Distributable cash flow increased 57 percent compared to the third quarter of 2008, and quarterly cash distributions were up approximately 17 percent.
According to a company release, the improvement in net income, EBIT, and operating income for both periods is due to the completion of several organic growth projects including the Medicine Bow expansion, High Plains pipeline, Totem Gas Storage facility, and the Piceance Lateral expansion. Net income and EBIT also increased due to the acquisition of additional interests in SNG in 2008.
El Paso Pipeline Partners owns Wyoming Interstate Co., an interstate pipeline system serving the Rocky Mountain region, a 58 percent interest in Colorado Interstate Gas Co., which also operates in the Rockies, and a 25 percent interest in Southern Natural Gas Co., which operates in the southeastern United States. For more information about El Paso Pipeline Partners, visit www.eppipelinepartners.com.
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