Exhibit 99.1
First Quarter 2009 Financial & Operational Update May 8, 2009 |
Throughput Varied by Region 11% overall increase Rockies supply, expansions Expansions Power generation - - Industrial Ups Downs Wyoming Interstate Company (WIC) +12% Colorado Interstate Gas (CIG) +18% Southern Natural Gas (SNG) -3% Throughput 1Q: 2009 vs. 2008 |
Earnings from Unconsolidated Affiliates CIG EBIT Interest and debt expense, net Net income Equity in earnings from CIG1 SNG EBIT2 Interest and debt expense, net Net income Equity in earnings from SNG1 2008 Quarters Ended March 31, 2009 $ 53 (12) 41 $ 16.5 $ 63 (15) 48 $ 12.5 ($ Millions) 1Equity in earnings reflect our 10 percent interests in CIG and SNG beginning from our IPO in November 2007 and our incremental 30 percent interest in CIG and 15 percent interest in SNG beginning September 30, 2008 following our acquisition 22008 amount includes $29 million relating to the settlement of Calpine's approved plan of reorganization $ 51 (1) 50 $ 5.7 $ 109 (14) 95 $ 9.4 |
$ 178 $ 51 $455 $170 $ 236 $119 100% Share Net to EPB Cypress III* SESH II South System III Cypress III* SESH II South System III Cypress III* SESH II South System III SNG Raton Basin Totem Storage Raton Basin CIG System Expansion System Expansion Piceance Basin System Expansion WIC 2011 & Beyond 2010 2009 $ Millions Committed Expansion Projects Note: $ in each column represents costs for each project, shown in the period of expenditure Capital amounts as of May 8, 2009 *Construction of Cypress Phase III is at the option of BG LNG Services |
CIG Overview Well positioned asset: Access to major, growing Rockies basins: Green River, Wind River, Powder River, Raton, Piceance, and Uinta Rockies activity levels will create additional growth opportunities Growing on-system markets Connects to Cheyenne and Opal Hubs *100% Basis Note: Capital amounts as of May 8, 2009 Stable cash flow profile: Growth driven by opportunities in the Front Range market (WYCO) Organic growth: Totem storage (50% JV with Xcel) In-service July 2009 $154 MM capex* 200 MMcf/d Raton 2010 Expansion In-service 4Q 2010 $146 MM capex 130 MMcf/d Major Hubs CIG Storage Fields CIG |