Oil was down about 14% and NGL’s were down about 31%. But Targa benefited from our growth, our fee-based diversification and our hedging program. In that down 14% to 31% pricing environment, EBITDA was only down 5%, coming end at $123 million.We noted in the June press release that the Partnership is expected to have excess distribution coverage for 2012 and 2013 based on our continued distribution growth rates, and a commodity price environment that was assuming $2.50 gas, $80 crude and $0.75 average NGL pricing, which included a $0.30 ethane and $0.80 propane assumption.
Targa's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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