Kinder Morgan Energy Partners, L.P.(KMP) Q2 2010 Earnings Call Transcript July 21, 2010 4:30 pm ET Executives Rich Kinder – CEO Park Shaper – President Kim Dang – VP and CFO Tim Bradley – President, CO2 Analysts Steve Maresca – Morgan Stanley Jeremy Tonet – UBS Ted Durbin – Goldman Sachs Emily Wang – Raymond James Brian Zarahn – Barclays Capital Noah Lerner – Hertz Capital John Edwards – Morgan Keegan PresentationOperator
Welcome and I would like to thank you all for holding today’s quarterly earnings conference call. (Operator instructions) Now, I would like to turn it over to Rich Kinder, the Chairman and CEO of Kinder Morgan. Sir you may begin. Rich Kinder Thank you, Ed, and welcome to our analyst call. Let me start by saying that as usual we’ll be making statements within the meaning of Securities Act of 1933 and the Securities Exchange Act of 1934. Also as usual, I’ll give an overview of the quarter, then Park Shaper, our President will go through the financial information in very detail and then we’ll take any and all questions that you might have. I guess in a general way there are three main things to mention at the start of this call. First, we raised the quarterly distribution to $1.09, which is $4.36 annualized. I believe that’s about the 37th time since we took over Kinder Morgan in 1997 that we’ve raised the quarterly distribution. Secondly, we expect to meet our budget target of $4.40 of distributions per unit for the four quarters of 2010 that’s just a little short of 5% above the distributions we’ve made for the four quarters of 2009.