2nd Quarter 2010 Earnings Review Natural Gas. Right Here, Right Now.
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…
Financial Highlights Laura Buss Sayavedra Vice President and Chief Financial Officer Natural Gas. Right Here, Right Now.
Financial Highlights 2nd Quarter 2010 Net income 33.2 million Earnings per limited partner unit 0.38 Cash available for distribution 33.4 million On track to achieve 2010 Outlook of 175 million in cash available for…
Gas Transportation & Storage Three Months Ended June 30 ( millions) 2010 2009 Operating Revenues 47.4 41.3 Operating Expenses 24.9 17.6 Operating Income 22.5 23.7 Other Income 0.2 0.1 Segment EBIT 22.7 23.8 2nd Quarter 2010…
Gulfstream Natural Gas Three Months Ended June 30 ( millions) 2010 2009 Operating Revenues 66.7 60.9 Operating Expenses 19.3 19.1 Operating Income 47.4 41.8 Interest Expense & Other (17.3) (13.9) Net Income (100%) 30.1 27.9 SEPs…
Market Hub Partners Three Months Ended June 30 ( millions) 2010 2009 Operating Revenues 29.8 29.9 Operating Expenses 9.9 8.4 Operating Income 19.9 21.5 Interest Expense & Other (0.1) 0.1 Net Income (100%) 19.8 21.6 SEPs Equity in…
2nd Quarter Earnings Summary Three Months Ended June 30 Six Months Ended June 30 ( millions) 2010 2009 2010 2009 Operating Revenues 47.4 41.3 97.9 76.9 Operating Expenses 27.5 20.6 53.0 40.2 Operating Income 19.9 20.7 44.9 36.7 Equity…
Cash Available for Distribution Three Months Ended Six Months Ended June 30 June 30 ( millions) 2010 2009 2010 2009 Adjusted EBITDA 27.3 27.8 59.7 50.5 Add: Cash available from equity investments Gulfstream (24.5%) 5.2 6.3 19.6 18.2…
Looking Ahead & Overview of Business Model Gregory J. Rizzo President and Chief Executive Officer Natural Gas. Right Here, Right Now.
Looking Ahead: Projects in Execution Current projects in execution reflect the organic growth opportunities of well-positioned assets Ozark Gas Transmission East Tennessee Natural Gas Northeastern Tennessee (NET) Expected…
East Tennessee Natural Gas Northeastern Tennessee (NET) Project SEPs NET project provides NET Saltville service to a new TVA gas-fired Storage Project generation plant 150,000 Dth/day East Tennessee Long-term arrangement Natural…
Consistent Strengths & Strategy Spectra Energy Partners focus on our strengths and our balanced growth strategy delivered 3 years of success Our Strengths Our Strategy for Growth Well-positioned assets Optimizing our assets…
Balanced Deployment of Capital Spectra Energy Partners has deployed 645 million in growth capital in a balanced, disciplined manner Organic Growth 38% Third Party 645 Million Acquisition 46% Acquisition from Sponsor 16%…
Our Strategy Provides Balanced Growth Spectra Energy Partners has increased distributions to unitholders for 11 consecutive quarters Spectra Energy Partners Distribution per LP Unit 0.45 0.40 0.35 0.30 0.25 0.20 0.15 3Q…
Three Years of Success Building on our 3 years of accomplishments, we look forward to continued success Successfully deployed 645 million in growth capital Significantly grew the asset portfolio Pipeline miles: 2,100 miles to 3,100…
www.spectraenergypartners.com Natural Gas. Right Here, Right Now.
Appendix A Other Financial Information Natural Gas. Right Here, Right Now.
Debt and Available Liquidity ( millions) June 30, 2010 Mar. 31, 2010 Debt: East Tennessee Natural Gas (5.71%; due 2012) 150 150 Other Floating Rate Debt 265 268 Total Debt 415 418 Available Liquidity: Credit Facility 500 500…
Debt Schedule ( millions) June 30, 2010 SEP Debt: East Tennessee Natural Gas (5.71%; due 2012) 150 500 million Credit Facility (current rate: LIBOR + 35bps; expires 2012) 240 MHP Demand Note (LIBOR; due 2012) 25 Total Debt 415…
2nd Quarter 2010 vs. 2nd Quarter 2009 2nd Quarter 2009 Issued 10 million LP units Weighted Average LP Units Outstanding: 2Q09 74 million LP units 2Q10 80 million LP units Gulfstream LLC issued 300 million Debt in May 2009 Increase…
Appendix B Project & Other Information Natural Gas. Right Here, Right Now.
East Tennessee Natural Gas Northeastern Tennessee Project East Tennessee NET Project Total project Capex 135 million Primary spend in 2011 Filed project with FERC March 2010 Precedent agreement with TVA signed Gas service to a new…
Market Hub Partners Moss Bluff Cavern 4 Moss Bluff is a key player in the Texas intrastate and interstate markets Moss Bluff Cavern 4 SEPs share of total project Capex: 60 million Permitted by Texas Railroad Commission Cavern…
Market Hub Partners Egan Cavern 3 Egan is a premier salt cavern storage asset Egan Cavern 3 SEPs share of total project Capex: 80 million Cavern development process continuing Project Name Description In Service Egan Cavern 3…
Gulfstream Natural Gas Phase V Expansion Gulfstream provides solid revenue base from long-term contracts Gulfstream Phase V SEPs share of total project Capex: 12 million 35,000 Dth/d of new firm service Initial in-service…
www.spectraenergypartners.com Natural Gas. Right Here, Right Now.
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