Long Term Debt (Tables)

6 Months Ended

Jun. 30, 2011

Long Term Debt (Tables) [Abstract]

Long-Term Debt

	June 30,		December 31,
	2011		2010
	(In thousands)
Revolving credit facility	$	195,000	$	10,000
Senior Notes:
8.125% senior unsecured notes due 2016		—		332,665
Unamortized bond premium-senior notes due 2016		—		546
7.75% senior unsecured notes due 2018		249,525		249,525
7.125% senior unsecured notes due 2021		360,000		—
Total Senior Notes		609,525		582,736
Total long-term debt	$	804,525	$	592,736

Condensed consolidating financial information

	June 30, 2011																	December 31, 2010
										Investment in																	Investment in
							Guarantor			Non-Guarantor														Guarantor			Non-Guarantor
	Parent			Co-Issuer			Subsidiaries			Subsidiaries		Eliminations			Total			Parent			Co-Issuer			Subsidiaries			Subsidiaries		Eliminations			Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	10,863		$	—		$	50,693		$	—	$	—		$	61,556		$	9,650		$	—		$	50,280		$	—	$	—		$	59,930
Accounts receivable, net		3			—			112,638			—		—			112,641			14			—			96,648			—		—			96,662
Intercompany receivable		88,198			(1	)		(88,197	)		—		—			—			35,178			(1	)		(35,177	)		—		—			—
Risk management assets		—			—			4,616			—		—			4,616			—			—			7,836			—		—			7,836
Prepayments and other current assets		1,213			—			2,036			—		—			3,249			3,378			—			1,801			—		—			5,179
Total current assets		100,277			(1	)		81,786			—		—			182,062			48,220			(1	)		121,388			—		—			169,607
Property, plant and equipment, net		37			—			1,007,842			—		—			1,007,879			56			—			912,101			—		—			912,157
Intangible assets, net		—			—			186,872			—		—			186,872			—			—			188,585			—		—			188,585
Investments in unconsolidated affiliates		—			—			658,424			658,424		(658,424	)		658,424			—			—			604,304			604,304		(604,304	)		604,304
Investments in consolidated subsidiaries		1,779,666			—			—			—		(1,779,666	)		—			1,703,940			—			—			—		(1,703,940	)		—
Escrow cash		—			—			1,850			—		—			1,850			—			—			1,856			—		—			1,856
Risk management assets		—			—			12,912			—		—			12,912			—			—			11,943			—		—			11,943
Other assets, net		22,716			—			6,192			—		—			28,908			13,128			—			5,413			—		—			18,541
Total assets	$	1,902,696		$	(1	)	$	1,955,878		$	658,424	$	(2,438,090	)	$	2,078,907		$	1,765,344		$	(1	)	$	1,845,590		$	604,304	$	(2,308,244	)	$	1,906,993
LIABILITIES AND MEMBERS’/PARTNERS’ CAPITAL
Current liabilities:
Accounts payable	$	72		$	—		$	146,106		$	—	$	—		$	146,178		$	17		$	—		$	117,689		$	—	$	—		$	117,706
Accrued interest		8,037			—			—			—		—			8,037			10,621			—			—			—		—			10,621
Accrued tax liability		586			—			—			—		—			586			913			—			—			—		—			913
Risk management liabilities		—			—			9,784			—		—			9,784			—			—			9,357			—		—			9,357
Other current liabilities		4,746			—			17,393			—		—			22,139			4,266			—			10,229			—		—			14,495
Total current liabilities		13,441			—			173,283			—		—			186,724			15,817			—			137,275			—		—			153,092
Long-term debt		804,525			—			—			—		—			804,525			592,736			—			—			—		—			592,736
Deferred tax provision		1,989			—			62			—		—			2,051			1,848			—			35			—		—			1,883
Risk management and other noncurrent liabilities		120			—			2,866			—		—			2,986			186			—			4,339			—		—			4,525
Members’/Partners’ capital:
Series A convertible preferred units		285,168			—			—			—		—			285,168			285,172			—			—			—		—			285,172
Common units		1,164,083			—			—			—		—			1,164,083			1,161,652			—			—			—		—			1,161,652
Paid in capital		57,312			1			1,186,160			653,168		(1,839,329	)		57,312			51,743			1			1,162,543			602,055		(1,764,599	)		51,743
Accumulated deficit		(396,253	)		(2	)		621,196			5,256		(626,450	)		(396,253	)		(313,454	)		(2	)		571,754			2,249		(574,001	)		(313,454	)
Accumulated other comprehensive loss		(27,689	)		—			(27,689	)		—		27,689			(27,689	)		(30,356	)		—			(30,356	)		—		30,356			(30,356	)
		1,082,621			(1	)		1,779,667			658,424		(2,438,090	)		1,082,621			1,154,757			(1	)		1,703,941			604,304		(2,308,244	)		1,154,757
Total liabilities and members’/partners’ capital	$	1,902,696		$	(1	)	$	1,955,878		$	658,424	$	(2,438,090	)	$	2,078,907		$	1,765,344		$	(1	)	$	1,845,590		$	604,304	$	(2,308,244	)	$	1,906,993

