10.	Guarantor Condensed Consolidating Financial Information

The Partnership, as the parent company, has no independent assets or operations. The Partnership’s operations are conducted by its subsidiaries through its primary operating company subsidiary, Access MLP Operating, L.L.C., a direct 100 percent owned subsidiary of the Partnership. The Partnership’s obligations under its outstanding senior notes listed in Note 4 are fully and unconditionally guaranteed, jointly and severally, by certain of its direct and indirect 100 percent owned subsidiaries on a senior unsecured basis, subject to certain automatic customary releases, including sale, disposition, or transfer of the capital stock or substantially all of the assets of a subsidiary guarantor, exercise of legal defeasance option or covenant defeasance option, and designation of a subsidiary guarantor as unrestricted in accordance with the applicable indenture. The Partnership’s subsidiaries Cardinal Gas Services, L.L.C., Jackalope Gas Gathering Services, L.L.C. and Pecan Hill Water Solutions, LLC are not guarantors of the Partnership’s senior notes or credit facility.

Set forth below are condensed consolidating financial statements for the Partnership, as the parent company, on a stand-alone, unconsolidated basis, and its combined guarantor and combined non-guarantor subsidiaries as of September 30, 2014 and December 31, 2013 and for the three and nine-month periods ended September 30, 2014 and 2013. These schedules are presented using the equity method of accounting for all periods presented. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the subsidiaries operated as independent entities.

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF SEPTEMBER 30, 2014

($ in thousands)

			Guarantor			Non-Guarantor
	Parent		Subsidiaries			Subsidiaries			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	-	$	7		$	27,854		$	-		$	27,861
Accounts receivable		-		175,357			35,022			-			210,379
Intercompany receivable from parent		-		7,972			610			(8,582	)		-
Prepaid expenses		-		17,491			232			-			17,723
Other current assets		-		9,199			308			-			9,507
Total current assets		-		210,026			64,026			(8,582	)		265,470

Property, plant and equipment
Gathering systems		-		5,522,305			1,086,854			-			6,609,159
Other fixed assets		-		379,046			1,056			-			380,102
Less: Accumulated depreciation		-		(1,021,418	)		(28,711	)		-			(1,050,129	)
Total property, plant and equipment, net		-		4,879,933			1,059,199			-			5,939,132
Investments in unconsolidated affiliates		3,270,157		2,799,550			-			(3,891,808	)		2,177,899
Intangible customer relationships, net		-		354,558			-			-			354,558
Intercompany receivable from parent		4,270,190		-			-			(4,270,190	)		-
Deferred loan costs, net		61,879		-			-			-			61,879

Total assets	$	7,602,226	$	8,244,067		$	1,123,225		$	(8,170,580	)	$	8,798,938


Current liabilities
Accounts payable	$	-	$	39,140		$	24,438		$	-		$	63,578
Accrued liabilities		-		180,814			50,156			-			230,970
Intercompany payable to parent		-		-			8,582			(8,582	)		-
Total current liabilities		-		219,954			83,176			(8,582	)		294,548

Long-term liabilities
Long-term debt		3,655,228		465,500			-			-			4,120,728
Intercompany payable to parent		-		4,270,190			-			(4,270,190	)		-
Other liabilities		-		18,266			590			-			18,856
Total long-term liabilities		3,655,228		4,753,956			590			(4,270,190	)		4,139,584

Partners' capital
Total partners' capital attributable to Access Midstream Partners, L.P.		3,946,998		3,270,157			1,039,459			(4,309,616	)		3,946,998
Noncontrolling interest		-		-			-			417,808			417,808
Total partners' capital		3,946,998		3,270,157			1,039,459			(3,891,808	)		4,364,806
Total liabilities and partners' capital	$	7,602,226	$	8,244,067		$	1,123,225		$	(8,170,580	)	$	8,798,938

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2013

($ in thousands)

			Guarantor			Non-Guarantor
	Parent		Subsidiaries			Subsidiaries			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	-	$	400		$	16,829		$	-		$	17,229
Accounts receivable		-		202,007			20,402			-			222,409
Prepaid expenses		-		10,182			-			-			10,182
Other current assets		-		7,569			542			-			8,111
Total current assets		-		220,158			37,773			-			257,931

Property, plant and equipment
Gathering systems		-		5,295,771			679,169			-			5,974,940
Other fixed assets		-		175,397			14			-			175,411
Less: Accumulated depreciation		-		(845,892	)		(13,659	)		-			(859,551	)
Total property, plant and equipment, net		-		4,625,276			665,524			-			5,290,800
Investments in unconsolidated affiliates		3,076,205		2,315,988			-			(3,455,590	)		1,936,603
Intangible customer relationships, net		-		372,391			-			-			372,391
Intercompany receivable from parent		3,882,291		3,105			20,330			(3,905,726	)		-
Deferred loan costs, net		46,140		13,581			-			-			59,721

