Delaware
|
|
001-34831
|
|
80-0534394
|
(State or other jurisdiction of incorporation or organization)
|
|
(Commission File No.)
|
|
(IRS Employer Identification No.)
|
525 Central Park Drive, Oklahoma City, Oklahoma
|
|
73105
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
(877) 413-1023
|
|
|
(Registrant’s telephone number, including area code)
|
|
|
|
ACCESS MIDSTREAM PARTNERS, L.P.
|
|
|
By: Access Midstream Partners GP, L.L.C.,
its general partner
|
|
|
|
|
By:
|
/S/ David C. Shiels
|
|
|
David C. Shiels
Chief Financial Officer
|
Access Midstream Partners, L.P. Press Release dated October 29, 2013.
|
News Release
|
![]() |
INVESTOR CONTACT:
|
MEDIA CONTACTS:
|
ACCESS MIDSTREAM
|
|
Dave Shiels, CFO
(405) 727-1740
dave.shiels@accessmidstream.com
|
Debbie Nauser
(405) 727-1612
debbie.nauser@accessmidstream.com
|
Tom Johnson
(212) 371-5999
tbj@abmac.com
|
525 Central Park Drive
Oklahoma City, OK 73105
|
· | The Partnership’s operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to capital structure, historical cost basis or financing methods; |
· | The Partnership’s ability to incur and service debt and fund capital expenditures; |
· | The ability of the Partnership’s assets to generate sufficient cash flow to make distributions to unitholders; and |
· | The viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities. |
· | Addition of interest income; |
· | Subtraction of net cash paid for interest expense; |
· | Subtraction of maintenance capital expenditures; and |
· | Subtraction of income taxes. |
|
Three Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Revenues(1)
|
$
|
260,943
|
$
|
156,092
|
||||
|
||||||||
Operating Expenses
|
||||||||
Operating expenses
|
83,533
|
49,805
|
||||||
Depreciation and amortization expense
|
77,086
|
41,163
|
||||||
General and administrative expense
|
24,470
|
15,283
|
||||||
Other operating income
|
(239
|
)
|
(628
|
)
|
||||
|
||||||||
Total operating expenses
|
184,850
|
105,623
|
||||||
|
||||||||
Operating income
|
76,093
|
50,469
|
||||||
|
||||||||
Other income (expense)
|
||||||||
Income from unconsolidated affiliates
|
32,835
|
15,724
|
||||||
(28,600
|
)
|
(15,219
|
)
|
|||||
236
|
115
|
|||||||
|
||||||||
Income before income tax expense
|
80,564
|
51,089
|
||||||
Income tax expense
|
1,353
|
861
|
||||||
|
||||||||
Net income
|
79,211
|
50,228
|
||||||
Net income attributable to noncontrolling interests
|
994
|
—
|
||||||
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
78,217
|
$
|
50,228
|
||||
|
||||||||
Limited partner interest in net income
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
78,217
|
$
|
50,228
|
||||
Less general partner interest in net income
|
(12,591
|
)
|
(2,364
|
)
|
||||
|
||||||||
Limited partner interest in net income
|
$
|
65,626
|
$
|
47,864
|
||||
|
||||||||
Net income per limited partner unit – basic and diluted
|
||||||||
Common units
|
$
|
0.22
|
$
|
0.32
|
||||
Subordinated units
|
$
|
0.33
|
$
|
0.32
|
||||
|
||||||||
Weighted average limited partner units outstanding used for net income per unit calculation – basic and diluted (in thousands)
|
||||||||
Common units
|
144,248
|
79,434
|
||||||
Subordinated units
|
33,787
|
69,076
|
(1) | Excludes revenues from equity investments of $66.5 million and $35.2 million for the three months ended September 30, 2013 and 2012, respectively that is included in Income from Unconsolidated Affiliates. |
