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Q4 2011 Earnings Release
| Kevin Hadlock | Page 14 of 11 |
April 26, 2017
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"Q4 2011 Earnings Release"
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® ? 2011 Highlights - Earned record net income of $67.9 million in 2011 - Return on equity was 11.4% for the 12 months ended December 31, 2011 - Incremental transportation revenues from Overthrust Loop Expansion and lower interest expense more than offset decline in natural gas liquid revenues - Completed other key projects including ML 3 replacement project and ML 104 extension - Received authorization to increase Clay Basin storage capacity by 2.7 bcf - Combined O&M and G&A were $0.10 per Mdth in 2011 down $0.01 compared to the prior year ? Outlook - Earnings expected to be flat over five-year planning horizon - Projecting cumulative free cash flow(1) of about $350 million over five-year plan 14 (1) Net cash from operating activities less net cash used in investing activities