El Paso Pipeline Partners, L.P. announced today second quarter 2011 financial and operational results for the partnership.
Second Quarter 2011 Highlights:
— $146 million distributable cash flow, a 54 percent increase from second quarter 2010
— $0.50 earnings per common unit, an 11 percent increase from second quarter 2010
— $238 million adjusted EBITDA, up 43 percent from second quarter 2010
— Raised quarterly cash distributions to $0.48 per common unit, up 20 percent from the second quarter of 2010
— The Southern Natural Gas Company (SNG) South System III Phase II and Southeast Supply Header (SESH) Phase II expansions were placed in service on-time and under-budget
— The partnership continued its successful acquisition strategy, acquiring additional interests in Colorado Interstate Gas (CIG) and SNG, two leading interstate natural gas pipelines
“ We continue to deliver superior results for our unitholders with another quarter of higher earnings and cash flow ,” said Jim Yardley, president and chief executive officer of El Paso Pipeline Partners . “ Our portfolio of high-quality assets continues to grow through acquisitions and expansions. During the quarter, we completed the acquisition of additional interests in CIG and SNG, and now own 100 percent of SNG. We also placed into service additional expansion projects which brings our total to fourteen in less than three years. Our successful acquisitions and expansions have enabled us to deliver consistent distribution growth, as we have increased quarterly distributions every quarter since our IPO in 2007 .”
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Source: El Paso Pipeline Partners, August 4, 2011;