Current year results compared very favorably to last year’s second quarter as adjusted EBITDA, adjusted net income and adjusted net income per diluted unit for the second quarter of 2012 increased 43%, 53% and 46% respectively. Highlights of PAA’s second quarter performance are reflected on slide 3, which all I will – also illustrates that PAA’s distribution for the second quarter of 2012 was approximately 165%.

PAA’s second quarter results were driven by solid performance in all three segments with the Supply and Logistics segment being the largest contributor to over-performance. These second quarter results mark the 42nd consecutive quarter that PAA has delivered results in line with or above guidance.

In July, PAA declared an 8.4% year-over-year increase in our annualized run rate distribution to $4.26 per common unit. As shown on slide 4, PAA has increased its distribution in each of the last 12 quarters and in 31 of the last 33 quarters. Over the last 11.5 years, PAA has grown its distribution at a compound annual growth rate of approximately 7.5%.

Yesterday evening, we furnished financial and operating guidance for the third quarter and the balance of the year, increasing the third – increasing the midpoint of our full year 2012 adjusted EBITDA guidance by $80 million. This represents an approximate 4% increase over the full year guidance provided on May 7, 2012 and a 14% increase over the full year guidance we provided at the beginning of the year. PAA is executing well in this environment and we are on track to meet or exceed our 2012 goals.

Additionally, yesterday, we announced several new capital projects or expansions of existing projects that we expect to implement over the next 12 to 24 months and are expected to yield attractive financial returns. During the remainder of today’s call, we will discuss our segment performance relative to guidance, our expansion capital program, our acquisition integration activities and our financial position. We will also address the drivers and major assumptions supporting our financial and operating guidance for the third quarter of 2012. We will address similar information for PNG, and at the end of the call, I will provide a recap as well as some comments regarding our outlook for the future.

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