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
|
99.1
|
Access Midstream Partners, L.P. press release dated February 19, 2013
|
NEWS RELEASE
|
![]() |
|
FOR IMMEDIATE RELEASE
|
||
FEBRUARY 19, 2013
|
INVESTOR CONTACT:
|
MEDIA CONTACTS:
|
ACCESS MIDSTREAM
|
||||
Dave Shiels, CFO
|
Debbie Nauser
|
Tom Johnson
|
525 Central Park Drive
|
|||
(405) 935-6224
|
(405) 935-1739
|
(212) 371-5999
|
Oklahoma City, OK 73105
|
|||
dave.shiels@accessmidstream.com
|
debbie.nauser@accessmidstream.com
|
tbj@abmac.com
|
·
|
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
December 31,
|
||||||||
2012
|
2011
|
|||||||
Revenues, including revenues from affiliates (1)
|
$
|
148,349
|
$
|
169,078
|
||||
Operating expenses
|
||||||||
Operating expenses, including expenses from affiliates
|
54,421
|
46,773
|
||||||
Depreciation and amortization expense
|
45,194
|
37,463
|
||||||
General and administrative expense, including expenses from
affiliates
|
29,253
|
12,835
|
||||||
Other operating income
|
(333
|
)
|
(84
|
)
|
||||
Total operating expenses
|
128,535
|
96,987
|
||||||
Operating income
|
19,814
|
72,091
|
||||||
Other income (expense)
|
||||||||
Income from unconsolidated affiliates
|
22,860
|
433
|
||||||
Interest expense
|
(17,926
|
)
|
(5,357
|
)
|
||||
Other income
|
146
|
66
|
||||||
Income before income tax expense
|
24,894
|
67,233
|
||||||
Income tax expense
|
707
|
928
|
||||||
|
||||||||
Net income
|
24,187
|
66,305
|
||||||
Net loss attributable to noncontrolling interests
|
(68
|
)
|
—
|
|||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
24,255
|
$
|
66,305
|
||||
Limited partner interest in net income
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
24,255
|
66,305
|
||||||
Less general partner interest in net income
|
(2,934
|
)
|
(2,510
|
)
|
||||
Limited partner interest in net income
|
21,321
|
63,795
|
||||||
Net income per limited partner unit – basic and diluted
|
||||||||
Common units
|
0.11
|
0.46
|
||||||
Subordinated units
|
0.14
|
0.46
|
||||||
Class B units
|
0.14
|
—
|
||||||
Class C units
|
0.14
|
—
|
||||||
Weighted average limited partner units outstanding used for net
income per unit calculation – basic and diluted (in thousands)
|
||||||||
Common units
|
82,230
|
69,678
|
||||||
Subordinated units
|
69,076
|
69,076
|
||||||
Class B units
|
1,547
|
—
|
||||||
Class C units
|
1,461
|
—
|
(1)
|
Excludes revenue from Marcellus assets of $42.1 million for the twelve months ended December 31, 2012 that is included in Income from Unconsolidated Affiliates.
|
If either Chesapeake Energy Corporation (“Chesapeake”) or Total E&P USA, Inc. (“Total”) does not meet its minimum volume commitment to thePartnership in the Barnett Shale region or Chesapeake does not meet its minimum volume commitment in the Haynesville Shale region under the relevant gas gathering agreement for specified annual periods, Chesapeake or Total is obligated to pay the Partnership a fee equal to the applicable fee for each mcf by which the applicable party’s minimum volume commitment for the year exceeds the actual volumes gathered on the Partnership’s systems. Should payments be due under the minimum volume commitment with respect to any year, the Partnership recognizes the associated revenue in the fourth quarter of that year. The Partnership recognized $17.4 million in the 2011 fourth quarter. No revenue associated with minimum volume commitments was recognized in 2012 as volumes exceeded commitment levels.
