El Paso Pipeline Partners, L.P. reported today third quarter 2011 financial and operational results for the partnership.
Third Quarter 2011 Highlights:
-- $137 million distributable cash flow, a 59 percent increase from third quarter 2010 -- $0.46 earnings per common unit, an 18 percent increase from third quarter 2010 -- $223 million adjusted EBITDA, up 54 percent from third quarter 2010 -- Raised quarterly cash distributions to $0.49 per common unit, up 20 percent from third quarter 2010 -- Obtained FERC approval of Colorado Interstate Gas (CIG) rate case settlement -- Successful $500 million, 5 percent, 10-year Senior Notes offering “ We are delighted to deliver another very good quarter for our unitholders, with distributable cash flow up more than 50 percent from last year’s third quarter ,” said Jim Yardley, president and chief executive officer of the general partner of El Paso Pipeline Partners.
“ And with our recent distribution increase, we are pleased to continue our trend of providing our investors with an increase every quarter since our IPO in 2007. We remain very optimistic about our future — our assets are well positioned to benefit from the growing importance of natural gas in meeting the country’s future energy needs, and we expect to continue to make attractive acquisitions, providing further distribution growth for unitholders .”
[mappress]
Source: El Paso Pipeline Partners, November 2, 2011