Company Information

Learn More About XBRL  

Address: 2727 ALLEN PARKWAY, SUITE 1200  
City: HOUSTON 
State: TX 
Zip Code: 77019 
Telephone: 713-621-9547 


Description of Business


Primary SIC Code: 4922
(As filed with the SEC)  

The following discussion of our business segments provides information regarding our principal natural gas processing plants, pipelines and other assets. For a discussion of our results of operations, including pipeline throughput and processing rates, please read Item 7 of this report, captioned "Management's Discussion and Analysis of Financial Condition and Results of Operation." General We are an energy company engaged in the business of providing midstream services to natural gas producers, including natural gas gathering, compression, dehydration, treating, marketing, transportation, processing, conditioning and fractionation services. Our assets are located in Oklahoma, Texas, Wyoming and Louisiana and include approximately 6,400 miles of active natural gas gathering and transmission pipelines and seven natural gas processing plants, with over one Bcf/d of combined processing capacity.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
06/2010-0.190.575N/E
03/20100.250.57596.80
12/20090.360.57566.42
09/20090.500.57536.40
06/20090.570.57528.16
03/20090.860.57515.49
12/20081.010.57511.55
09/20081.200.57020.38

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2009 Leverage 2009
Net Inc/Comm Equity0.02Total Liab/Total Assets0.54
Net Inc/Total Assets0.01Total Liab/Inv Cap0.59
Net Inc/Inv Cap0.01Total Liab/Comm Equity0.97
Pretax Inc/Net Sales0.03Interest Coverage Ratio1.39
Net Inc/Net Sales0.03Curr Debt/Equity0.01
Cash Flow/Net Sales0.17LTD/Equity0.99
SG&A/NetSales0.05Total Debt/Equity1.00
Asset Utilization   Liquidity  
Net Receivables Turnover8.76Quick Ratio1.24
Inventory TurnoverNACurrent Ratio1.24
Inventory Day SalesNANet Rec/Curr Assets0.51
Net Sales/Work Cap23.59Inv/Curr AssetsNA
Net Sales/PP&E0.97  

Income Statement (Millions)

  6/30/2010 3/31/2010 12/31/2009 9/30/2009
Total Revenues(Net Sales) 230.05 266.67 249.25 189.53
Cost of Goods Sold 186.45 227.64 199.98 149.30
Selling & Admin Exps 12.08 11.70 11.65 10.04
Operating Income -7.69 13.91 20.21 18.15
Interest Exp 13.35 14.95 13.95 15.44
Pretax Income -21.01 -1.03 6.34 3.77
Other Income 0.04 0.01 0.08 1.07
Net Income Bef Extraordinary ... NA NA NA NA
Net Income -21.11 -1.26 7.49 3.73

Balance Sheet (Millions)

Assets 6/30/2010 3/31/2010 12/31/2009 9/30/2009
Cash & Short Term Investments 56.80 54.15 44.69 35.38
Receivables - Total 79.27 89.20 91.16 81.96
Inventories - Total NA NA NA NA
Total Current Assets 172.91 177.46 177.40 173.77
Net Property, Plant & Equipment 890.53 850.44 841.32 834.76
Total Assets 1,881.15 1,870.10 1,867.41 1,882.56
Liabilities        
Accounts Payable 128.00 123.40 123.61 99.33
Debt in Current Liabilities 5.17 7.43 9.67 8.02
Total Current Liabilities 151.86 146.62 142.64 117.95
Long-Term Debt 762.78 717.80 852.82 842.84
Total Liabilities 922.42 873.78 1,007.39 975.01
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock NA NA NA NA
Common Stock 1,157.20 1,156.89 991.96 991.45
Retained Earnings -250.68 -191.43 -158.27 -133.90
Treasury Stock NA NA NA NA
Total Stockholders' Equity 958.73 996.32 860.03 907.55
Total Liabilities and Stockholders' Equity 1,881.15 1,870.10 1,867.41 1,882.56

Cash Flow Summary (Millions)

Categories 6/30/2010 3/31/2010 12/31/2009 9/30/2009
Net Cash Provided by Operating Activities 36.25 29.16 40.57 21.12
Net Cash Provided by Investing Activities -40.68 -18.44 -10.26 -18.81
Net Cash Provided by Financing Activities 7.08 -1.27 -20.99 -41.62

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2005747.7430.351.14
12/2006860.2765.110.88
12/20071,141.6663.181.36
12/20081,629.0958.211.01
12/2009820.0523.160.36
Growth Rates2.33-6.54-25.04

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional06/30/109826,29640.08




Report Date : 8/30/2010

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