The company also reported record cash available for distribution to common unitholders, or distributable cash flow (DCF) of $55.1 million for the three months ended March 31, 2008.
Net income for the three months ended March 31, 2008 and 2007, includes $0.6 million and $25.4 million, respectively, of non-cash costs associated with the mark-to-market of derivative instruments and compensation expense.
The company reported total revenue of $238.8 million for the first quarter of 2008, compared to total revenue of $177.71 million for the same period of 2007.
Frank Semple, president and CEO of MarkWest Energy Partners, said: We are off to a strong start in 2008, with solid financial results in the first quarter that are consistent with our objective of delivering superior and sustainable distribution growth. During the first quarter we completed the merger with MarkWest Hydrocarbon, which eliminated the significant burden of the incentive distribution rights being paid to the general partner.
