Buckeye Partners LP Management Discusses Q2 2012 Results - Earnings Call Transcript

Following our prepared remarks, we'll open the call to questions. But first, I would like for Bill to provide our forward-looking statements disclaimer.

William H. Schmidt

Thanks, Clark. Before we begin, I'd like to remind everyone that we may make statements on the call today that could be construed as forward-looking statements as defined by the SEC. Future results are subject to numerous contingencies, many of which are outside our control, and any forward-looking statements we make are qualified by the risk factors and other information set forth in our Form 10-K for the year ended December 31, 2011, and our most recent Form 10-Q we just filed with the SEC.

In addition, during the call, we will be discussing Buckeye Partners adjusted EBITDA and certain other non-GAAP measures. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is included in the press release that we issued earlier this morning, which is posted on the Investor Center section of Buckeye's website, www.buckeye.com.

With that, I'll turn the call back over to Clark.

Clark C. Smith

Thank you, Bill. I'd like to begin my comments by discussing Buckeye safety achievements. I'm pleased to report that Buckeye continued a strong safety performance during the second quarter of 2012, experiencing 0 OSHA recordable injuries. Overall, we've been able to reduce our OSHA recordable incident rate by 58% since 2009, and we have consistently outperformed the industry benchmark for this metric for the past 2 years.

Additionally, we have experienced improvements on our API [ph] motor vehicle incident rate with a 64% reduction since 2009. And our year-to-date performance in 2012 is significantly outperforming the industry benchmark for this metric. Our operating teams across Buckeye are doing a tremendous job of ensuring the safety as our top priority, and its positive safety record reflect that achievement.

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