Total assets	$	7,004,636	$	7,550,499		$	723,627		$	(7,361,316	)	$	7,917,446


Current liabilities
Accounts payable	$	-	$	36,638		$	882		$	-		$	37,520
Accrued liabilities		-		203,099			65,853			-			268,952
Intercompany payable to parent		-		-			23,435			(23,435	)		-
Total current liabilities		-		239,737			90,170			(23,435	)		306,472

Long-term liabilities
Long-term debt		2,905,730		343,500			-			-			3,249,230
Intercompany payable to parent		-		3,882,290			-			(3,882,290	)		-
Other liabilities		-		8,767			187			-			8,954
Total long-term liabilities		2,905,730		4,234,557			187			(3,882,290	)		3,258,184

Partners' capital
Total partners' capital attributable to Access Midstream Partners, L.P.		4,098,906		3,076,205			633,270			(3,709,475	)		4,098,906
Noncontrolling interest		-					-			253,884			253,884
Total partners' capital		4,098,906		3,076,205			633,270			(3,455,591	)		4,352,790
Total liabilities and partners' capital	$	7,004,636	$	7,550,499		$	723,627		$	(7,361,316	)	$	7,917,446

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014

($ in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries		Eliminations			Consolidated

Revenues	$	-		$	262,423	$	51,426	$	-		$	313,849

Operating expenses
Operating expenses		-			103,592		13,060		-			116,652
Depreciation and amortization expense		-			61,095		5,359		-			66,454
General and administrative expense		-			81,943		2,714		-			84,657
Other operating (income) expense		-			2,799		-		-			2,799
Total operating expenses		-			249,429		21,133		-			270,562
Operating income		-			12,994		30,293		-			43,287

Other income (expense)
Income from unconsolidated affiliates		85,583			72,729		-		(105,245	)		53,067
Interest expense		(44,368	)		-		15		-			(44,353	)
Other income		-			170		42		-			212
Income before income tax expense		41,215			85,893		30,350		(105,245	)		52,213
Income tax expense		-			311		-		-			311
Net income		41,215			85,582		30,350		(105,245	)		51,902
Net income attributable to noncontrolling interests		-			-		-		10,684			10,684
Net income attributable to Access Midstream Partners, L.P.	$	41,215		$	85,582	$	30,350	$	(115,929	)	$	41,218

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2013

($ in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries		Eliminations			Consolidated

Revenues	$	-		$	242,082		$	18,861	$	-		$	260,943

Operating expenses
Operating expenses		-			72,822			10,711		-			83,533
Depreciation and amortization expense		-			73,835			3,251		-			77,086
General and administrative expense		-			23,412			1,058		-			24,470
Other operating expense		-			(437	)		198		-			(239	)
Total operating expenses		-			169,632			15,218		-			184,850
Operating income		-			72,450			3,643		-			76,093

Other income (expense)
Income from unconsolidated affiliates		106,824			35,525			-		(109,514	)		32,835
Interest expense		(28,607	)		-			7		-			(28,600	)
Other income		-			204			32		-			236
Income before income tax expense		78,217			108,179			3,682		(109,514	)		80,564
Income tax expense		-			1,353			-		-			1,353
Net income		78,217			106,826			3,682		(109,514	)		79,211
Net income attributable to noncontrolling interests		-			-			-		994			994
Net income attributable to Access Midstream Partners, L.P.	$	78,217		$	106,826		$	3,682	$	(110,508	)	$	78,217

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014

($ in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated

Revenues	$	-		$	761,873	$	121,988		$	-		$	883,861

Operating expenses
Operating expenses		-			263,802		43,286			-			307,088
Depreciation and amortization expense		-			226,417		15,557			-			241,974
General and administrative expense		-			149,823		6,271			-			156,094
Other operating (income) expense		-			4,327		(40	)		-			4,287
Total operating expenses		-			644,369		65,074			-			709,443
Operating income		-			117,504		56,914			-			174,418

Other income (expense)
Income from unconsolidated affiliates		295,591			180,883		-			(332,466	)		144,008
Interest expense		(125,844	)		-		15			-			(125,829	)
Other income		-			703		99			-			802
Income before income tax expense		169,747			299,090		57,028			(332,466	)		193,399
Income tax expense		-			3,500		-			-			3,500
Net income		169,747			295,590		57,028			(332,466	)		189,899
Net income attributable to noncontrolling interests		-			-		-			20,149			20,149
Net income attributable to Access Midstream Partners, L.P.	$	169,747		$	295,590	$	57,028		$	(352,615	)	$	169,750

