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Segment Information (Tables)
6 Months Ended
Jun. 30, 2013
Segment Information  
Schedule of Segment Reporting Information, by Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gathering and Processing

 

Transportation and Treating

 

Corporate  and Other

 

Consolidated

Three Months Ended June 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

Revenues – third party(1) 

$

532,435 

 

$

1,451 

 

$

26,976 

 

$

560,862 

Revenues – affiliates

 

77 

 

 

 -

 

 

 -

 

 

77 

Total revenues

 

532,512 

 

 

1,451 

 

 

26,976 

 

 

560,939 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating costs and expenses

 

448,663 

 

 

323 

 

 

 -

 

 

448,986 

General and administrative(1)  `

 

 -

 

 

 -

 

 

12,546 

 

 

12,546 

Other costs

 

 -

 

 

 -

 

 

18,370 

 

 

18,370 

Depreciation and amortization

 

43,997 

 

 

2,184 

 

 

202 

 

 

46,383 

Interest expense(1) 

 

 -

 

 

 -

 

 

22,581 

 

 

22,581 

Total costs and expenses

 

492,660 

 

 

2,507 

 

 

53,699 

 

 

548,866 

Equity income in joint venture

 

(2,159)

 

 

1,687 

 

 

 -

 

 

(472)

Loss on asset disposition

 

(1,519)

 

 

 -

 

 

 -

 

 

(1,519)

Loss on early extinguishment of debt

 

 -

 

 

 -

 

 

(19)

 

 

(19)

Income (loss) before tax

 

36,174 

 

 

631 

 

 

(26,742)

 

 

10,063 

Income tax benefit

 

28 

 

 

 -

 

 

 -

 

 

28 

Net income (loss)

$

36,202 

 

$

631 

 

$

(26,742)

 

$

10,091 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2012:

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

Revenues – third party(1) 

$

257,253 

 

$

 -

 

$

66,739 

 

$

323,992 

Revenues – affiliates

 

122 

 

 

 -

 

 

 -

 

 

122 

Total revenues

 

257,375 

 

 

 -

 

 

66,739 

 

 

324,114 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating costs and expenses

 

209,925 

 

 

(10)

 

 

 -

 

 

209,915 

General and administrative(1) 

 

 -

 

 

 -

 

 

10,445 

 

 

10,445 

Other costs

 

(161)

 

 

 -

 

 

 -

 

 

(161)

Depreciation and amortization

 

21,712 

 

 

 -

 

 

 -

 

 

21,712 

Interest expense(1) 

 

 -

 

 

 -

 

 

9,269 

 

 

9,269 

Total costs and expenses

 

231,476 

 

 

(10)

 

 

19,714 

 

 

251,180 

Equity income in joint venture

 

 -

 

 

1,917 

 

 

 -

 

 

1,917 

Net income

$

25,899 

 

$

1,927 

 

$

47,025 

 

$

74,851 

_________________________________

(1)

The Partnership notes derivative contracts are carried at the corporate level and interest and general and administrative expenses have not been allocated to its reportable segments as it would be unfeasible to reasonably do so for the periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gathering and Processing

 

Transportation and Treating

 

Corporate  and Other

 

Consolidated

Six Months Ended June 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

Revenues – third party(1) 

$

951,042 

 

$

2,884 

 

$

14,777 

 

$

968,703 

Revenues – affiliates

 

148 

 

 

 -

 

 

 -

 

 

148 

Total revenues

 

951,190 

 

 

2,884 

 

 

14,777 

 

 

968,851 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating costs and expenses

 

795,718 

 

 

667 

 

 

 -

 

 

796,385 

General and administrative(1)  `

 

 -

 

 

 -

 

 

26,344 

 

 

26,344 

Other costs

 

 -

 

 

 -

 

 

18,900 

 

 

18,900 

Depreciation and amortization

 

73,968 

 

 

2,452 

 

 

421 

 

 

76,841 

Interest expense(1) 

 

 -

 

 

 -

 

 

