Regency Energy Partners LP (NYSE: RGP) detailed its second-quarter 2014 financial results, the company said Aug. 6. The quarter ended June 30, the company added.
There was $307 million in adjusted EBITDA, an increase of 98% over second-quarter 2013’s $155 million, the company said. The increase was partly due to volume growth at the Lone Star joint venture, Regency Energy added.
Distributable cash flow was higher, at $207 million, than second-quarter 2013’s $101 million, the company said.
The company had $8 million in net losses, lower than second-quarter 2013’s $10 million in net income.
Revenues were incurred from Regency Energy’s natural gas transportation segment. Unconsolidated affiliates of the Haynesville Partnership Co. generated lower revenues during the quarter--$6 million compared with second-quarter 2013’s $8 million, the company said.
Income from unconsolidated affiliates for the Midcontinent Express Pipeline, operated by Kinder Morgan Energy Partners LP, was higher during the quarter--$12 million compared with second-quarter 2013’s $10 million, the company added.
Income from unconsolidated affiliates for the NGL services sector was also higher during the quarter-- $27 million compared with second-quarter 2013’s $13 million, the company said.
During the quarter, Regency Energy incurred $443 million of growth capex. Of that amount, $232 supported gathering and processing, $163 supported contract services, $46 million supported NGL services and $2 million supported transportation, the company added. A total of $37 million of maintenance capex was incurred, the company noted.
For the remainder of the year, Regency Energy plans to invest about $1.3 billion in growth capex. Of that amount, $850 million will support gathering and processing, $300 million will support contract services and $100 will support NGL services, the company said.
Also, about $90 million will be invested in maintenance capex, the company added.
Dallas-based Regency Energy Partners LP is a domestic-gas-focused midstream MLP.
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