	Three Months Ended June 30, 2011																	Three Months Ended June 30, 2010
									Investment in																	Investment in
						Guarantor			Non-Guarantor														Guarantor			Non-Guarantor
	Parent			Co-Issuer		Subsidiaries			Subsidiaries			Eliminations			Total			Parent			Co-Issuer		Subsidiaries			Subsidiaries			Eliminations			Total
	(In thousands)
Revenue:
Natural gas sales	$	—		$	—	$	123,928		$	—		$	—		$	123,928		$	—		$	—	$	84,819		$	—		$	—		$	84,819
Natural gas liquids sales		—			—		180,758			—			—			180,758			—			—		114,802			—			—			114,802
Transportation, compression and processing fees		—			—		27,898			—			—			27,898			—			—		16,516			—			—			16,516
Condensate and other		—			—		13,472			—			—			13,472			—			—		13,914			—			—			13,914
Total revenue		—			—		346,056			—			—			346,056			—			—		230,051			—			—			230,051
Costs and expenses:
Cost of natural gas and natural gas liquids		—			—		274,398			—			—			274,398			—			—		167,613			—			—			167,613
Transportation		—			—		6,362			—			—			6,362			—			—		5,603			—			—			5,603
Operations and maintenance		—			—		15,763			—			—			15,763			—			—		13,230			—			—			13,230
Depreciation and amortization		10			—		17,353			—			—			17,363			10			—		15,573			—			—			15,583
General and administrative		5,893			—		6,008			—			—			11,901			5,831			—		5,069			—			—			10,900
Taxes other than income		—			—		1,397			—			—			1,397			—			—		1,181			—			—			1,181
Equity in (earnings) loss from unconsolidated affiliates		—			—		(1,306	)		(1,306	)		1,306			(1,306	)		—			—		23,632			23,632			(23,632	)		23,632
Total costs and expenses		5,903			—		319,975			(1,306	)		1,306			325,878			5,841			—		231,901			23,632			(23,632	)		237,742
Operating (loss) income		(5,903	)		—		26,081			1,306			(1,306	)		20,178			(5,841	)		—		(1,850	)		(23,632	)		23,632			(7,691	)
Other income (expense):
Interest and other income		—			—		8			—			—			8			—			—		37			—			—			37
Loss of refinancing of unsecured debt		(18,233	)		—					—			—			(18,233	)		—					—			—			—			—
Interest and other financing costs		(10,989	)		—		(465	)		—			—			(11,454	)		(12,717	)		—		(634	)		—			—			(13,351	)
(Loss) income before income taxes and equity in earnings from consolidated subsidiaries		(35,125	)		—		25,624			1,306			(1,306	)		(9,501	)		(18,558	)		—		(2,447	)		(23,632	)		23,632			(21,005	)
Provision for income taxes		150			—		(10	)		—			—			140			(106	)		—		—			—			—			(106	)
(Loss) income before equity in earnings from consolidated subsidiaries		(34,975	)		—		25,614			1,306			(1,306	)		(9,361	)		(18,664	)		—		(2,447	)		(23,632	)		23,632			(21,111	)
Equity in earnings (loss) from consolidated subsidiaries		25,614			—		—			—			(25,614	)		—			(2,447	)		—		—			—			2,447			—
Net (loss) income		(9,361	)		—		25,614			1,306			(26,920	)		(9,361	)		(21,111	)		—		(2,447	)		(23,632	)		26,079			(21,111	)
Preferred unit distributions		(8,076	)		—		—			—			—			(8,076	)		—			—		—			—			—			—
Net (loss) income to common units	$	(17,437	)	$	—	$	25,614		$	1,306		$	(26,920	)	$	(17,437	)	$	(21,111	)	$	—	$	(2,447	)	$	(23,632	)	$	26,079		$	(21,111	)

