Long Term Debt (Tables)

9 Months Ended

Sep. 30, 2011

Long-Term Debt [Abstract]

Long-Term Debt

	September 30,		December 31,
	2011		2010
	(In thousands)
Revolving credit facility	$	295,000	$	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	$	904,525	$	592,736

Condensed consolidating financial information

	September 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	$	4,142		$	—		$	49,392		$	—		$	—		$	53,534		$	9,650		$	—		$	50,280		$	—	$	—		$	59,930
Accounts receivable, net		2			—			108,337			—			—			108,339			14			—			96,648			—		—			96,662
Intercompany receivable		128,659			(1	)		(128,658	)		—			—			—			35,178			(1	)		(35,177	)		—		—			—
Risk management assets		—			—			12,101			—			—			12,101			—			—			7,836			—		—			7,836
Prepayments and other current assets		1,916			—			6,395			—			—			8,311			3,378			—			1,801			—		—			5,179
Total current assets		134,719			(1	)		47,567			—			—			182,285			48,220			(1	)		121,388			—		—			169,607
Property, plant and equipment, net		26			—			1,078,922			—			—			1,078,948			56			—			912,101			—		—			912,157
Intangible assets, net		—			—			179,992			—			—			179,992			—			—			188,585			—		—			188,585
Investments in unconsolidated affiliates		—			—			529,958			529,958			(529,958	)		529,958			—			—			604,304			604,304		(604,304	)		604,304
Investments in consolidated subsidiaries		1,683,951			—			—			—			(1,683,951	)		—			1,703,940			—			—			—		(1,703,940	)		—
Escrow cash		—			—			1,850			—			—			1,850			—			—			1,856			—		—			1,856
Risk management assets		—			—			17,128			—			—			17,128			—			—			11,943			—		—			11,943
Other assets, net		21,831			—			5,908			—			—			27,739			13,128			—			5,413			—		—			18,541
Total assets	$	1,840,527		$	(1	)	$	1,861,325		$	529,958		$	(2,213,909	)	$	2,017,900		$	1,765,344		$	(1	)	$	1,845,590		$	604,304	$	(2,308,244	)	$	1,906,993
LIABILITIES AND MEMBERS’/PARTNERS’ CAPITAL
Current liabilities:
Accounts payable	$	1,458		$	—		$	139,334		$	—		$	—		$	140,792		$	17		$	—		$	117,689		$	—	$	—		$	117,706
Accrued interest		19,945			—			—			—			—			19,945			10,621			—			—			—		—			10,621
Accrued tax liability		892			—			—			—			—			892			913			—			—			—		—			913
Risk management liabilities		—			—			7,285			—			—			7,285			—			—			9,357			—		—			9,357
Other current liabilities		5,343			—			28,605			—			—			33,948			4,266			—			10,229			—		—			14,495
Total current liabilities		27,638			—			175,224			—			—			202,862			15,817			—			137,275			—		—			153,092
Long-term debt		904,525			—			—			—			—			904,525			592,736			—			—			—		—			592,736
Deferred tax liability		2,048			—			87			—			—			2,135			1,848			—			35			—		—			1,883
Risk management and other noncurrent liabilities		88			—			2,062			—			—			2,150			186			—			4,339			—		—			4,525
Members’/Partners’ capital:
Series A convertible preferred units		285,168			—			—			—			—			285,168			285,172			—			—			—		—			285,172
Common units		1,164,399			—			—			—			—			1,164,399			1,161,652			—			—			—		—			1,161,652
Paid in capital		59,250			1			1,214,619			686,291			(1,900,911	)		59,250			51,743			1			1,162,543			602,055		(1,764,599	)		51,743
Accumulated deficit		(592,676	)		(2	)		479,246			(156,333	)		(322,911	)		(592,676	)		(313,454	)		(2	)		571,754			2,249		(574,001	)		(313,454	)
Accumulated other comprehensive loss		(9,913	)		—			(9,913	)		—			9,913			(9,913	)		(30,356	)		—			(30,356	)		—		30,356			(30,356	)
		906,228			(1	)		1,683,952			529,958			(2,213,909	)		906,228			1,154,757			(1	)		1,703,941			604,304		(2,308,244	)		1,154,757
Total liabilities and members’/partners’ capital	$	1,840,527		$	(1	)	$	1,861,325		$	529,958		$	(2,213,909	)	$	2,017,900		$	1,765,344		$	(1	)	$	1,845,590		$	604,304	$	(2,308,244	)	$	1,906,993

