusted EBITDA, or $41.4 million excluding $5.5 million of corporate overhead support from its general partner, a 31% increase compared to $31.7 million for the year ended Dec. 31, 2014.

Loss from continuing operations was $43.7 million for each of the full years 2015 and 2014. The loss from continuing operations for the fourth quarter and full-year 2015 include a noncash goodwill impairment charge of $29.9 million. Distributable cash flow was $38.8 million for the full year 2015 and the distribution coverage ratio was approximately 0.8x.

JP Energy previously provided financial guidance for 2016 including full-year adjusted EBITDA of $50 million to $56 million and distributable cash flow of $39 million to $45 million.

For NGL distribution and sales, adjusted EBITDA was $7.9 million for the fourth quarter of 2015 and $30.9 million for the year ended Dec. 31, 2015, compared to $5.6 million for the fourth quarter of 2014 and $15.5 million for the year ended Dec. 31, 2014.

The increase was driven by both higher average NGL and refined products sales margins due to more favorable market conditions and higher NGL and refined products sales volumes from organic growth in its customer base and the acquisition of Southern Propane in May 2015.

For crude oil pipelines and storage, JP reorganized its business segments to match the change in its internal organization and management structure by combining its formerly reported Crude Oil Supply and Logistics segment into its Crude Oil Pipelines and Storage segment.

The segment changes reflect the focus of its management team and how performance of operations is evaluated and resources are allocated.

Adjusted EBITDA for the Crude Oil Pipelines and Storage segment was $6.8 million for the fourth quarter of 2015 and $23.1 million for the year ended Dec. 31, 2015, compared to $6.2 million for the fourth quarter of 2014 and $25.3 million for the year ended Dec. 31, 2014.

The decrease for the full-year 2015 compared to the full-year 2014 was primarily due to reduced margins associated with continued low crude oil prices driving a decrease in production volumes and creating more competition for crude purchases, partially offset by higher crude oil sales volumes and throughput due to expansions of the Silver Dollar Pipeline System throughout 2015.

For refined products terminals and storage, adjusted EBITDA was $3.3 million for the fourth quarter of 2015 and $10.9 million for the year ended Dec. 31, 2015, compared to $3.1 million for the fourth quarter of 2014 and $10.7 million for the year ended Dec. 31, 2014.

The slight increase for the full-year 2015 compared to the full-year 2014 was primarily due to an increase in refined product sales volumes due to the addition of butane blending capabilities at the company’s North Little Rock Terminal in the second quarter of 2015 and lower operating expenses due to the lack of a non-recurring one-time expense item realized in 2014. These benefits were partially offset by a decrease in refined product sales revenue from lower commodity prices.