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013

($ in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries		Eliminations			Consolidated

Revenues	$	-		$	709,322	$	35,822	$	-		$	745,144

Operating expenses
Operating expenses		-			233,333		15,807		-			249,140
Depreciation and amortization expense		-			208,209		7,396		-			215,605
General and administrative expense		-			71,532		1,761		-			73,293
Other operating expense		-			1,546		198		-			1,744
Total operating expenses		-			514,620		25,162		-			539,782
Operating income		-			194,702		10,660		-			205,362

Other income (expense)
Income from unconsolidated affiliates		290,382			98,950		-		(297,744	)		91,588
Interest expense		(83,413	)		-		19		-			(83,394	)
Other income		-			585		46		-			631
Income before income tax expense		206,969			294,237		10,725		(297,744	)		214,187
Income tax expense		-			3,853		-		-			3,853
Net income		206,969			290,384		10,725		(297,744	)		210,334
Net income attributable to noncontrolling interests		-			-		-		3,366			3,366
Net income attributable to Access Midstream Partners, L.P.	$	206,969		$	290,384	$	10,725	$	(301,110	)	$	206,968

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014

($ in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations		Consolidated

Cash flows from operating activities	$	-		$	450,610		$	82,725		$	-	$	533,335

Cash flows from investing activities
Additions to property, plant and equipment		-			(346,924	)		(420,952	)		-		(767,876	)
Purchase of compression assets		-			(159,210	)		-			-		(159,210	)
Investments in unconsolidated affiliates		-			(286,267	)		-			-		(286,267	)
Proceeds from sale of assets		-			21,099			91			-		21,190
Net cash used in investing activities		-			(771,302	)		(420,861	)		-		(1,192,163	)

Cash flows from financing activities
Proceeds from long-term borrowings		-			1,881,771			-			-		1,881,771
Payments on long-term debt borrowings		-			(1,759,771	)		-			-		(1,759,771	)
Proceeds from issuance of common units		52,155			-			-			-		52,155
Proceeds from issuance of senior notes		750,000			-			-			-		750,000
Distributions to unitholders		(390,615	)		-			-			-		(390,615	)
Capital contributions from noncontrolling interests		-			-			143,775			-		143,775
Payments on capital lease obligations		-			(2,591	)		-			-		(2,591	)
Debt issuance costs		(8,929	)		-			-			-		(8,929	)
Other		3,665			-			-			-		3,665
Intercompany advances, net		(406,276	)		200,890			205,386			-		-
Net cash provided by financing activities		-			320,299			349,161			-		669,460

Net increase in cash and cash equivalents		-			(393	)		11,025			-		10,632
Cash and cash equivalents, beginning of period		-			400			16,829			-		17,229
Cash and cash equivalents, end of period	$	-		$	7		$	27,854		$	-	$	27,861

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013

($ in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations		Consolidated

Cash flows from operating activities	$	-		$	329,001		$	29,005		$	-	$	358,006

Cash flows from investing activities
Additions to property, plant and equipment		-			(496,602	)		(314,509	)		-		(811,111	)
Investments in unconsolidated affiliates		-			(425,298	)		-			-		(425,298	)
Proceeds from sale of assets		-			72,408			-			-		72,408
Net cash used in investing activities		-			(849,492	)		(314,509	)		-		(1,164,001	)

Cash flows from financing activities
Proceeds from long-term borrowings		-			1,445,500			-			-		1,445,500
Payments on long-term debt borrowings		-			(1,340,700	)		-			-		(1,340,700	)
Proceeds from issuance of common units		399,812			-			-			-		399,812
Proceeds from issuance of senior notes		414,094			-			-			-		414,094
Distributions to unitholders		(275,199	)		-			-			-		(275,199	)
Capital contributions from noncontrolling interests		-			-			120,594			-		120,594
Payments on capital lease obligations		-			-			-			-		-
Debt issuance costs		(6,286	)		(5,449	)		-			-		(11,735	)
Other		8,598			-			-			-		8,598
Intercompany advances, net		(541,019	)		357,331			183,688			-		-
Net cash provided by financing activities		-			456,682			304,282			-		760,964

Net increase in cash and cash equivalents		-			(63,809	)		18,778			-		(45,031	)
Cash and cash equivalents, beginning of period		-			63,216			1,778			-		64,994
Cash and cash equivalents, end of period	$	-		$	(593	)	$	20,556		$	-	$	19,963