1st 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.
1st Quarter Financial Highlights Strong first quarter results Growth from our completed projects Contribution from Ozark Net income of 39.1 million 37% increase over 1st Qtr 2009 Earnings per limited partner unit 0.46 Cash…
Gas Transportation and Storage ( millions) Three Months Ended March 31, 2010 2009 Operating Revenues 50.5 35.6 Operating Expenses 23.0 15.7 Operating Income 27.5 19.9 Other Income - - EBIT 27.5 19.9 Growth continues…
Gulfstream Natural Gas ( millions) Three Months Ended March 31, 2010 2009 Operating Revenues 67.3 56.2 Operating Expenses 17.1 16.1 Operating Income 50.2 40.1 Interest Expense and Other (17.2) (12.1) Net Income 100% 33.0…
Market Hub Partners (MHP) ( millions) Three Months Ended March 31, 2010 2009 Operating Revenues 29.1 27.9 Operating Expenses 9.2 7.9 Operating Income 19.9 20.0 Interest Inc(Exp) and Other 0.6 (0.1) Net Income 100% 20.5 19.9…
Cash Available for Distribution (CAD) ( millions) Three Months Ended March 31, 2010 2009 Adjusted EBITDA 32.4 22.7 Add: Cash available from equity investments Gulfstream 14.4 11.9 Market Hub Partners 11.6 10.9 Preliminary…
Business Update Gregory J. Rizzo President and Chief Executive Officer Natural Gas. Right Here, Right Now.
Key Accomplishments East Tennessee signed agreement with TVA for the Northeastern Tennessee (NET) Project in March 2010 150,000 Dth/day gas service 135 million Capex NET Project filed with the FERC in March 2010 Gulfstream Phase…
Balanced Growth Strategy 40 Balanced Growth Strategy Asset optimization Organic growth of fee-based businesses Distribution per LP Unit (in cents) 35 Strategic acquisitions 30 Distribution growth continues Ten consecutive…
www.spectraenergypartners.com Natural Gas. Right Here, Right Now.
Appendix A Other Financial Information Natural Gas. Right Here, Right Now.
Debt and Available Liquidity SEP maintains a strong financial position ( millions) March 31, 2010 December 31, 2009 Debt East Tennessee Natural Gas (5.71%; Due 2012) 150 150 Other Floating Rate Debt 268 268 Total Debt 418 418…
Debt Schedule ( millions) March 31, 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) 28 Total Debt 418…
Appendix B Project & Other Information Natural Gas. Right Here, Right Now.
East Tennessee Natural Gas, LLC Northeastern Tennessee Project East Tennessee NET Project Filed project with FERC March 2010 Precedent agreement with TVA signed Gas service to the TVAs John Sevier generation plant in Hawkins County,…
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 the premier salt cavern asset in North America Egan Cavern 3: SEPs share of total project Capex: 80 million Cavern development process continuing Initial 6 Bcf of working capacity…
Gulfstream Natural Gas Phase V Expansion 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 project Capex: 12…
www.spectraenergypartners.com Natural Gas. Right Here, Right Now.
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