	Three Months Ended September 30, 2011																	Three Months Ended September 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	$	—		$	—	$	120,815		$	—		$	—		$	120,815		$	—		$	—	$	87,524		$	—		$	—		$	87,524
Natural gas liquids sales		—			—		191,370			—			—			191,370			—			—		118,999			—			—			118,999
Transportation, compression and processing fees		—			—		30,337			—			—			30,337			—			—		17,909			—			—			17,909
Condensate and other		—			—		11,169			—			—			11,169			—			—		13,272			—			—			13,272
Total revenue		—			—		353,691			—			—			353,691			—			—		237,704			—			—			237,704
Costs and expenses:
Cost of natural gas and natural gas liquids		—			—		281,858			—			—			281,858			—			—		174,461			—			—			174,461
Transportation		—			—		6,991			—			—			6,991			—			—		5,340			—			—			5,340
Operations and maintenance		—			—		16,091			—			—			16,091			—			—		13,004			—			—			13,004
Depreciation, amortization and impairment		10			—		21,901			—			—			21,911			10			—		15,208			—			—			15,218
General and administrative		4,460			—		5,571			—			—			10,031			4,692			—		5,177			—			—			9,869
Taxes other than income		—			—		1,502			—			—			1,502			—			—		1,315			—			—			1,315
Equity in loss (earnings) from unconsolidated affiliates		—			—		161,589			161,589			(161,589	)		161,589			—			—		(2,049	)		(2,049	)		2,049			(2,049	)
Total costs and expenses		4,470			—		495,503			161,589			(161,589	)		499,973			4,702			—		212,456			(2,049	)		2,049			217,158
Operating (loss) income		(4,470	)		—		(141,812	)		(161,589	)		161,589			(146,282	)		(4,702	)		—		25,248			2,049			(2,049	)		20,546
Other income (expense):
Interest and other income		—			—		16			—			—			16			—			—		15			—			—			15
Interest and other financing costs		(10,952	)		—		(128	)		—			—			(11,080	)		(11,725	)		—		(1,218	)		—			—			(12,943	)
(Loss) income before income taxes and equity in earnings from consolidated subsidiaries		(15,422	)		—		(141,924	)		(161,589	)		161,589			(157,346	)		(16,427	)		—		24,045			2,049			(2,049	)		7,618
Provision for income taxes		(365	)		—		(25	)		—			—			(390	)		(285	)		—		(35	)		—			—			(320	)
(Loss) income before equity in earnings from consolidated subsidiaries		(15,787	)		—		(141,949	)		(161,589	)		161,589			(157,736	)		(16,712	)		—		24,010			2,049			(2,049	)		7,298
Equity in (loss) earnings from consolidated subsidiaries		(141,948	)		—		—			—			141,948			—			24,010			—		—			—			(24,010	)		—
Net (loss) income		(157,735	)		—		(141,949	)		(161,589	)		303,537			(157,736	)		7,298			—		24,010			2,049			(26,059	)		7,298
Preferred unit distributions		(8,279	)		—		—			—			—			(8,279	)		(7,500	)		—		—			—			—			(7,500	)
Net (loss) income to common units	$	(166,014	)	$	—	$	(141,949	)	$	(161,589	)	$	303,537		$	(166,015	)	$	(202	)	$	—	$	24,010		$	2,049		$	(26,059	)	$	(202	)

	Nine Months Ended September 30, 2011																	Nine Months Ended September 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	$	—		$	—	$	348,538		$	—		$	—		$	348,538		$	—		$	—	$	292,559		$	—		$	—		$	292,559
Natural gas liquids sales		—			—		521,129			—			—			521,129			—			—		353,119			—			—			353,119
Transportation, compression and processing fees		—			—		82,706			—			—			82,706			—			—		47,539			—			—			47,539
Condensate and other		—			—		37,299			—			—			37,299			—			—		41,204			—			—			41,204
Total revenue		—			—		989,672			—			—			989,672			—			—		734,421			—			—			734,421
Costs and expenses:
Cost of natural gas and natural gas liquids		—			—		779,986			—			—			779,986			—			—		551,939			—			—			551,939
Transportation		—			—		19,202			—			—			19,202			—			—		16,619			—			—			16,619
Operations and maintenance		—			—		46,953			—			—			46,953			—			—		38,337			—			—			38,337
Depreciation, amortization and impairment		30			—		56,113			—			—			56,143			30			—		45,972			—			—			46,002
General and administrative		17,876			—		16,654			—			—			34,530			15,718			—		15,593			—			—			31,311
Taxes other than income		—			—		4,029			—			—			4,029			—			—		3,658			—			—			3,658
Equity in loss (earnings) from unconsolidated affiliates		—			—		158,581			158,581			(158,581	)		158,581			—			—		19,788			19,788			(19,788	)		19,788
Total costs and expenses		17,906			—		1,081,518			158,581			(158,581	)		1,099,424			15,748			—		691,906			19,788			(19,788	)		707,654
Operating (loss) income		(17,906	)		—		(91,846	)		(158,581	)		158,581			(109,752	)		(15,748	)		—		42,515			(19,788	)		19,788			26,767
Other income (expense):
Interest and other income		—			—		31			—			—			31			—			—		59			—			—			59
Loss on refinancing of unsecured debt		(18,233	)		—		—			—			—			(18,233	)		—			—		—			—			—			—
Interest and other financing costs		(33,579	)		—		(871	)		—			—			(34,450	)		(37,789	)		—		(3,450	)		—			—			(41,239	)
(Loss) income before income taxes and equity in earnings from consolidated subsidiaries		(69,718	)		—		(92,686	)		(158,581	)		158,581			(162,404	)		(53,537	)		—		39,124			(19,788	)		19,788			(14,413	)
Provision for income taxes		(1,105	)		—		(56	)		—			—			(1,161	)		(625	)		—		(35	)		—			—			(660	)
(Loss) income before equity in earnings from consolidated subsidiaries		(70,823	)		—		(92,742	)		(158,581	)		158,581			(163,565	)		(54,162	)		—		39,089			(19,788	)		19,788			(15,073	)
Equity in (loss) earnings from consolidated subsidiaries		(92,742	)		—		—			—			92,742			—			39,089			—		—			—			(39,089	)		—
Net (loss) income		(163,565	)		—		(92,742	)		(158,581	)		251,323			(163,565	)		(15,073	)		—		39,089			(19,788	)		(19,301	)		(15,073	)
Preferred unit distributions		(24,235	)		—		—			—			—			(24,235	)		(7,500	)		—		—			—			—			(7,500	)
Net (loss) income to common units	$	(187,800	)	$	—	$	(92,742	)	$	(158,581	)	$	251,323		$	(187,800	)	$	(22,573	)	$	—	$	39,089		$	(19,788	)	$	(19,301	)	$	(22,573	)

