Revenue during the quarter surged 54.50 percent to $828.10 million from $536 million in the previous year period. Operating margin for the quarter period stood at positive 4.36 percent as compared to a negative 11.98 percent for the previous year period.

Operating income for the quarter was $36.10 million, compared with an operating loss of $64.20 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $90.90 million compared with $120 million in the prior year period. At the same time, adjusted EBITDA margin contracted 1141 basis points in the quarter to 10.98 percent from 22.39 percent in the last year period.

"While our first quarter 2017 results were in-line with our budget and we maintained a solid leverage ratio and distribution coverage ratio at 3.9x and 1.4x, respectively, the real story is the strengthening of fundamentals across our entire portfolio," stated Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. "We delivered strong performance from our Gathering and Processing and Storage and Transportation segments, particularly around our Bakken assets. Increased producer activity and better well performance led to record oil, gas and water volumes on the Arrow gathering system and set the stage for the new Bakken growth projects we announced today. The new gas processing facility will improve market access, net-back gas prices and flow assurance for our Arrow producers who are ramping up their activity levels."