This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Boardwalk Pipeline Partners, LP's CEO Discusses Q1 2012 Results - Earnings Call Transcript

As a result of a successful equity offering, which occurred earlier in the year, we were able to purchase the remaining equity ownership interest in Boardwalk HP Storage from an affiliate of our general partner for approximately $285 million. Purchasing the remaining equity interest in the HP Storage was the goal for us this year, and I'm very pleased that we were able to complete this transaction so early in the year. As Jamie will discuss in greater detail, these assets are already contributing to the financial results of the company. We also are developing a new cavern that will increase working gas capacity in HP Storage by approximately 5 billion cubic feet. This new cavern is expected to go into service in the first half of 2013.

Longer term, we are seeing demand respond to ample natural gas supplies in both the industrial and power generation sectors. In addition to the 100,000 MMBtu a day, Baton Rouge/River Corridor expansion that we discussed last quarter, in the first quarter of this year, we obtained a long-term firm commitment to serve an additional proposed combined cycle gas-fired plant. This additional commitment is for 125,000 MMBtu a day and is subject to the customer obtaining the necessary regulatory approvals to proceed with the construction of the plant. Collectively, these commitments will require approximately $50 million in growth capital. We anticipate that service will commence around the 2014 time frame.

For the industrial sector, we are seeing a heightened interest for delivery capacity, especially in the Mississippi River corridor area of Louisiana as industrials, particularly in the petrochemical segment, are beginning to develop or increase production in order to leverage low U.S. gas prices.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs