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Energy Transfer, Lp (1012569) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Energy Transfer, Lp

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CIK: 1012569


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ENERGY TRANSFER PARTNERS
REPORTS FOURTH QUARTER RESULTS
Dallas – February 22, 2017 – Energy Transfer Partners, L.P. (NYSE: ETP) today reported its financial results for the quarter ended December 31, 2016. For the three months ended December 31, 2016 Energy Transfer Partners, L.P. (“ETP” or the “Partnership”) reported a net loss of $362 million, a decrease of $383 million compared to net income of $21 million for the same period last year, primarily due to non-cash impairments of $813 million recorded in the current period. Adjusted EBITDA for the three months ended December 31, 2016 totaled $1.43 billion, an increase of $73 million over the same period last year. Distributable Cash Flow attributable to the partners of ETP, as adjusted, for the three months ended December 31, 2016 totaled $796 million, a decrease of $83 million compared to the same period last year, primarily due to a current tax benefit that was recorded in the prior year. Excluding the impact of the change in current tax benefit between periods, Distributable Cash Flow attributable to the partners of ETP, as adjusted, increased approximately $100 million compared to the fourth quarter of 2015.
In January 2017, ETP announced a quarterly distribution of $1.055 per unit ($4.22 annualized) on ETP Common Units for the quarter ended December 31, 2016.
ETP’s other recent key accomplishments include the following:
•
In November 2016, ETP and Sunoco Logistics Partners L.P. (“Sunoco Logistics”) entered into a merger agreement providing for the acquisition of ETP by Sunoco Logistics in a unit-for-unit transaction. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of Sunoco Logistics for each common unit of ETP they own.
•
On November 1, 2016, ETP acquired certain interests in PennTex Midstream Partners, LP (“PennTex”) from various parties for total consideration of approximately $640 million in ETP units and cash.
•
In February 2017, ETP announced that the Federal Energy Regulatory Commission (“FERC”) approved Rover Pipeline LLC’s (“Rover”) application to construct and operate the Rover Pipeline project, allowing Rover to move forward with its targeted in-service goals of July 2017 for Phase I and November 2017 for Phase II.
•
On February 8, 2017, ETP announced that Dakota Access, LLC had received an easement from the U.S. Army Corps of Engineers (“Army Corps”) to construct a pipeline across land owned by the Army Corps on both sides of Lake Oahe in North Dakota. With the receipt of the easement, ETP expects to commence commercial operations on the Dakota Access Pipeline and the adjoining Energy Transfer Crude Oil Pipeline (collectively, the “Bakken Pipeline”) in the second quarter of 2017. In addition, the previously announced project financing for the Bakken Pipeline and the sale of a 36.75% interest in the Bakken Pipeline were completed in February 2017.
•
In January 2017, the previously announced Comanche Trail Pipeline, which transports natural gas from the Permian Basin to Mexico, was placed into service.
•
In the fourth quarter of 2016, ETP issued 6.5 million common units through its at-the-market equity program, generating net proceeds of $236 million. In addition, in January 2017, ETP raised $568 million through a private placement of its common units and $1.48 billion through a senior notes offering.
•
As of December 31, 2016, ETP’s $3.75 billion revolving credit facility had $2.78 billion of outstanding borrowings, and its leverage ratio, as defined by the credit agreement, was 4.32x.
An analysis of ETP’s segment results and other supplementary data is provided after the financial tables shown below. ETP has scheduled a conference call for 8:00 a.m. Central Time, Thursday, February 23, 2017 to discuss the fourth quarter 2016 results. The conference call will be broadcast live via an internet webcast, which can be accessed through www.energytransfer.com and will also be available for replay on ETP’s website for a limited time.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units of Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of pipelines,

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The following information was filed by Energy Transfer, Lp on Wednesday, February 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Energy Transfer, Lp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Statement Of Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Acquisitions (details)
Acquisitions (notes)
Advances To And Investments In Affiliates (details)
Advances To And Investments In Affiliates (notes)
Advances To And Investments In Affiliates (tables)
Cash And Cash Equivalents
Cash And Cash Equivalents (tables)
Cash And Cash Equivalents Net Change In Operating Assets And Liabilities (details)
Cash And Cash Equivalents Non-cash Investing And Financing Activities (details)
Debt Obligations
Debt Obligations Narrative (details)
Derivative Assets And Liabilities
Derivative Assets And Liabilities (tables)
Derivative Assets And Liabilities Fair Value Of Derivative Instruments (details)
Derivative Assets And Liabilities Fair Value Of Derivatives, Netting Basis (details)
Derivative Assets And Liabilities Outstanding Commodity Derivatives (details)
Derivative Assets And Liabilities Outstanding Interest Rate Derivatives (details)
Derivative Assets And Liabilities Partnership's Derivative Assets And Liabilities, Amount Of Gain/(loss) Reclassified From Aoci Into Income (effective Portion) (details)
Derivative Assets And Liabilities Partnership's Derivative Assets And Liabilities, Recognized Oci On Derivatives (effective Portion) (details)
Equity
Equity (tables)
Equity Aoci (details)
Equity Narrative (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements Fair Value Heigharchy (details)
Fair Value Measurements Narrative (details)
Income Taxes (details)
Income Taxes (notes)
Inventories
Inventories (details)
Inventories (tables)
Operations And Organization
Operations And Organization Accounting Policy (policies)
Operations And Organization Operations And Organization (details)
Preferred Units (details)
Preferred Units (notes)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities (tables)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Environmental Liabilities (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Narrative (details)
Regulatory Matters, Commitments, Contingencies And Environmental Liabilities Operating Leases, Rental Expense (details)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions Affiliated Revenue (details)
Related Party Transactions Related Party A/r And A/p (details)
Reportable Segments
Reportable Segments (tables)
Reportable Segments Reportable Segments Narrative (details)
Reportable Segments Segment Adjusted Ebitda (details)
Reportable Segments Segment Assets (details)
Reportable Segments Segment Revenues (details)

Material Contracts, Statements, Certifications & more

Energy Transfer, Lp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
CIK: 1012569
Form Type: 10-Q Quarterly Report
Accession Number: 0001012569-17-000055
Submitted to the SEC: Tue Nov 07 2017 5:43:20 PM EST
Accepted by the SEC: Wed Nov 08 2017
Period: Saturday, September 30, 2017
Industry: Natural Gas Transmission

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