|
Twelve Months Ended
December 31,
|
||||||||
2012
|
2011
|
|||||||
Revenues, including revenues from affiliates (1)
|
$
|
608,447
|
$
|
565,929
|
||||
Operating expenses
|
||||||||
Operating expenses, including expenses from affiliates
|
197,639
|
176,851
|
||||||
Depreciation and amortization expense
|
165,517
|
136,169
|
||||||
General and administrative expense, including expenses from
affiliates
|
67,579
|
40,380
|
||||||
Other operating (income) expense
|
(766
|
)
|
739
|
|||||
Total operating expenses
|
429,969
|
354,139
|
||||||
Operating income
|
178,478
|
211,790
|
||||||
Other income (expense)
|
||||||||
Income from unconsolidated affiliates
|
67,542
|
433
|
||||||
Interest expense
|
(64,739
|
)
|
(14,884
|
)
|
||||
Other income
|
320
|
287
|
||||||
Income before income tax expense
|
181,601
|
197,626
|
||||||
Income tax expense
|
3,214
|
3,289
|
||||||
|
||||||||
Net income
|
178,387
|
194,337
|
||||||
Net loss attributable to noncontrolling interests
|
(68
|
)
|
—
|
|||||
Net income attributable to Access Midstream Partners, L.P.
|
$
|
178,455
|
$
|
194,337
|
||||
Limited partner interest in net income
|
||||||||
Net income attributable to Access Midstream Partners, L.P.
|
178,455
|
194,337
|
||||||
Less general partner interest in net income
|
(8,481
|
)
|
(5,070
|
)
|
||||
Limited partner interest in net income
|
169,974
|
189,267
|
||||||
Net income per limited partner unit – basic and diluted
|
||||||||
Common units
|
1.11
|
1.37
|
||||||
Subordinated units
|
1.14
|
1.37
|
||||||
Class B units
|
0.14
|
—
|
||||||
Class C units
|
0.14
|
—
|
||||||
Weighted average limited partner units outstanding used for net
income per unit calculation – basic and diluted (in thousands)
|
||||||||
Common units
|
80,059
|
69,371
|
||||||
Subordinated units
|
69,076
|
69,076
|
||||||
Class B units
|
1,547
|
—
|
||||||
Class C units
|
1,461
|
—
|
(1)
|
Excludes revenue from Marcellus assets of $140.5 million for the twelve months ended December 31, 2012 that is included in Income from Unconsolidated Affiliates.
|
|
As of
December 31,
2012
|
As of
December 31,
2011
|
||||||
Assets
|
|
|||||||
Total current assets
|
|
$
|
215,257
|
$
|
88,188
|
|
||
|
||||||||
Property, plant and equipment
|
|
|||||||
Gathering systems
|
|
5,130,255
|
2,954,868
|
|
||||
Other fixed assets
|
|
96,916
|
53,611
|
|
||||
Less: Accumulated depreciation
|
|
(590,614
|
)
|
(480,555
|
)
|
|||
|
||||||||
Total property, plant and equipment, net
|
|
4,636,557
|
2,527,924
|
|
||||
|
||||||||
Investment in unconsolidated affiliates
|
1,297,811
|
886,558
|
||||||
Intangible assets, net
|
355,217
|
158,621
|
||||||
Deferred loan costs, net
|
|
56,258
|
21,947
|
|
||||
Total assets
|
|
$
|
6,561,100
|
$
|
3,683,238
|
|
||
|
||||||||
Liabilities and Partners’ Capital
|
|
|||||||
Total current liabilities
|
|
$
|
259,261
|
$
|
143,094
|
|
||
|
||||||||
Long-term liabilities
|
|
|||||||
Long-term debt
|
|
2,500,000
|
1,062,900
|
|
||||
Other liabilities
|
|
5,333
|
4,099
|
|
||||
|
||||||||
Total long-term liabilities
|
|
2,505,333
|
1,066,999
|
|
||||
|
||||||||
Total partners’ capital
|
|
3,796,506
|
2,473,145
|
|
||||
|
||||||||
Total liabilities and partners’ capital
|
|
$
|
6,561,100
|
$
|
3,683,238
|
|
Twelve Months Ended
December 31,
