Corporate and Others – The Corporate and Others segment comprises a small regulated pipeline and the Partnership’s corporate offices. Segment margin in the Corporate and Others segment was $5 million for both the second quarter of 2012 and second quarter of 2011.
In the six months ended June 30, 2012, Regency incurred $373 million of growth capital expenditures: $163 million for the Joint Ventures segment, $136 million for the Gathering and Processing segment, $55 million for the Contract Compression segment and $19 million for the Contract Treating segment.
In the six months ended June 30, 2012, Regency incurred $15 million of maintenance capital expenditures.
In 2012, Regency expects to invest between $775 and $825 million in growth capital expenditures, of which $310 million is related to the Gathering and Processing segment, which includes expenditures related to the Ranch Joint Venture; between $350 and $400 million related to the Lone Star Joint Venture; $70 million related to the Contract Compression segment; $40 million related to the Contract Treating segment; and $5 million related to the Corporate and Others segment.
In addition, Regency expects to make $28 million in maintenance capital expenditures in 2012, including its proportionate share related to joint ventures.
On July 26, 2012, Regency announced a cash distribution of $0.46 per outstanding common unit for the second quarter ended June 30, 2012. This distribution is equivalent to $1.84 per outstanding common unit on an annual basis and will be paid on August 14, 2012, to unitholders of record at the close of business on August 6, 2012.
Based on the terms of the partnership agreement, the Series A Preferred Units will be paid a quarterly distribution of $0.445 per unit for the second quarter ended June 30, 2012, on the same schedule as set forth above.