Regency Energy Partners First Quarter Earnings Release May 11, 11 2009
First Quarter Highlights First quarter performance was in-line with managements expectations Management reiterates Regency Regencyss adjusted EBITDA guidance range of 220 - 240 million for 2009 2009 2009 Outlook ( in millions)…
Haynesville Ha nes ille Expansion E pansion Project and Joint Venture Update
Haynesville Drilling Update Optimism around the play continues to be supported by strong well results with regular reports of IP rates above 20 MMcf/d For 2009, operators plan to spend more than 3.5 billion on drilling prospective…
Capacity Update f Currently 92%, or 1,010 MMbtu/d, has been contracted to date Firm transportation capacity with 10 year contract terms Approximately 85% of revenues come from reservation fees f Project favorably positioned for…
Construction Update Construction on the 36 pipe commenced at the beginning of May Plan to begin g construction on the 42 p pipe p in July y 36 Bienville line Acquired Louisiana DNR permit, USACE and other environmental…
Project Overview Project Costs Total cost of the project is projected to be 653 million Project Description Expected Cost ( millions) Pipeline Bienville Loop 25 miles of 36 pipeline3 118 Elm Grove Pipeline p 21 miles of 36 p…
B siness Re Business Review ie
Strong Quarterly Results Regencys first quarter 2009 financial performance remained strong despite a sharp decline in commodity prices, which is a testament to our long-term strategy of increasing fee-based margins Adjusted EBITDA 60…
Strong Quarter-Over-Quarter Performance f D Despite it recentt declines d li iin rig i counts, t C Contract t tC Compression i h horsepower and dTTransportation t ti throughput continue to experience moderate growth, while…
Financial Re Review ie
Consolidated Operating Results R Regency E Energy PPartners t LP Condensed Consolidated Income Statements Unaudited (in thousands) Three Months Ended March 31, 2009 2008 REVENUES Gas sales 148,270 236,692 NGL sales 49,585…
Gathering and Processing Segment Three Months Ended March 31, 2009 2008 ( in thousands) Gathering G th i and dPProcessing i Segment S t Financial data (1): Segment margin 59,148 55,246 Adjusted segment margin 55,583 58,336…
Transportation Segment Three Months Ended March 31, 2009 2008 ( in thousands) Transportation Segment Financial data (1): Segment margin 11,554 13,254 Adjusted segment margin 11,554 13,254 Operating data: Throughput (MMbtu/d)…
Contract Compression Segment Three Months Ended March 31, 2009 2008 ( in thousands) Contract Compression Segment Financial data: Segment margin 36,981 23,021 Operating data: Revenue generating horsepower 789,494 615,852 Average…
Strong Foundation- 2009 DCF Analysis DCF Sensitivity to Commodity Price Changes - 2009 Change in WTI Price (/bbl) Change in Natural Gass ( in millions) Decrease 10.00 Flat Increase 10.00 e (/MMbtu) Decrease 1.00 (1.1)…
Non GAAP Reconciliations Non-GAAP
Non-GAAP Reconciliation Three Months Ended March 31, 2009 2008 2007 ( in thousands) Net income (loss) attributable to Regency Energy Partners LP 148,389 10,348 (1,295) Income tax expense 100 251 - Interest expense, net 14,227…
Non-GAAP Reconciliation Three Months Ended March 31, 2009 2008 2007 ( in thousands) Net income (loss) attributable to Regency Energy Partners LP 148,389 10,348 (1,295) Add (Deduct): O Operation ti and d maintenance i t 36,042 36…
Non-GAAP Reconciliation Three M Th Months th E Ended d d March 31, 2009 ( in thousands) Net cash flows provided by operating activities 36,331 Add (deduct): Depreciation and amortization, including debt issuance cost…
Non-GAAP Reconciliation Low Estimate High Estimate ( in thousands) Forecasted net income 231,496 245,496 Add (Deduct): Gain on sale of RIGS (133,940) (133,940) Gain from risk management activities (3,564) (3,564) Depreciation…
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