|
||||||||
2012
|
2011
|
|||||||
Cash flows from operating activities
|
||||||||
Net income
|
$
|
178,387
|
$
|
194,337
|
||||
Adjustments to reconcile net income to net cash provided
by operating activities:
|
||||||||
Depreciation and amortization
|
165,517
|
136,169
|
||||||
Income from unconsolidated affiliates
|
(67,542
|
)
|
(433
|
)
|
||||
Other non-cash items
|
8,296
|
6,486
|
||||||
Changes in assets and liabilities
|
||||||||
Decrease in accounts receivable
|
18,484
|
31,501
|
||||||
Increase in other assets
|
(9,925
|
)
|
(292
|
)
|
||||
Increase in accounts payable
|
8,800
|
11,258
|
||||||
Increase in accrued liabilities
|
16,113
|
19,990
|
||||||
Net cash provided by operating activities
|
318,130
|
399,016
|
||||||
Cash flows from investing activities
|
||||||||
Additions to property, plant and equipment
|
(350,500
|
)
|
(418,834
|
)
|
||||
Acquisition of gathering system assets
|
(2,160,000
|
)
|
—
|
|||||
Investments in unconsolidated affiliates
|
(185,039
|
)
|
(600,000
|
)
|
||||
Proceeds from sale of assets
|
9,574
|
1,730
|
||||||
Net cash used in investing activities
|
(2,685,965
|
)
|
(1,017,104
|
)
|
||||
Cash flows from financing activities
|
||||||||
Proceeds from long-term debt borrowings
|
1,387,800
|
1,576,700
|
||||||
Payments on long-term debt borrowings
|
(2,100,700
|
)
|
(1,112,900
|
)
|
||||
Proceeds from issuance of common units
|
569,255
|
—
|
||||||
Proceeds from issuance of Class B units
|
343,000
|
—
|
||||||
Proceeds from issuance of Class C units
|
343,000
|
—
|
||||||
Proceeds from issuance of senior notes
|
2,150,000
|
350,000
|
||||||
Distribution to unitholders
|
(251,720
|
)
|
(200,897
|
)
|
||||
Debt issuance costs
|
(39,626
|
)
|
(11,332
|
)
|
||||
Initial public offering costs
|
—
|
(1,280
|
)
|
|||||
Other adjustments
|
31,798
|
3
|
||||||
Net cash provided by financing activities
|
2,432,807
|
600,294
|
||||||
Net increase (decrease) in cash and cash
equivalents
|
64,972
|
(17,794
|
)
|
|||||
Cash and cash equivalents
|
||||||||
Beginning of period
|
22
|
17,816
|
||||||
End of period
|
$
|
64,994
|
$
|
22
|
||||
Three Months Ended
December 31,
|
|||||||||
2012
|
2011
|
||||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
24,255
|
$
|
66,305
|
|||||
Adjusted for:
|
|||||||||
Interest expense
|
17,926
|
5,357
|
|||||||
Income tax expense
|
707
|
928
|
|||||||
Depreciation and amortization expense
|
45,194
|
37,463
|
|||||||
Other
|
(387
|
)
|
(84
|
)
|
|||||
Income from unconsolidated affiliates
|
(22,860
|
)
|
(433
|
)
|
|||||
EBITDA from unconsolidated affiliates(1)
|
36,766
|
488
|
|||||||
Acquisition transaction costs
|
17,432
|
—
|
|||||||
Adjusted EBITDA
|
$
|
119,033
|
$
|
110,024
|
|||||
Adjusted for:
|
|||||||||
Maintenance capital expenditures
|
(19,684
|
)
|
(18,500
|
)
|
|||||
Cash portion of interest expense
|
(16,576
|
)
|
(4,168
|
)
|
|||||
Income tax expense
|
(707
|
)
|
(928
|
)
|
|||||
Distributable cash flow
|
82,066
|
86,428
|
|||||||
Adjusted for:
|
|||||||||
Implied minimum volume commitment
|
—
|
(7,479
|
)
|
||||||
Adjusted distributable cash flow
|
$
|
82,066
|
$
|
78,949
|
|||||
Cash provided by operating activities
|
$
|
75,457
|
$
|
100,522
|
|||||
Adjusted for:
|
|||||||||
Change in assets and liabilities
|
(26,301
|