	Nine Months Ended September 30, 2011																	Nine Months Ended September 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	$	(124,348	)	$	—	$	247,137		$	17,961		$	(17,961	)	$	122,789		$	(63,627	)	$	—		$	158,116		$	16,999		$	(16,999	)	$	94,489
Cash Flows From Investing Activities:
Additions to property, plant and equipment and intangibles		—			—		(180,639	)		—			—			(180,639	)		—			—			(103,524	)		—			—			(103,524	)
Acquisitions		—			—		(16,084	)		—			—			(16,084	)		—			—			—			—			—			—
Investments in unconsolidated affiliates		—			—		(105,111	)		(105,111	)		105,111			(105,111	)		—			—			(11,186	)		(11,186	)		11,186			(11,186	)
Distributions from unconsolidated affiliates		—			—		2,368			2,368			(2,368	)		2,368			—			—			2,555			2,555			(2,555	)		2,555
Investments in consolidated affiliates		(99,864	)		—		—			—			99,864			—			(61,832	)		1			—			—			61,831			—
Distributions from consolidated affiliates		48,775			—		—			—			(48,775	)		—			95,255			—			—			—			(95,255	)		—
Proceeds from sale of assets		—			—		248			—			—			248			—			—			279			—			—			279
Other		—			—		104			—			—			104			—			—			280			—			—			280
Net cash (used in) provided by investing activities		(51,089	)		—		(299,114	)		(102,743	)		153,832			(299,114	)		33,423			1			(111,596	)		(8,631	)		(24,793	)		(111,596	)
Cash Flows From Financing Activities:
Proceeds from long-term debt		725,000			—		—			—			—			725,000			80,000			—			—			—			—			80,000
Repayment of long-term debt		(412,665	)		—		—			—			—			(412,665	)		(350,000	)		—			—			—			—			(350,000	)
Deferred financing costs		(15,743	)		—		—			—			—			(15,743	)		(995	)		—			—			—			—			(995	)
Payments of premiums and expenses on redemption of unsecured debt		(14,572	)		—		—			—			—			(14,572	)		—			—			—			—			—			—
Distributions to unitholders		(114,834	)		—		—			—			—			(114,834	)		(107,612	)		—			—			—			—			(107,612	)
Proceeds from public offering of common units		—			—		—			—			—			—			164,786			—			—			—			—			164,786
Equity offering costs		(4	)		—		—			—			—			(4	)		(6,236	)		—			—			—			—			(6,236	)
Equity offering of Series A convertible preferred units		—			—		—			—			—			—			291,065			—			—			—			—			291,065
Contributions from parent		—			—		99,864			—			(99,864	)		—			—			—			61,831			—			(61,831	)		—
Distributions to parent		—			—		(48,775	)		—			48,775			—			—			—			(95,255	)		—			95,255			—
Other		2,747			—		—			(105,111	)		(105,111	)		2,747			3,188			—			—			11,186			(11,186	)		3,188
Net cash provided by (used in) financing activities		169,929			—		51,089			105,111			(156,200	)		169,929			74,196			—			(33,424	)		11,186			22,238			74,196
Net increase (decrease) in cash and cash equivalents		(5,508	)		—		(888	)		20,329			(20,329	)		(6,396	)		43,992			1			13,096			19,554			(19,554	)		57,089
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	$	4,142		$	—	$	49,392		$	106,180		$	(106,180	)	$	53,534		$	47,853		$	—		$	53,928		$	79,450		$	(79,450	)	$	101,781