Investments in Unconsolidated Affiliates (Tables)

9 Months Ended

Sep. 30, 2011

Investment in Unconsolidated Affiliates [Abstract]

Investments in unconsolidated affiliates

		Ownership
Equity Method Investment	Structure	Percentage			Segment
Webb/Duval Gatherers (“Webb Duval”)	Texas general partnership		62.50	%	Texas
Eagle Ford Gathering LLC (“Eagle Ford Gathering”)	Delaware limited liability company		50.00	%	Texas
Liberty Pipeline Group, LLC (“Liberty Pipeline Group”)	Delaware limited liability company		50.00	%	Texas
Southern Dome, LLC (“Southern Dome”)	Delaware limited liability company		69.50	%(1)	Oklahoma
Bighorn Gas Gathering, L.L.C. (“Bighorn”)	Delaware limited liability company		51.00	%	Rocky Mountains
Fort Union Gas Gathering, L.L.C. (“Fort Union”)	Delaware limited liability company		37.04	%	Rocky Mountains

(1) Represents Copano’s right to distributions from Southern Dome

Summarized financial information for significant equity investments

	As of and for the
	Nine Months Ended September 30,
	2011			2010
	(In thousands)
Operating revenue	$	10,494		$	—
Operating expenses		(5,609	)		(41	)
Depreciation and amortization		(1,064	)		—
Net income (loss)		3,821			(41	)
Ownership %		50	%		50	%
		1,911			(21	)
Copano’s share of management fees charged		74			20
Amortization of difference between the carried investment and the underlying equity in net assets		(7	)		—
Equity in earnings (loss) from unconsolidated affiliates	$	1,978		$	(1	)
Distributions	$	775		$	—
Contributions	$	73,514		$	9,492
Current assets	$	21,464		$	11,667
Noncurrent assets		211,859			22,763
Current liabilities		(23,886	)		(15,486	)
Noncurrent liabilities		(272	)		—
Net assets	$	209,165		$	18,944

	As of and for the Nine Months Ended September 30,
	2011						2010
	Bighorn			Fort Union			Bighorn			Fort Union
	(In thousands)
Operating revenue	$	20,436		$	41,011		$	23,793		$	42,852
Operating expenses		(7,089	)		(5,175	)		(8,904	)		(5,362	)
Depreciation and amortization		(3,874	)		(5,994	)		(3,887	)		(5,628	)
Interest income (expense) and other		62			(1,705	)		77			(3,520	)
Net income		9,535			28,137			11,079			28,342
Ownership %		51	%		37.04	%		51	%		37.04	%
		4,863			10,422			5,650			10,498
Priority allocation of earnings and other		460			—			379			—
Copano’s share of management fees charged		147			68			213			66
Amortization of difference between the carried investment and the underlying equity in net assets and impairment		(128,445	)		(49,817	)		(33,899	)		(4,817	)
Equity in (loss) earnings from unconsolidated affiliates	$	(122,975	)	$	(39,327	)	$	(27,657	)	$	5,747
Distributions	$	7,415		$	9,927		$	8,423		$	8,704
Contributions	$	530		$	—		$	810		$	774
Current assets	$	5,304		$	12,447		$	6,188		$	14,424
Noncurrent assets		86,587			198,227			89,750			206,580
Current liabilities		(1,852	)		(20,285	)		(1,206	)		(19,949	)
Noncurrent liabilities		(289	)		(63,046	)		(257	)		(78,190	)
Net assets	$	89,750		$	127,343		$	94,475		$	122,865

Summarized financial information of other unconsolidated investments

	As of and for the
	Nine Months Ended September 30,
	2011			2010
	(In thousands)
Operating revenue	$	21,283		$	24,112
Operating expenses		(17,887	)		(20,132	)
Depreciation and amortization		(1,394	)		(1,137	)
Other income, net		—			3
Net income	$	2,002		$	2,846
Equity in earnings from unconsolidated affiliates	$	1,743		$	2,123
Distributions	$	2,212		$	2,427
Contributions(1)	$	27,391		$	—
Current assets	$	5,306		$	4,278
Noncurrent assets		71,471			20,847
Current liabilities		(6,876	)		(5,594	)
Noncurrent liabilities		(170	)		(61	)
Net assets	$	69,731		$	19,470

(1) Contributions for the nine months ended September 30, 2011 were primarily made to Liberty Pipeline Group for the construction of its NGL pipeline.