Regency Energy Partners reports increases in financial results

Regency Energy Partners LP (NYSE: RGP) on Feb. 15 announced its financial results for the fourth quarter and full year ended Dec.31, 2011.

For full-year 2011, adjusted EBITDA increased 29 percent to $422 million, compared to $327 million in 2010. Adjusted EBITDA increased by 13 percent for the fourth quarter of 2011, compared to the fourth quarter of 2010. The increases were primarily attributable to RGP’s acquisition of a 30 percent interest in the Lone Star Joint Venture in May 2011 and an increase in the adjusted segment margin in the Gathering and Processing segment due to increased volumes in south and west Texas. The full-year increase was also partly due to a full-year contribution from the MEP Joint Venture in 2011, compared to a partial-year contribution in 2010.

For full-year 2011, net income increased to $74 million, compared to a net loss of $11 million in 2010. Net income increased to $14 million for the fourth quarter of 2011, compared to a net loss of $9 million for the fourth quarter of 2010.

"Our acquisition of an interest in the Lone Star Joint Venture added a predominantly fee-based natural gas liquids platform to Regency's portfolio which when combined with increased volumes in south and west Texas, led to solid year-over-year adjusted EBITDA growth," said Mike Bradley, president and chief executive officer of Regency.