Western Gas Partners, LP 2011 First-Quarter Review May 5, 2011
First-Quarter Highlights Delivered Strong Operational Performance Increased Quarterly Distribution to 0.39/Unit Eighth consecutive quarterly increase Closed 303 MM Platte Valley Acquisition Closed Five-Year 800MM Credit Facility…
Financial Summary 1Q11 vs. 4Q10 ( in millions) 1Q11 4Q10 Adjusted EBITDA 56.3 57.8 Total Capex(1) 13.7 13.5 Maintenance Capex(1) 4.7 5.6 Maint. Capex as % of EBITDA 8% 10% Distributable Cash Flow(2) 49.7 50.0 (1) Includes…
Operating Summary Record Gross Margin Attributable to WES of 0.62 Per Mcf Change in throughput mix Addition of Platte Valley assets for one month Average Daily Throughput of 1.5 Bcf/d 1.56 Bcf/d in March Start-up of Bison…
2011 Outlook ( in millions) Full-Year 2011 Adjusted EBITDA 230 - 250 Total Capex 97 - 112 Maint. Capex as % of Adj. EBITDA 11 - 14% 6
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Non-GAAP Reconciliation Adjusted EBITDA The Partnership defines Adjusted EBITDA as net income (loss) attributable to Western Gas Partners, LP, plus distributions from equity investees, non-cash share-based compensation expense,…
Non-GAAP Reconciliation Distributable Cash Flow The Partnership defines Distributable Cash Flow as Adjusted EBITDA, plus interest income, less net cash paid for interest expense (including amortization of deferred debt issuance costs…
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