So, with that, I will turn it over to Alan.
Alan Armstrong – Chief Executive Officer
Great, thank you, John, and good morning everyone. First of all, of this I had a few headlines here for WPZ very quickly and then we'll turn it over to questions. Certainly, WPZ had a very exciting quarter of both performance and positioning for growth well into our future.
Three quick points here on this quarter and then I will quickly list out some of the operational matters that drove the quarter from our perspective as well. And finally, some quick thoughts on the slew of major projects that we have on our plate.
First of all, we did hit a record in distributable cash flow of $475 million despite NPL used margins slipping down from the fourth quarter of 2011 and segment profit was up 12% over the same quarter of last year.Second, our stated goal of growing our fee-based business is showing up in our results in a big way, 19% growth in our fee-based revenues in our Midstream sector. And so a lot of the previous CapEx projects that we've been investing in for last several years are really starting to pay off namely Perdido, some of our processing capacity that’s on a fee basis out west and certainly the Northeast Pennsylvanian top volumes as they continue to grow very rapidly. Then as well in our Gas Pipeline group will continue to grow fee-based revenues there. Those were up 6% over first quarter of '11 as well. And then third, our stated goal of growing the WPZ distribution by 8% to 10% remains extremely well supported, despite an internal forecast of declining NGL margins through our guidance period. As we continue to execute on the new fee-based investments that continued to propel our growth and through the guidance period and well beyond the guidance period.