41,267 

 

 

41,267 

Total costs and expenses

 

869,686 

 

 

3,119 

 

 

86,932 

 

 

959,737 

Equity income in joint venture

 

(2,159)

 

 

3,727 

 

 

 -

 

 

1,568 

Loss on asset disposition

 

(1,519)

 

 

 -

 

 

 -

 

 

(1,519)

Loss on early extinguishment of debt

 

 -

 

 

 -

 

 

(26,601)

 

 

(26,601)

Income (loss) before tax

 

77,826 

 

 

3,492 

 

 

(98,756)

 

 

(17,438)

Income tax benefit

 

37 

 

 

 -

 

 

 -

 

 

37 

Net income (loss)

$

77,863 

 

$

3,492 

 

$

(98,756)

 

$

(17,401)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2012:

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

Revenues – third party(1) 

$

562,641 

 

$

 -

 

$

53,558 

 

$

616,199 

Revenues – affiliates

 

201 

 

 

 -

 

 

 -

 

 

201 

Total revenues

 

562,842 

 

 

 -

 

 

53,558 

 

 

616,400 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating costs and expenses

 

457,092 

 

 

73 

 

 

 -

 

 

457,165 

General and administrative(1) 

 

 -

 

 

 -

 

 

20,390 

 

 

20,390 

Other costs

 

(195)

 

 

 -

 

 

 -

 

 

(195)

Depreciation and amortization

 

42,554 

 

 

 -

 

 

 -

 

 

42,554 

Interest expense(1) 

 

 -

 

 

 -

 

 

17,977 

 

 

17,977 

Total costs and expenses

 

499,451 

 

 

73 

 

 

38,367 

 

 

537,891 

Equity income in joint venture

 

 -

 

 

2,813 

 

 

 -

 

 

2,813 

Net income

$

63,391 

 

$

2,740 

 

$

15,191 

 

$

81,322 

_________________________________

(1)

The Partnership notes derivative contracts are carried at the corporate level and interest and general and administrative expenses have not been allocated to its reportable segments as it would be unfeasible to reasonably do so for the periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

Capital Expenditures:

2013

 

2012

 

2013

 

2012

Gathering and processing

$

105,972 

 

$

65,221 

 

$

213,594 

 

$

146,388 

Transportation and treating

 

22 

 

 

 -

 

 

144 

 

 

 -

Corporate and other

 

1,199 

 

 

 -

 

 

1,971 

 

 

 -

 

$

107,193 

 

$

65,221 

 

$

215,709 

 

$

146,388 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

Balance Sheet

2013

 

2012

Equity method investment in joint ventures:

 

 

 

 

 

Gathering and processing

$

145,961 

 

$

 -

Transportation and treating

 

86,129 

 

 

86,002 

 

$

232,090 

 

$

86,002 

Goodwill:

 

 

 

 

 

Gathering and processing

 

458,458 

 

 

292,448 

Transportation and treating

 

43,863 

 

 

26,837 

 

$

502,321 

 

$

319,285 

Total assets:

 

 

 

 

 

Gathering and processing

$

3,946,025 

 

$

2,831,639 

Transportation and treating

 

176,811 

 

 

141,356 

Corporate and other

 

181,338 

 

 

92,643 

 

$

4,304,174 

 

$

3,065,638 

 

Schedule Of Natural Gas And Liquids Sales, by Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

 

2013

 

2012

 

2013

 

2012

Natural gas and liquids sales:

 

 

 

 

 

 

 

 

 

 

 

Natural gas

$

191,885 

 

$

69,939 

 

$

333,369 

 

$

148,644 

NGLs 

 

270,240 

 

 

149,160 

 

 

488,071 

 

 

337,854 

Condensate 

 

30,444 

 

 

21,925 

 

 

55,009 

 

 

44,023 

Other

 

(1,339)

 

 

(2,223)

 

 

(1,371)

 

 

(2,495)

Total

$

491,230 

 

$

238,801 

 

$

875,078 

 

$

528,026