	Six Months Ended June 30, 2011																	Six Months Ended June 30, 2010
									Investment in																	Investment in
						Guarantor			Non-Guarantor														Guarantor			Non-Guarantor
	Parent			Co-Issuer		Subsidiaries			Subsidiaries			Eliminations			Total			Parent			Co-Issuer		Subsidiaries			Subsidiaries			Eliminations			Total
															(In thousands)
Revenue:
Natural gas sales	$	—		$	—	$	227,723		$	—		$	—		$	227,723		$	—		$	—	$	205,035		$	—		$	—		$	205,035
Natural gas liquids sales		—			—		329,759			—			—			329,759			—			—		234,120			—			—			234,120
Transportation, compression and processing fees		—			—		52,369			—			—			52,369			—			—		29,630			—			—			29,630
Condensate and other		—			—		26,130			—			—			26,130			—			—		27,932			—			—			27,932
Total revenue		—			—		635,981			—			—			635,981			—			—		496,717			—			—			496,717
Costs and expenses:
Cost of natural gas and natural gas liquids		—			—		498,128			—			—			498,128			—			—		377,478			—			—			377,478
Transportation		—			—		12,211			—			—			12,211			—			—		11,279			—			—			11,279
Operations and maintenance		—			—		30,862			—			—			30,862			—			—		25,333			—			—			25,333
Depreciation and amortization		20			—		34,212			—			—			34,232			20			—		30,764			—			—			30,784
General and administrative		13,416			—		11,083			—			—			24,499			11,026			—		10,416			—			—			21,442
Taxes other than income		—			—		2,527			—			—			2,527			—			—		2,343			—			—			2,343
Equity in (earnings) loss from unconsolidated affiliates		—			—		(3,008	)		(3,008	)		3,008			(3,008	)		—			—		21,837			21,837			(21,837	)		21,837
Total costs and expenses		13,436			—		586,015			(3,008	)		3,008			599,451			11,046			—		479,450			21,837			(21,837	)		490,496
Operating (loss) income		(13,436	)		—		49,966			3,008			(3,008	)		36,530			(11,046	)		—		17,267			(21,837	)		21,837			6,221
Other income (expense):
Interest and other income		—			—		15			—			—			15			—			—		44			—			—			44
Loss on refinancing of unsecured debt		(18,233	)		—		—			—			—			(18,233	)		—			—		—			—			—			—
Interest and other financing costs		(22,627	)		—		(743	)		—			—			(23,370	)		(26,064	)		—		(2,232	)		—			—			(28,296	)
(Loss) income before income taxes and equity in earnings
from consolidated subsidiaries		(54,296	)		—		49,238			3,008			(3,008	)		(5,058	)		(37,110	)		—		15,079			(21,837	)		21,837			(22,031	)
Provision for income taxes		(740	)		—		(31	)		—			—			(771	)		(340	)		—		—			—			—			(340	)
(Loss) income before equity in earnings from consolidated subsidiaries		(55,036	)		—		49,207			3,008			(3,008	)		(5,829	)		(37,450	)		—		15,079			(21,837	)		21,837			(22,371	)
Equity in earnings (loss) from consolidated subsidiaries		49,207			—		—			—			(49,207	)		—			15,079			—		—			—			(15,079	)		—
Net (loss) income		(5,829	)		—		49,207			3,008			(52,215	)		(5,829	)		(22,371	)		—		15,079			(21,837	)		6,758			(22,371	)
Preferred unit distributions		(15,956	)		—		—			—			—			(15,956	)		—			—		—			—			—			—
Net (loss) income to common units	$	(21,785	)	$	—	$	49,207		$	3,008		$	(52,215	)	$	(21,785	)	$	(22,371	)	$	—	$	15,079		$	(21,837	)	$	6,758		$	(22,371	)

