Crosstex Energy, Inc. (XTXI)
March 27, 2012 2:00 pm ET
Jill McMillan - Director of Public and Industry Affairs
Michael J. Garberding - Chief Financial Officer and Senior Vice President
Previous Statements by XTXI
» Crosstex Energy's CEO Discusses Q4 2011 Results - Earnings Call Transcript
» Crosstex Energy Inc. Presents at Citigroup 2011 North American Credit Conference, Nov-15-2011 08:30 AM
» Crosstex Energy's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Barry E. Davis - Chairman, Chief Executive Officer, President, Chief Executive Officer of Crosstex Energy GP LLC, President of Crosstex Energy GP LLC and Director of Crosstex Energy GP LLC
William W. Davis - Chief Operating Officer of Crosstex Energy GP LLC and Executive Vice President of Crosstex Energy GP LLC
Stan Golemon - Senior Vice President of Engineering & Operations of Crosstex Energy GP LLC
Royston Lightfoot - Senior Vice President of Business Development
Looks like we've got a few more folks coming in. If everyone wants to have a seat. Great. Well, thank you for coming and good afternoon, and welcome to the Crosstex Analyst Conference. We are so excited to have you and we especially thank you for your interest in Crosstex. My name is Jill McMillan, I am the Director of Public and Industry Affairs. I manage the Investor Relations for the company. I see many familiar faces in the audience. For those of you that I haven't had a chance to meet, I hope to get to know you more later today. I will say that we have a very busy and full day ahead of us. We will start off the meeting with a 1.5 hours presentation led by our President and Chief Executive Officer, Barry Davis. He will provide a in-depth operational and financial update. After the 1.5 hours presentation, we will take a short 20-minute break where we will reconvene back in this room for a 2-hour breakout discussion, where each of you will have ample opportunity to ask lots of questions to the management team.
Speaking of questions, we would -- you're more than welcome to ask questions during the presentation, however, you will have plenty of time during the breakout sessions to ask those questions. If you do choose to ask a question during the analyst presentation, please speak up or wait until someone can come to you with a microphone so that those that are listening on the call can also hear the questions that are asked. We will be webcasting the analyst presentation for those on the call as well.
And just a few friendly reminders, for those of you that have cell phones, if you could just do me a favor and put them on silent, I would greatly appreciate it.
Last but not least, we will end our evening and try to give all of you New Yorkers the true Texas barbecue experience. We have Sammy's Bar-B-Q, which is right around the corner. So we'll have live entertainment and a whole bunch of really fun activities planned for you so we hope you're able to make dinner.
And without further ado, I'd like to introduce our Chief Financial Officer, Mike Garberding.
Michael J. Garberding
Thanks, Jill. We do enjoy this time because it gives us a good opportunity, really, to tell our story. You look at how 2011 shaped up, we think we laid out a real good plan and did really well executing on that and we think, as you'll see, 2012 should be consistent with how we do that. So again, that is our goal for today. When you look at agenda, Barry is going to start with the strategic vision, Bill is going to spend some time walking through our base assets. Stan and Royston will then walk you through each of our growth projects and I'll finish up talking about the financial picture for the company.
So before we kick off, I want to introduce the team but -- when you talk about teams, the great Charles Barkley had a funny comment last week. During the Sweet 16, one of the announcers was talking about, saying, "Hey, don't the best athletes always win?" And Charles, in his own way, says, "Well, if the best athletes always win, why are not a bunch of gazelles playing basketball?" You're thinking Barkley's right, right, it goes back to sort of the Bobby Knight era of coaching. You want the team that's going to work hard, execute on the plan and deliver results. And again, when you talk about a team, this team has really been through a lot, so. And if you -- each of us have really been through the last 4 years together and now on this side of executing on the growth, we feel we have a very good team in place to continue to push this company forward.
Key people on the team, as everyone knows, Barry Davis, CEO; Bill Davis, COO; Joe Davis, SVP, General Counsel; Mike Burdett, SVP, Commercial; Stan Golemon, SVP E&O; Steve Spaulding, SVP PNGL; Royston Lightfoot, SVP, Business Development; Brad Iles, Corporate Development and then you met Jill. So with that, each of this team will be involved not only talking about the presentation but would be part of the breakout as far as really spelling out what we're going to do as a business during 2012.
Before Barry starts, we're real proud, this is actually our 15th year as a business and company and there's a nice video and when you watch the video, you get a really good taste of who we are and then -- and what we do, when you see the people we have and how we do things and I think that really differentiates us as a company. So take a look at this video and again, it gives you a good view of prospects.
Barry E. Davis
When we started Crosstex a little over 15 years ago, we developed a mission statement that we felt like really accurately reflected what we wanted to do as a company. And right in the middle of our mission statement, we said we wanted to improve the quality of life for our people. I think in that video, you see that the quality of life is pretty good. Even in the best of times and the toughest of times, we believe that the experience that we've been able to share here together has been life-giving and I just want to thank you, guys, because you have had a big part in that. From the time that we did the IPO in 2002 to today, you have always been there to support us and we appreciate that.
Now before you think that it's all about life, let me remind you that our mission statement starts with, to improve the quality of services for our customers and it ends with, after the middle of improve the quality of life for our people, it ends with, and to improve the returns to our shareholders.
So we've got a great balance in what we wake up thinking about every day and we think the enthusiasm that you see there is really driven by the clarity of that message. Today, we're excited to share with you the latest update in the story of Crosstex. You're going to see that in various formats and we think that that's kind of what's fun about today, you'll see a number of videos that really demonstrates the quality of our assets. You'll see in live the quality of our people, both by the presentations that we'll make throughout the day, as well as the way we represent the rest of our team. And lastly, what we think you're going to see is the incredible quality of opportunities that we see ahead for Crosstex. These are great times and we're very thankful to be where we are.
The headlines. That if you leave today getting anything, we want you to really hear the message that we continue to see very strong performance and execution around our business plan. In 2011, we hit on every mark and in 2012, as we begin the year, we've got great energy and enthusiasm because of that.
The second thing we want you to hear and we think you're hearing it in a lot of places today, is that this is a terrific industry environment in which we operate. Never before have we seen the number of opportunities and the abundance of opportunities for companies to do things in this space.
Thirdly, we want you to know that we are extremely well-positioned as a company and organizationally to participate and to take advantage of the terrific industry environment.
And lastly, because of all of the things that we've done and we think that you will see clearly throughout today because of the preparations that we've made, the developments that we have achieved, the opportunities that we have defined, right now, it is all about execution, okay? We don't have to reach for that next big thing. All we got to do is execute what's right in front of us and I think as we've demonstrated over the last 2 or 3 years, we do that as well as anybody in the industry. So today, we look forward to sharing the story.