Regency 1Q Profit Surges On Joint Venture Gains
- Loading Comments...
DALLAS (AP) Natural gas distributor Regency Energy Partners LP on Monday said its first-quarter profit surged, driven mainly by a $134 million gain related to the contribution of the Regency Interstate Gas Subsidiary (RIGS) to the company's Haynesville joint venture.
In March, Regency said it completed a joint venture with an affiliate of GE Energy Financial Services and Alinda Capital Partners LLC to fund the Haynesville expansion project in North Louisiana. Regency contributed its RIGS system, and GE Energy Financial Services and Alinda contributed $126.5 million and $526.5 million in cash, respectively, to the joint venture in return for a 38 percent, 12 percent and 50 percent general partnership interest, respectively.
Quarterly earnings rose to $148.4 million compared with $10.4 million last year. The company did not provide earnings per share numbers. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.68 | 1,109.24 | 2,185.03 | 33.23 |
Oil *
77.73
|
|
DOWN
18.90
|
UP
0.38
|
UP
9.22
|
UP
0.48
|
10 Yr
3.32%
SPDR Gold
119.18
|
|
-0.18%
|
+0.03%
|
+0.42%
|
+1.47%
|
Data delayed 20 minutes |
Connect with TheStreet