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Duncan Energy Partners Reports Second Quarter 2011 Results

Petrochemical Services – Gross operating margin for the second quarter of 2011 increased to $3.0 million from $2.8 million in the second quarter of 2010, primarily due to increased deficiency fee revenues on the Lou-Tex Propylene Pipeline, partially offset by higher pipeline integrity expenses on the Lou-Tex and Sabine Propylene Pipelines.

Total petrochemical transportation volumes averaged 35 MBPD for the second quarter of 2011 compared to 37 MBPD in the second quarter of 2010.


Duncan Energy Partners had total debt principal outstanding of $1.15 billion at June 30, 2011. The Partnership had total liquidity of approximately $394 million at the end of the second quarter, including availability under the Partnership’s revolving credit facility and its proportional share of cash.

Total consolidated capital spending in the second quarter of 2011 was $516.4 million, which included approximately $357 million spent on the Haynesville Extension project and $16.2 million for sustaining capital expenditures. Duncan Energy Partners’ 66 percent share of the capital expenditures associated with the Haynesville Extension project during the second quarter was approximately $236 million.

Supplemental Selected Standalone Financial Information

In February 2007, Duncan Energy Partners acquired controlling ownership interests in five midstream energy companies (the “DEP I Midstream Businesses”) from Enterprise in a drop down transaction. In December 2008, Duncan Energy Partners acquired controlling ownership interests in three additional midstream energy companies (the “DEP II Midstream Businesses”) from Enterprise in a second drop down transaction.

To assist investors and other users of our financial statements, Exhibit A to this press release includes selected financial information of Duncan Energy Partners L.P. on a standalone basis apart from that of our consolidated financial information. A key difference between the supplemental selected standalone financial information and our general purpose consolidated financial statements is that the DEP I and DEP II Midstream Businesses (i.e., the Partnership’s operating subsidiaries) are viewed as investments and presented as unconsolidated affiliates by Duncan Energy Partners L.P. on a standalone basis.

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