|
Nine Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Revenues(1)
|
$
|
745,144
|
$
|
460,098
|
||||
|
||||||||
Operating Expenses
|
||||||||
Operating expenses
|
249,140
|
143,218
|
||||||
Depreciation and amortization expense
|
215,605
|
120,323
|
||||||
General and administrative expense
|
73,293
|
38,326
|
||||||
Other operating (income) expense
|
1,744
|
(433
|
)
|
|||||
|
||||||||
Total operating expenses
|
539,782
|
301,434
|
||||||
|
||||||||
Operating income
|
205,362
|
158,664
|
||||||
|
||||||||
Other income (expense)
|
||||||||
Income from unconsolidated affiliates
|
91,588
|
44,682
|
||||||
Interest expense
|
(83,394
|
)
|
(46,813
|
)
|
||||
Other income
|
631
|
174
|
||||||
|
||||||||
Income before income tax expense
|
214,187
|
156,707
|
||||||
Income tax expense
|
3,853
|
2,507
|
||||||
|
||||||||
Net income
|
210,334
|
154,200
|
||||||
Net income attributable to noncontrolling interests
|
3,366
|
—
|
||||||
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
206,968
|
$
|
154,200
|
||||
|
||||||||
Limited partner interest in net income
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
206,968
|
$
|
154,200
|
||||
Less general partner interest in net income
|
(23,378
|
)
|
(5,545
|
)
|
||||
|
||||||||
Limited partner interest in net income
|
$
|
183,590
|
$
|
148,655
|
||||
|
||||||||
Net income per limited partner unit – basic and diluted
|
||||||||
Common units
|
$
|
0.54
|
$
|
1.00
|
||||
Subordinated units
|
$
|
0.93
|
$
|
1.00
|
||||
|
||||||||
Weighted average limited partner units outstanding used for net income per unit calculation – basic and diluted (in thousands)
|
||||||||
Common units
|
117,282
|
79,330
|
||||||
Subordinated units
|
57,184
|
69,076
|
(1) | Excludes revenues from equity investments of $173.0 million and $98.5 million for the nine months ended September 30, 2013 and 2012, respectively that is included in Income from Unconsolidated Affiliates. |
|
As of
September 30,
2013
|
As of
December 31,
2012
|
||||||
Assets
|
||||||||
|
||||||||
Total current assets
|
$
|
204,691
|
$
|
219,766
|
||||
|
||||||||
Property, plant and equipment
|
||||||||
Gathering systems
|
5,745,115
|
5,125,746
|
||||||
Other fixed assets
|
139,468
|
96,916
|
||||||
Less: Accumulated depreciation
|
(785,354
|
)
|
(590,614
|
)
|
||||
|
||||||||
Total property, plant and equipment, net
|
5,099,229
|
4,632,048
|
||||||
|
||||||||
Investment in unconsolidated affiliates
|
1,827,448
|
1,297,811
|
||||||
379,258
|
355,217
|
|||||||
Deferred loan costs, net
|
61,466
|
56,258
|
||||||
|
||||||||
Total assets
|
$
|
7,572,092
|
$
|
6,561,100
|
||||
|
||||||||
Liabilities and Partners’ Capital
|
||||||||
|
||||||||
Total current liabilities
|
$
|
302,374
|
$
|
259,261
|
||||
|
||||||||
Long-term liabilities
|
||||||||
Long-term debt
|
3,010,693
|
2,500,000
|
||||||
Other liabilities
|
7,853
|
5,333
|
||||||
|
||||||||
Total long-term liabilities
|
3,018,546
|
2,505,333
|
||||||
|
||||||||
Total partners’ capital
|
4,251,172
|
3,796,506
|
||||||
|
||||||||
Total liabilities and partners’ capital
|
$
|
7,572,092
|
$
|
6,561,100
|
|
Nine Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Cash flows from operating activities
|
||||||||
Net income
|
$
|
210,334
|
$
|
154,200
|
||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
215,605
|
120,323
|
||||||
Income from unconsolidated affiliates
|
(91,588
|
)
|
(44,682
|
)
|
||||
8,781
|