	Six Months Ended June 30, 2011																	Six Months Ended June 30, 2010
									Investment in																		Investment in
						Guarantor			Non-Guarantor															Guarantor			Non-Guarantor
	Parent			Co-Issuer		Subsidiaries			Subsidiaries			Eliminations			Total			Parent			Co-Issuer			Subsidiaries			Subsidiaries			Eliminations			Total
															(In thousands)
Cash Flows From Operating Activities:
Net cash (used in) provided by operating activities	$	(83,120	)	$	—	$	159,126		$	12,323		$	(12,323	)	$	76,006		$	(31,290	)	$	—		$	96,704		$	10,993		$	(10,993	)	$	65,414
Cash Flows From Investing Activities:
Additions to property, plant and equipment and intangibles		—			—		(102,429	)		—			—			(102,429	)		—			—			(60,368	)		—			—			(60,368	)
Acquisitions		—			—		(16,084	)		—			—			(16,084	)		—			—			—			—			—			—
Investments in unconsolidated affiliates		—			—		(65,027	)		(65,027	)		65,027			(65,027	)		—			—			(1,538	)		(1,538	)		1,538			(1,538	)
Distributions from unconsolidated affiliates		—			—		1,249			1,249			(1,249	)		1,249			—			—			1,997			1,997			(1,997	)		1,997
Investments in consolidated affiliates		(80,319	)		—		—			—			80,319			—			(52,465	)		—			—			—			52,465			—
Distributions from consolidated affiliates		56,703			—		—			—			(56,703	)		—			95,355			—			—			—			(95,355	)		—
Proceeds from sale of assets		—			—		141			—			—			141			—			—			266			—			—			266
Other		—			—		(179	)		—			—			(179	)		—			—			523			—			—			523
Net cash (used in) provided by investing activities		(23,616	)		—		(182,329	)		(63,778	)		87,394			(182,329	)		42,890			—			(59,120	)		459			(43,349	)		(59,120	)
Cash Flows From Financing Activities:
Proceeds from long-term debt		605,000			—		—			—			—			605,000			80,000			—			—			—			—			80,000
Repayment of long-term debt		(392,665	)		—		—			—			—			(392,665	)		(170,000	)		—			—			—			—			(170,000	)
Deferred financing costs		(15,670	)		—		—			—			—			(15,670	)		—			—			—			—			—			—
Payments of premiums and expenses on redemption of unsecured debt		(14,572	)		—		—			—			—			(14,572	)		—			—			—			—			—			—
Distributions to unitholders		(76,571	)		—		—			—			—			(76,571	)		(69,430	)		—			—			—			—			(69,430	)
Proceeds from public offering of common units		—			—		—			—			—			—			164,786			—			—			—			—			164,786
Equity offering costs		(4	)		—		—			—			—			(4	)		(531	)		—			—			—			—			(531	)
Contributions from parent		—			—		80,319			65,027			(145,346	)		—			—			—			52,465			—			(52,465	)		—
Distributions to parent		—			—		(56,703	)		—			56,703			—			—			—			(95,355	)		—			95,355			—
Other		2,431			—		—			—			—			2,431			991			—			—			1,538			(1,538	)		991
Net cash provided by (used in) financing activities		107,949			—		23,616			65,027			(88,643	)		107,949			5,816			—			(42,890	)		1,538			41,352			5,816
Net increase (decrease) in cash and cash equivalents		1,213			—		413			13,572			(13,572	)		1,626			17,416			—			(5,306	)		12,990			(12,990	)		12,110
Cash and cash equivalents, beginning of year		9,650			—		50,280			85,851			(85,851	)		59,930			3,861			(1	)		40,832			59,896			(59,896	)		44,692
Cash and cash equivalents, end of period	$	10,863		$	—	$	50,693		$	99,423		$	(99,423	)	$	61,556		$	21,277		$	(1	)	$	35,526		$	72,886		$	(72,886	)	$	56,802