3rd Quarter 2009 Earnings Review November 6, 2009 Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
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…
Gregory J. Rizzo President and Chief Executive Officer Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
3rd Quarter Highlights Net Income of 40.4 million 66% increase over 3rd Qtr 2008 Earnings per limited partner unit 0.48 41% increase over 3rd Qtr 2008 Cash Available for Distribution of 55.2 million Another strong quarter as…
Track Record of Growing Distributions 41 39 Raised distribution 0.02 per Distribution per LP Unit (in cents) 37 LP Unit to 0.40 per LP Unit 35 0.01 attributable to accretive 33 nature of Ozark acquisition 31 0.01…
Financial Highlights Laura Buss Sayavedra Vice President and Chief Financial Officer Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
Gas Transportation and Storage ( millions) Three Months Ended September 30, 2009 2008 Operating Revenues 49.8 29.5 Operating Expenses 21.7 16.6 Operating Income 28.1 12.9 Other Income - 0.4 EBIT 100% 28.1 13.3 Ozark and…
Gulfstream Natural Gas ( millions) Three Months Ended September 30, 2009 2008 Operating Revenues 67.9 60.5 Operating Expenses 17.6 15.5 Loss on Sale of Assets, net - 0.6 Operating Income 50.3 44.4 Interest Expense and Other…
Market Hub Partners (MHP) ( millions) Three Months Ended September 30, 2009 2008 Operating Revenues 28.6 25.7 Operating Expenses 7.9 8.1 Operating Income 20.7 17.6 Interest Income and Other - 0.5 Net Income 100% 20.7 18.1…
Cash Available for Distribution ( millions) Three Months Ended September 30, 2009 2008 Adjusted EBITDA 33.5 16.8 Add: Cash available from equity investments Gulfstream 14.4 12.8 Market Hub Partners 11.3 9.9 Preliminary project…
Debt and Available Liquidity ( millions) SEP maintains a strong financial position At Sept. 30, 2009 At June 30, 2009 Debt East Tennessee Natural Gas (5.71%; Due 2012) 150 150 Other Floating Rate Debt 270 269 Total Debt 420 419…
Looking Forward Gregory J. Rizzo President and Chief Executive Officer Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
2009 and Beyond: Positioned for Future Growth Ozark Integration & Optimization Northeastern Tennessee (NET) FERC Prefiling initiated 3Q09 Moss Bluff Storage Additional 6.5 Bcf by 2H11 Gulfstream Phase V Filed with FERC…
The Future Looks Bright for Natural Gas Natural gas will continue to be a key resource for North Americas energy needs: Abundant 100+ years of supply Shale and other non-conventional sources Improved technology Domestic Clean…
Questions and Answers Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
Appendix A Project Information Spectra Energy Partners November 6, 2009 3rd Quarter 2009 Earnings Review
Market Hub Partners Moss Bluff Cavern 4 Moss Bluff is a key player in the Texas intrastate market Moss Bluff Cavern 4 SEPs share of total Capex: 60 million Permitted by Texas Railroad Commission Cavern development process…
Market Hub Partners Egan Cavern 3 Egan is the premier salt cavern asset in North America Egan Cavern 3: SEPs share of total Capex: 80 million Cavern development process continuing Initial 6 Bcf of working capacity phased-in 2H09…
Gulfstream Natural Gas Phase III and IV Expansions Completed Gulfstream provides solid revenue base from long-term contracts Gulfstream Phase V: 35,000 Dth/d of new firm service Initial in-service 2H2011 SEP Share of total Capex: 12…
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