5,661
|
|||||||
Distribution of earnings received from unconsolidated affiliates
|
4,737
|
—
|
||||||
Changes in assets and liabilities
|
||||||||
(Increase) decrease in accounts receivable
|
(42,218
|
)
|
12,547
|
|||||
(Increase) decrease in other assets
|
1,721
|
(15,289
|
)
|
|||||
Decrease in accounts payable
|
(12,595
|
)
|
(6,579
|
)
|
||||
Increase in accrued liabilities
|
63,229
|
16,492
|
||||||
|
||||||||
Net cash provided by operating activities
|
358,006
|
242,673
|
||||||
|
||||||||
Cash flows from investing activities
|
||||||||
Additions to property, plant and equipment
|
(811,111
|
)
|
(231,632
|
)
|
||||
Investments in unconsolidated affiliates
|
(425,298
|
)
|
(139,216
|
)
|
||||
Proceeds from sale of assets
|
72,408
|
9,316
|
||||||
|
||||||||
Net cash used in investing activities
|
(1,164,001
|
)
|
(361,532
|
)
|
||||
|
||||||||
Cash flows from financing activities
|
||||||||
Proceeds from long-term borrowings
|
1,445,500
|
847,500
|
||||||
Payments on long-term borrowings
|
(1,340,700
|
)
|
(1,285,900
|
)
|
||||
Proceeds from issuance of common units
|
399,812
|
—
|
||||||
Proceeds from issuance of senior notes
|
414,094
|
750,000
|
||||||
Distribution to unitholders
|
(275,199
|
)
|
(184,639
|
)
|
||||
Capital contribution from noncontrolling interests
|
120,594
|
—
|
||||||
Debt issuance costs
|
(11,735
|
)
|
(13,824
|
)
|
||||
Other adjustments
|
8,598
|
5,720
|
||||||
|
||||||||
Net cash provided by financing activities
|
760,964
|
118,857
|
||||||
|
||||||||
Net decrease in cash and cash equivalents
|
(45,031
|
)
|
(2
|
)
|
||||
|
||||||||
Cash and cash equivalents
|
||||||||
Beginning of period
|
64,994
|
22
|
||||||
|
||||||||
End of period
|
$
|
19,963
|
$
|
20
|
|
Three Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
78,217
|
$
|
50,228
|
||||
|
||||||||
Adjusted for:
|
||||||||
Interest expense
|
28,600
|
15,219
|
||||||
Income tax expense
|
1,353
|
861
|
||||||
Depreciation and amortization expense
|
77,086
|
41,163
|
||||||
(1,257
|
)
|
(628
|
)
|
|||||
Income from unconsolidated affiliates
|
(32,835
|
)
|
(15,724
|
)
|
||||
EBITDA from unconsolidated affiliates(1) (2)
|
52,452
|
28,403
|
||||||
Expense for non-cash equity awards
|
5,847
|
—
|
||||||
Implied minimum volume commitment
|
17,500
|
—
|
||||||
|
||||||||
Adjusted EBITDA
|
$
|
226,963
|
$
|
119,522
|
||||
|
||||||||
Adjusted for:
|
||||||||
Maintenance capital expenditures
|
(27,500
|
)
|
(18,500
|
)
|
||||
Cash portion of interest expense
|
(26,645
|
)
|
(13,868
|
)
|
||||
Income tax expense
|
(1,353
|
)
|
(861
|
)
|
||||
|
||||||||
Distributable cash flow
|
$
|
171,465
|
$
|
86,293
|
||||
|
||||||||
|
||||||||
Cash provided by operating activities
|
$
|
140,426
|
$
|
106,275
|
||||
|
||||||||
Adjusted for:
|
||||||||
Change in assets and liabilities
|
(10,122
|
)
|
(28,656
|
)
|
||||
Distribution of earnings received from unconsolidated affiliates
|
(4,737
|
)
|
—
|
|||||
Interest expense
|
28,600
|
15,219
|
||||||
Income tax expense
|
1,353
|
861
|
||||||
Other non-cash items
|
(4,356
|
)
|
(2,580
|
)
|
||||
EBITDA from unconsolidated affiliates(1) (2)
|
52,452
|
28,403
|
||||||
Expense for non-cash equity awards
|
5,847
|
—
|
||||||
Implied minimum volume commitment
|
17,500
|
—
|
||||||
|
||||||||
Adjusted EBITDA
|
$
|
226,963
|
$
|
119,522
|
||||
|
||||||||
Adjusted for:
|
||||||||
Maintenance capital expenditures
|
(27,500
|
)
|
(18,500
|
)
|