)
|
4,122
|
||||||
Interest expense
|
17,926
|
5,357
|
|||||||
Income tax expense
|
707
|
928
|
|||||||
Other non-cash items
|
(2,954
|
)
|
(1,393
|
)
|
|||||
EBITDA from unconsolidated affiliates(1)
|
36,766
|
488
|
|||||||
Acquisition transaction costs
|
17,432
|
—
|
|||||||
Adjusted EBITDA
|
$
|
119,033
|
$
|
110,024
|
|||||
Adjusted for:
|
|||||||||
Maintenance capital expenditures
|
(19,684
|
)
|
(18,500
|
)
|
|||||
Cash portion of interest expense
|
(16,576
|
)
|
(4,168
|
)
|
|||||
Income tax expense
|
(707
|
)
|
(928
|
)
|
|||||
Distributable cash flow
|
82,066
|
86,428
|
|||||||
Adjusted for:
|
|||||||||
Implied minimum volume commitment
|
—
|
(7,479
|
)
|
||||||
Adjusted distributable cash flow
|
$
|
82,066
|
$
|
78,949
|
|||||
Cash distribution
|
|||||||||
Limited partner units
2012: ($0.45 x 177,648,724 units); 2011: ($0.39 x 147,975,772 units)
|
$
|
79,942
|
$
|
57,711
|
|||||
General partner interest
|
4,131
|
1,221
|
|||||||
Total cash distribution
|
$
|
84,073
|
$
|
58,932
|
|||||
Distribution coverage ratio
|
0.98
|
1.34
|
(1)
|
EBITDA from unconsolidated affiliates is calculated as follows:
|
||||||||
Net Income from unconsolidated affiliates
|
$
|
22,860
|
$
|
433
|
|||||
Adjusted for:
|
|||||||||
Depreciation and amortization expense
|
13,925
|
55
|
|||||||
Other
|
(19
|
)
|
—
|
||||||
EBITDA from unconsolidated affiliates
|
$
|
36,766
|
$
|
488
|
|||||
Twelve Months Ended
December 31,
|
|||||||||
2012
|
2011
|
||||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
178,455
|
$
|
194,337
|
|||||
Adjusted for:
|
|||||||||
Interest expense
|
64,739
|
14,884
|
|||||||
Income tax expense
|
3,214
|
3,289
|
|||||||
Depreciation and amortization expense
|
165,517
|
136,169
|
|||||||
Other
|
(820
|
)
|
739
|
||||||
Income from unconsolidated affiliates
|
(67,542
|
)
|
(433
|
)
|
|||||
EBITDA from unconsolidated affiliates(1)
|
116,887
|
488
|
|||||||
Acquisition transaction costs
|
17,432
|
—
|
|||||||
Adjusted EBITDA
|
$
|
477,882
|
$
|
349,473
|
|||||
Adjusted for:
|
|||||||||
Maintenance capital expenditures
|
(75,184
|
)
|
(74,000
|
)
|
|||||
Cash portion of interest expense
|
(59,411
|
)
|
(10,224
|
)
|
|||||
Income tax expense
|
(3,214
|
)
|
(3,289
|
)
|
|||||
Distributable cash flow
|
340,073
|
261,960
|
|||||||
Adjusted for:
|
|||||||||
Implied minimum volume commitment
|
—
|
—
|
|||||||
Adjusted distributable cash flow
|
$
|
340,073
|
$
|
261,960
|
|||||
Cash provided by operating activities
|
$
|
318,130
|
$
|
399,016
|
|||||
Adjusted for:
|
|||||||||
Change in assets and liabilities
|
(33,472
|
)
|
(62,457
|
)
|
|||||
Interest expense
|
64,739
|
14,884
|
|||||||
Income tax expense
|
3,214
|
3,289
|
|||||||
Other non-cash items
|
(9,048
|
)
|
(5,747
|
)
|
|||||
EBITDA from unconsolidated affiliates(1)
|
116,887
|
488
|
|||||||
Acquisition transaction costs
|
17,432
|
—
|
|||||||
Adjusted EBITDA
|
$
|
477,882
|
$
|
349,473
|
|||||
Adjusted for:
|
|||||||||
Maintenance capital expenditures
|
(75,184
|
)
|
(74,000
|
)
|
|||||
Cash portion of interest expense
|
(59,411
|
)
|
(10,224
|
)
|
|||||
Income tax expense
|
(3,214
|
)
|
(3,289
|
)
|
|||||
Distributable cash flow
|
340,073
|
261,960
|
|||||||
Adjusted for:
|
|||||||||
Implied minimum volume commitment
|
—
|
—
|
|||||||
