Safe Harbor Statement Some of the statements in this document concerning future company performance will be forward-looking within the meanings of the securities laws. Actual results may materially differ from those discussed in these…
Quarter Update Gregory J. Rizzo President and Chief Executive Officer
3rd Quarter Highlights Net Income of 43.5 million 13% increase over 3rd Qtr 2010 Cash Available for Distribution of 69.3 million up 18.9 million over 3rd Qtr 2010 Big Sandy acquisition closed on July 1st NET Project placed…
Financial Highlights Laura Buss Sayavedra Vice President and Chief Financial Officer
Gas Transportation & Storage Three Months Ended September 30 ( millions) 2011 2010 Operating Revenues 52.9 49.0 Operating Expenses 27.9 23.2 Operating Income 25.0 25.8 Other Income 0.9 0.2 Segment EBIT 25.9 26.0 3Q11…
Gulfstream Natural Gas Three Months Ended September 30 ( millions) 2011 2010 Operating Revenues 69.7 69.5 Operating Expenses 18.7 18.4 Operating Income 51.0 51.1 Interest Expense & Other (18.0) (17.3) Net Income (100%) 33.0…
Market Hub Partners Three Months Ended September 30 ( millions) 2011 2010 Operating Revenues 31.0 29.2 Operating Expenses 8.6 9.0 Operating Income 22.4 20.2 Interest Expense & Other (0.1) 0.1 Net Income (100%) 22.3 20.3 SEPs…
3rd Quarter Earnings Summary Three Months Ended Nine Months Ended September 30 September 30 ( millions) 2011 2010 2011 2010 Operating Revenues 52.9 49.0 147.1 146.9 Operating Expenses 29.7 24.7 83.5 77.7 Operating Income 23.2 24.3…
Cash Available for Distribution (CAD) Three Months Ended Nine Months Ended September 30 September 30 ( millions) 2011 2010 2011 2010 Adjusted EBITDA 32.9 31.7 88.5 91.4 Add: Cash available from equity investments Gulfstream (49%)(1)…
New Credit Facility 700 million facility put in place October 18, 2011 5 Year Term Replaces prior 500 million facility 3Q11 Earnings Review 11
Business Update Gregory J. Rizzo President and Chief Executive Officer
Track Record of Balanced Growth Financial Organic Acquisitions Unitholder Strength Growth Value Stable, strategically Well-positioned to Growth-oriented located assets benefit from natural MLP strategy to Financial flexibility…
Appendix A Financial and Other Information
Debt and Available Liquidity Spectra Energy Partners September 30, 2011 December 31, 2010 ( millions, unaudited) Credit Facility (LIBOR+35bps; matures 2012) 10 299 MLP Term Bank Loan (LIBOR based) 207 1) MHP Demand Note is reported as…
Credit Metrics (2) Debt(1)/EBITDA (2) Interest Coverage 5.0x 20.0x 4.0x 15.0x 14.6x 3.0x 2.6x 11.7x 2.0x 10.0x 2.0x 1.0x 5.0x 0.0x 0.0x December 2010 September 2011 December 2010 September 2011 (1) Debtincludes…
Gulfstream Debt ( millions, unaudited) September 30, 2011 Gulfstream Natural Gas System, LLC Debt (1) 100% 49% Unsecured 15 year note (5.56%; due 2015) 500 245 Unsecured 25 year note (6.19%; due 2025) 350 172 Unsecured 7 year…
Revenue Profile Nine Months Ended September 30, 2011 Nine Months Ended September 30, 2011 Nine Months Ended September 30, 2011 Gulfstream SEP Gas Natural Gas Revenues SEP SEP Share of Transportation Pipeline ( millions,…
Big Sandy Pipeline Big Sandy Operating Totals: 68 mile interstate pipeline 171,000 Dth/d of pipeline capacity Avg contract life: 15 yrs Well-positioned assets with access to the Huron Shale and Appalachian Basin FERC-regulated…
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