||||
Cash portion of interest expense
|
(26,645
|
)
|
(13,868
|
)
|
||||
Income tax expense
|
(1,353
|
)
|
(861
|
)
|
||||
|
||||||||
Distributable cash flow
|
$
|
171,465
|
$
|
86,293
|
||||
|
||||||||
|
||||||||
Cash distribution
|
||||||||
Limited partner units
2013: ($0.535 x 188,047,721 units) 2012: ($0.435 x 147,998,610 units) |
$
|
100,606
|
$
|
64,380
|
||||
General partner interest
|
13,304
|
2,701
|
||||||
|
||||||||
Total cash distribution
|
$
|
113,910
|
$
|
67,081
|
||||
|
||||||||
Distribution coverage ratio
|
1.51
|
1.29
|
(1) | EBITDA from unconsolidated affiliates is calculated as follows: |
Net Income
|
$
|
32,835
|
$
|
15,724
|
||||
|
||||||||
Adjusted for:
|
||||||||
Depreciation and amortization expense
|
19,624
|
12,742
|
||||||
Other
|
(7
|
)
|
(63
|
)
|
||||
|
||||||||
EBITDA from unconsolidated affiliates
|
$
|
52,452
|
$
|
28,403
|
(2) | The Partnership maintains equity investments in 10 gathering systems in the Marcellus Shale, Utica East Ohio Midstream, LLC. and Ranch Westex JV, LLC. |
|
Nine Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
206,968
|
$
|
154,200
|
||||
|
||||||||
Adjusted for:
|
||||||||
Interest expense
|
83,394
|
46,813
|
||||||
Income tax expense
|
3,853
|
2,507
|
||||||
Depreciation and amortization expense
|
215,605
|
120,323
|
||||||
Other
|
(1,577
|
)
|
(433
|
)
|
||||
Income from unconsolidated affiliates
|
(91,588
|
)
|
(44,682
|
)
|
||||
EBITDA from unconsolidated affiliates(1) (2)
|
141,662
|
80,121
|
||||||
Expense for non-cash equity awards
|
22,170
|
—
|
||||||
Implied minimum volume commitment
|
37,500
|
—
|
||||||
|
||||||||
Adjusted EBITDA
|
$
|
617,987
|
$
|
358,849
|
||||
|
||||||||
Adjusted for:
|
||||||||
Maintenance capital expenditures
|
(82,500
|
)
|
(55,500
|
)
|
||||
Cash portion of interest expense
|
(76,852
|
)
|
(42,835
|
)
|
||||
Income tax expense
|
(3,853
|
)
|
(2,507
|
)
|
||||
|
||||||||
Distributable cash flow
|
$
|
454,782
|
$
|
258,007
|
||||
|
||||||||
|
||||||||
Cash provided by operating activities
|
$
|
358,006
|
$
|
242,673
|
||||
|
||||||||
Adjusted for:
|
||||||||
Change in assets and liabilities
|
(10,137
|
)
|
(7,171
|
)
|
||||
Distribution of earnings received from unconsolidated affiliates
|
(4,737
|
)
|
—
|
|||||
Interest expense
|
83,394
|
46,813
|
||||||
Income tax expense
|
3,853
|
2,507
|
||||||
Other non-cash items
|
(13,724
|
)
|
(6,094
|
)
|
||||
EBITDA from unconsolidated affiliates(1) (2)
|
141,662
|
80,121
|
||||||
Expense for non-cash equity awards
|
22,170
|
—
|
||||||
Implied minimum volume commitment
|
37,500
|
—
|
||||||
|
||||||||
Adjusted EBITDA
|
$
|
617,987
|
$
|
358,849
|
||||
|
||||||||
Adjusted for:
|
||||||||
Maintenance capital expenditures
|
(82,500
|
)
|
(55,500
|
)
|
||||
Cash portion of interest expense
|
(76,852
|
)
|
(42,835
|
)
|
||||
Income tax expense
|
(3,853
|
)
|
(2,507
|
)
|
||||
|
||||||||
Distributable cash flow
|
$
|
454,782
|
$
|
258,007
|
(1)
|
EBITDA from unconsolidated affiliates is calculated as follows:
|
Net Income
|
$
|
91,588
|
$
|
44,682
|
||||
|
||||||||
Adjusted for:
|
||||||||
Depreciation and amortization expense
|
50,097
|
35,530
|
||||||
Other
|
(23
|
)
|
(91
|
)
|
||||
|
||||||||
EBITDA from unconsolidated affiliates
|
$
|
141,662
|
$
|
80,121
|
(2)
|
The Partnership maintains equity investments in 10 gathering systems in the Marcellus Shale, Utica East Ohio Midstream, LLC. and Ranch Westex JV, LLC.