Adjusted distributable cash flow
|
$
|
340,073
|
$
|
261,960
|
|||||
Cash Distribution
|
|||||||||
Limited partner units
|
$
|
266,412
|
$
|
207,962
|
|||||
General partner interest
|
10,449
|
4,287
|
|||||||
Total cash distribution
|
$
|
276,861
|
$
|
212,249
|
|||||
Distribution coverage ratio
|
1.23
|
1.23
|
(1)
|
EBITDA from unconsolidated affiliates is calculated as follows:
|
||||||||
Net Income from unconsolidated affiliates
|
$
|
67,542
|
$
|
433
|
|||||
Adjusted for:
|
|||||||||
Depreciation and amortization expense
|
49,458
|
55
|
|||||||
Other
|
(113
|
)
|
—
|
||||||
EBITDA from unconsolidated affiliates
|
$
|
116,887
|
$
|
488
|
|||||
Twelve Months Ended
December 31,
|
|||||||||
2013 (Low)
|
2013 (High)
|
||||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
270,000
|
$
|
345,000
|
|||||
Adjusted for:
|
|||||||||
Interest expense
|
200,000
|
150,000
|
|||||||
Income tax expense
|
5,000
|
5,000
|
|||||||
Depreciation and amortization expense
|
325,000
|
350,000
|
|||||||
Adjusted EBITDA
|
$
|
800,000
|
$
|
850,000
|
Twelve Months Ended
December 31,
|
|||||||||
2014 (Low)
|
2014 (High)
|
||||||||
Net Income attributable to Access Midstream Partners, L.P.
|
$
|
345,000
|
$
|
470,000
|
|||||
Adjusted for:
|
|||||||||
Interest expense
|
250,000
|
200,000
|
|||||||
Income tax expense
|
5,000
|
5,000
|
|||||||
Depreciation and amortization expense
|
400,000
|
425,000
|
|||||||
Adjusted EBITDA
|
$
|
1,000,000
|
$
|
1,100,000
|
Twelve Months Ended
December 31,
|
|||||||||
2013 (Low)
|
2013 (High)
|
||||||||
GAAP Capital Expenditures
|
$
|
1,360,000
|
$
|
1,460,000
|
|||||
Adjusted for:
|
|||||||||
Non-controlling interest
|
(200,000
|
)
|
(225,000
|
)
|
|||||
Investments in unconsolidated affiliates
|
550,000
|
575,000
|
|||||||
Capital Expenditure Outlook
|
$
|
1,710,000
|
$
|
1,810,000
|
Twelve Months Ended
December 31,
|
|||||||||
2014 (Low)
|
2014 (High)
|
||||||||
GAAP Capital Expenditures
|
$
|
1,085,000
|
$
|
1,185,000
|
|||||
Adjusted for:
|
|||||||||
Non-controlling interest
|
(225,000
|
)
|
(250,000
|
)
|
|||||
Investments in unconsolidated affiliates
|
250,000
|
275,000
|
|||||||
Capital Expenditure Outlook
|
$
|
1,110,000
|
$
|
1,210,000
|
Three Months Ended
December 31,
|
|||||||||
2012
|
2011
|
||||||||
Barnett Shale
|
|||||||||
Wells connected during period
|
6
|
117
|
|||||||
Total wells connected at end of period
|
2,380
|
2,219
|
|||||||
Throughput, bcf per day
|
1.005
|
1.243
|
|||||||
Approximate miles of pipe at end of period
|
850
|
882
|
|||||||
Gas compression (horsepower) at end of period
|
161,275
|
159,810
|
|||||||
Haynesville Shale – Springridge Gathering System
|
|||||||||
Wells connected during period
|
1
|
7
|
|||||||
Total wells connected at end of period
|
233
|
220
|
|||||||
Throughput, bcf per day
|
0.346
|
0.528
|
|||||||
Approximate miles of pipe at end of period
|
263
|
260
|
|||||||
Gas compression (horsepower) at end of period
|
23,745
|
23,745
|
|||||||
Marcellus Shale
|
|||||||||
Wells connected during period
|
47
|
—
|
|||||||
Total wells connected at end of period
|
508
|
—
|
|||||||
Throughput, bcf per day(1)
|
0.859
|
—
|
|||||||
Approximate miles of pipe at end of period
|
549
|
—
|
|||||||
Gas compression (horsepower) at end of period
|
53,710
|
—
|
