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Company News

BRIEF-Altagas Reports Q4 Adjusted FFO Per Share C$1.03

March 1 (Reuters) - Altagas Ltd:

* REPORTS STRONG 2017 FOURTH QUARTER AND YEAR END RESULTS

* Q4 ADJUSTED FFO PER SHARE C$1.03

* RECORDED AN INCOME TAX RECOVERY OF $34 MILLION FOR YEAR ENDED DECEMBER 31, 2017 COMPARED TO INCOME TAX EXPENSE OF $33 MILLION IN 2016

* AS A COMBINED ENTITY WITH WGL ACQUISITION, EXPECTS NORMALIZED EBITDA TO INCREASE BY ABOUT 25 TO 30 PERCENT IN 2018

* EXPECTS NET CAPITAL EXPENDITURES IN RANGE OF $500 MILLION TO $600 MILLION (EXCLUDING WGL) FOR 2018

* AS A COMBINED ENTITY WITH WGL ACQUISITION, EXPECTS NORMALIZED FFO TO INCREASE BY ABOUT 15 TO 20 PERCENT IN 2018

* NORMALIZED FUNDS FROM OPERATIONS FOR Q4 OF 2017 WERE $1.03 PER SHARE

* ALTAGAS - ON STANDALONE BASIS, EXPECTS A INCREASE TO BOTH NORMALIZED EBITDA AND FFO IN 2018 COMPARED TO 2017 RELATED TO BASE BUSINESS

* FOR 2018, HAS FRAC HEDGES IN PLACE FOR ABOUT 7,500 BBLS/D AT AVERAGE PRICE OF ABOUT $33/BBL EXCLUDING BASIS DIFFERENTIALS

* 2018 COMMITTED CAPITAL PROGRAM IS EXPECTED TO BE FUNDED THROUGH INTERNALLY-GENERATED CASH FLOW AND DRIP

* ALTAGAS - FOLLOWING CLOSE OF WGL DEAL, CONSOLIDATED 2018 CAPITAL PROGRAM ON COMBINED BASIS INCLUDING CAPITAL FOR WGL, EXPECTED TO BE $1 TO $1.3 BILLION Source text for Eikon: Further company coverage:

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