|
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
||||||||||||||
|
2013
|
2012
|
2013
|
2012
|
||||||||||||
($ in thousands)
|
||||||||||||||||
GAAP capital expenditures
|
$
|
265,517
|
$
|
90,711
|
$
|
811,111
|
$
|
231,632
|
||||||||
Adjusted for:
|
||||||||||||||||
Capital expenditures included in unconsolidated affiliates
|
180,286
|
115,536
|
535,964
|
290,717
|
||||||||||||
Capital expenditures attributable to noncontrolling interest
|
(46,862
|
)
|
—
|
(114,208
|
)
|
—
|
||||||||||
Net capital expenditures
|
$
|
398,941
|
$
|
206,247
|
$
|
1,232,867
|
$
|
522,349
|
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
||||||||||||||
|
2013
|
2012
|
2013
|
2012
|
||||||||||||
($ in thousands)
|
||||||||||||||||
Revenues
|
$
|
260,943
|
$
|
156,092
|
$
|
745,144
|
$
|
460,098
|
||||||||
Adjusted for:
|
||||||||||||||||
Revenues included in investments in unconsolidated affiliates
|
66,525
|
35,112
|
173,035
|
98,457
|
||||||||||||
Total revenues including revenues from equity investments
|
$
|
327,468
|
$
|
191,204
|
$
|
918,179
|
$
|
558,555
|
|
Three Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Barnett Shale
|
||||||||
Operating income
|
45,806
|
54,790
|
||||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
11,337
|
21,619
|
||||||
1.064
|
1.236
|
|||||||
Approximate miles of pipe at end of period
|
858
|
845
|
||||||
Gas compression (horsepower) at end of period
|
154,495
|
161,115
|
||||||
|
||||||||
Eagle Ford Shale
|
||||||||
Operating income
|
46,405
|
—
|
||||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
80,794
|
—
|
||||||
Throughput, bcf per day
|
0.295
|
—
|
||||||
Approximate miles of pipe at end of period
|
804
|
—
|
||||||
Gas compression (horsepower) at end of period
|
77,672
|
—
|
||||||
|
||||||||
Haynesville Shale
|
||||||||
Operating income
|
(2,251
|
)
|
3,990
|
|||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
2,947
|
5,625
|
||||||
Throughput, bcf per day
|
0.632
|
0.325
|
||||||
Approximate miles of pipe at end of period
|
581
|
263
|
||||||
Gas compression (horsepower) at end of period
|
20,195
|
23,745
|
||||||
|
||||||||
Marcellus Shale
|
||||||||
Operating income
|
434
|
—
|
||||||
Income from unconsolidated affiliates
|
33,925
|
15,724
|
||||||
Capital expenditures(1)
|
75,310
|
115,536
|
||||||
Throughput, bcf per day(2)
|
1.065
|
0.691
|
||||||
Approximate miles of pipe at end of period
|
1,389
|
458
|
||||||
Gas compression (horsepower) at end of period
|
99,905
|
50,950
|
||||||
|
||||||||
Niobrara Shale
|
||||||||
Operating income
|
(478
|
)
|
—
|
|||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
10,419
|
—
|
||||||
Throughput, bcf per day(2)
|
0.016
|
—
|
||||||
Approximate miles of pipe at end of period
|
123
|
—
|
||||||
Gas compression (horsepower) at end of period
|
15,665
|
—
|
||||||
|
||||||||
Utica Shale
|
||||||||
Operating income
|
8,435
|
—
|
||||||
Income from unconsolidated affiliates
|
(1,453
|
)
|
—
|
|||||
Capital expenditures(1)
|
169,317
|
—
|
||||||
Throughput, bcf per day(2)
|
0.140
|
—
|
||||||
Approximate miles of pipe at end of period
|
220
|
—
|
||||||
Gas compression (horsepower) at end of period
|
57,730
|
—
|
||||||
|
||||||||
Mid-Continent
|
||||||||
Operating income
|
12,880
|
12,842
|
||||||
Income from unconsolidated affiliates
|
363
|
—
|
||||||
Capital expenditures(1)
|
21,838
|
58,352
|
||||||
Throughput, bcf per day
|
0.584
|
0.573
|
||||||
Approximate miles of pipe at end of period
|
2,791
|
2,589
|
||||||
Gas compression (horsepower) at end of period
|
108,410
|
99,394
|
||||||
|
||||||||
Corporate
|
||||||||
Operating income
|
(35,138
|
)
|
(21,153
|
)
|
||||
Capital expenditures(1)
|
26,979
|
5,115
|
||||||
|
||||||||
Total
|
||||||||
Operating income
|
76,093
|
50,469
|
||||||
Income from unconsolidated affiliates
|
32,835
|
15,724
|
||||||
Capital expenditures(1)
|
398,941
|
206,247
|
||||||
Throughput, bcf per day(2)
|
3.796
|
2.825
|
||||||