|||||||
Mid-Continent
|
|||||||||
Wells connected during period
|
50
|
42
|
|||||||
Total wells connected at end of period
|
2,784
|
2,526
|
|||||||
Throughput, bcf per day
|
0.570
|
0.549
|
|||||||
Approximate miles of pipe at end of period
|
2,584
|
2,487
|
|||||||
Gas compression (horsepower) at end of period
|
103,456
|
94,621
|
|||||||
Total
|
|||||||||
Wells connected during period
|
104
|
166
|
|||||||
Total wells connected at end of period
|
5,905
|
4,965
|
|||||||
Throughput, bcf per day(1)
|
2.780
|
2.320
|
|||||||
Approximate miles of pipe at end of period
|
4,246
|
3,628
|
|||||||
Gas compression (horsepower) at end of period
|
342,186
|
278,176
|
|||||||
(1)
|
Throughput in the Marcellus Shale region represents the net throughput allocated to the Partnership’s interest. Total gross Marcellus Shale system throughput was 1.824 bcf per day for the three months ended December 31, 2012.
|
||||||||
(2)
|
Excludes statistics for assets related to the CMO acquisition on December 20, 2012 due to immaterial contribution to the 2012 results.
|
Twelve Months Ended
December 31,
|
|||||||||
2012
|
2011
|
||||||||
Barnett Shale
|
|||||||||
Wells connected during period
|
161
|
384
|
|||||||
Total wells connected at end of period
|
2,380
|
2,219
|
|||||||
Throughput, bcf per day
|
1.195
|
1.083
|
|||||||
Approximate miles of pipe at end of period
|
850
|
882
|
|||||||
Gas compression (horsepower) at end of period
|
161,275
|
159,810
|
|||||||
Haynesville Shale – Springridge Gathering System
|
|||||||||
Wells connected during period
|
13
|
56
|
|||||||
Total wells connected at end of period
|
233
|
220
|
|||||||
Throughput, bcf per day
|
0.359
|
0.541
|
|||||||
Approximate miles of pipe at end of period
|
263
|
260
|
|||||||
Gas compression (horsepower) at end of period
|
23,745
|
23,745
|
|||||||
Marcellus Shale
|
|||||||||
Wells connected during period
|
227
|
—
|
|||||||
Total wells connected at end of period
|
508
|
—
|
|||||||
Throughput, bcf per day(1)
|
0.701
|
—
|
|||||||
Approximate miles of pipe at end of period
|
549
|
—
|
|||||||
Gas compression (horsepower) at end of period
|
53,710
|
—
|
|||||||
Mid-Continent
|
|||||||||
Wells connected during period
|
258
|
170
|
|||||||
Total wells connected at end of period
|
2,784
|
2,526
|
|||||||
Throughput, bcf per day
|
0.564
|
0.552
|
|||||||
Approximate miles of pipe at end of period
|
2,584
|
2,487
|
|||||||
Gas compression (horsepower) at end of period
|
103,456
|
94,621
|
|||||||
Total
|
|||||||||
Wells connected during period
|
659
|
610
|
|||||||
Total wells connected at end of period
|
5,905
|
4,965
|
|||||||
Throughput, bcf per day(1)
|
2.819
|
2.176
|
|||||||
Approximate miles of pipe at end of period
|
4,246
|
3,628
|
|||||||
Gas compression (horsepower) at end of period
|
342,186
|
278,176
|
|||||||
(1)
|
Throughput in the Marcellus Shale region represents the net throughput allocated to the Partnership’s interest. Total gross Marcellus Shale system throughput was 1.508 bcf per day for the twelve months ended December 31, 2012.
|
||||||||
(2)
|
Excludes statistics for assets related to the CMO acquisition on December 20, 2012 due to immaterial contribution to the 2012 results.
|
||||||||
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