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» Regency Energy Partners LP Q1 2010 Earnings Call Transcript
» Regency Energy Partners LP Q4 2009 Earnings Call Transcript
» Regency Energy Partners Q3 2009 Earnings Call Transcript
You may access the earnings release and presentation used on today’s call through Regency’s website at regencyenergy.com. Please note, we plan to file our Form 10-K by the end of day tomorrow. Today's call is being recorded and is also being broadcast live over the Internet on the Regency corporate website. An archive of the webcast and presentation will be available on the corporate website following today’s call.Slide 2 of the presentation describes our use of forward-looking statements, and lists some of the risk factors that may affect the actual results. Also included in the presentation today are various non-GAAP measures that have been reconciled back to GAAP. Before we turn the call over today to Mike, I would like to briefly state that our Regency Energy Investor Day will be on April 6. At this event, we will provide an in-depth look at our operations and discuss our growth opportunities. We hope that you will be able to join us. If you are interested in attending, please make sure to make your reservations by e-mail at email@example.com or call us at (214) 840-5477. With that, I will turn the call over to Mike Bradley, President and CEO. Michael Bradley Good morning, and thank you for joining us today. We're really pleased to have a chance to speak with you and are very excited about the opportunities that lie ahead. On today's call, in addition to reporting excellent fourth quarter and full-year performance of our business units, we will also discuss our strategy for building on a strong foundation that was laid in 2010. By executing on our growth strategy, including acquisitions, expansion projects and improving our financial flexibility, Regency has evolved into a more diversified midstream business and we will continue to enhance the stability of our cash flows, going forward.
Let's turn now to some of the 2010 highlights. 2010 was a very active and transformational year for Regency. With the acquisition of our general partner by Energy Transfer Equity, we believe we are in a better position to facilitate growth. Energy Transfer Equity is an experienced leader in the midstream industry and is very supportive of our business objectives including our goals of raising distributions and reaching investment grade metrics. With this transaction, we believe there are opportunities for synergies between Regency and Energy Transfer, including leveraging our joint purchasing power and sharing best practices, as well as the potential to form additional partnerships through joint ventures. We're excited about this relationship and believe it will play a pivotal role in our overall success.Also this year, we introduced a new senior leadership team. Combining new talents with our existing strong management team, as well as capitalizing on opportunities with Energy Transfer, would help us does employ the best thinking across all aspects of our business. Looking at acquisition highlights. We acquired a 49.9% interest in the MEP Joint Venture, which expanded our Transportation business into the interstate pipeline market and added to our fee-based services. We completed the acquisition of Zephyr Gas Services, expanding our trading capabilities and related offerings. We acquired additional interest in the Haynesville Joint Venture, which brought our total ownership interest to 49.99%, which collectively have changed the landscape of our company and will allow us to provide producers with more robust service offerings. Next, reviewing our operational highlights. We completed the construction of the Haynesville and Red River expansion projects on time and under budget, strengthening our transportation capabilities in the Haynesville Shale. We completed the sale of our East Texas assets in July, decreasing our commodity exposure in providing funds to invest in higher growth regions. Also we completed the expansion of our Logansport Gathering System within budget, which added 485 million cubic feet per day of incremental data capacity at North Louisiana. And finally, we announced the series of expansions to our South Texas gathering system to provide incremental gas capacity in the Eagle Ford Shale. Read the rest of this transcript for free on seekingalpha.com