Approximate miles of pipe at end of period
|
6,766
|
4,155
|
||||||
Gas compression (horsepower) at end of period
|
534,072
|
335,204
|
(1) | Includes capital expenditures accounted for as part of the Partnership’s equity investments and excludes capital expenditures attributable to noncontrolling interests. See page 11 of this release for required reconciliation to GAAP capital expenditures. |
(2) | Throughput in all regions represents the net throughput allocated to the Partnership’s interest. |
|
Nine Months Ended
September 30,
|
|||||||
|
2013
|
2012
|
||||||
Barnett Shale
|
||||||||
Operating income
|
133,457
|
161,844
|
||||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
45,736
|
80,613
|
||||||
Throughput, bcf per day
|
1.051
|
1.259
|
||||||
Approximate miles of pipe at end of period
|
858
|
845
|
||||||
Gas compression (horsepower) at end of period
|
154,495
|
161,115
|
||||||
|
||||||||
Eagle Ford Shale
|
||||||||
Operating income
|
119,316
|
—
|
||||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
246,153
|
—
|
||||||
Throughput, bcf per day
|
0.260
|
—
|
||||||
Approximate miles of pipe at end of period
|
804
|
—
|
||||||
Gas compression (horsepower) at end of period
|
77,672
|
—
|
||||||
|
||||||||
Haynesville Shale
|
||||||||
Operating income
|
2,663
|
15,948
|
||||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
13,509
|
17,481
|
||||||
Throughput, bcf per day
|
0.698
|
0.363
|
||||||
Approximate miles of pipe at end of period
|
581
|
263
|
||||||
Gas compression (horsepower) at end of period
|
20,195
|
23,745
|
||||||
|
||||||||
Marcellus Shale
|
||||||||
Operating income
|
5,219
|
—
|
||||||
Income from unconsolidated affiliates
|
93,663
|
44,682
|
||||||
Capital expenditures(1)
|
244,686
|
290,717
|
||||||
Throughput, bcf per day(2)
|
0.976
|
0.648
|
||||||
Approximate miles of pipe at end of period
|
1,389
|
458
|
||||||
Gas compression (horsepower) at end of period
|
99,905
|
50,950
|
||||||
|
||||||||
Niobrara Shale
|
||||||||
Operating income
|
(1,110
|
)
|
—
|
|||||
Income from unconsolidated affiliates
|
—
|
—
|
||||||
Capital expenditures(1)
|
22,018
|
—
|
||||||
Throughput, bcf per day(2)
|
0.012
|
—
|
||||||
Approximate miles of pipe at end of period
|
123
|
—
|
||||||
Gas compression (horsepower) at end of period
|
15,665
|
—
|
||||||
|
||||||||
Utica Shale
|
||||||||
Operating income
|
12,889
|
—
|
||||||
Income from unconsolidated affiliates
|
(2,543
|
)
|
—
|
|||||
Capital expenditures(1)
|
457,291
|
—
|
||||||
Throughput, bcf per day(2)
|
0.090
|
—
|
||||||
Approximate miles of pipe at end of period
|
220
|
—
|
||||||
Gas compression (horsepower) at end of period
|
57,730
|
—
|
||||||
|
||||||||
Mid-Continent
|
||||||||
Operating income
|
46,614
|
38,549
|
||||||
Income from unconsolidated affiliates
|
468
|
—
|
||||||
Capital expenditures(1)
|
92,516
|
113,048
|
||||||
Throughput, bcf per day
|
0.584
|
0.562
|
||||||
Approximate miles of pipe at end of period
|
2,791
|
2,589
|
||||||
Gas compression (horsepower) at end of period
|
108,410
|
99,394
|
||||||
|
||||||||
Corporate
|
||||||||
Operating income
|
(113,686
|
)
|
(57,677
|
)
|
||||
Capital expenditures(1)
|
110,958
|
20,490
|
||||||
|
||||||||
Total
|
||||||||
Operating income
|
205,362
|
158,664
|
||||||
Income from unconsolidated affiliates
|
91,588
|
44,682
|
||||||
Capital expenditures(1)
|
1,232,867
|
522,349
|
||||||
Throughput, bcf per day(2)
|
3.671
|
2.832
|
||||||
Approximate miles of pipe at end of period
|
6,766
|
4,155
|
||||||
Gas compression (horsepower) at end of period
|
534,072
|
335,204
|
(1) | Includes capital expenditures accounted for as part of the Partnership’s equity investments and excludes capital expenditures attributable to noncontrolling interests. See page 11 of this release for required reconciliation to GAAP capital expenditures. |
(2) | Throughput in all regions represents the net throughput allocated to the Partnership’s interest. |