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SEC Filings
8-K
ENERGY TRANSFER, LP filed this Form 8-K on 11/07/2017
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Midstream
 
Three Months Ended
September 30,
 
2017
 
2016
Gathered volumes (MMBtu/d)
11,090,285

 
9,675,003

NGLs produced (Bbls/d)
449,454

 
420,877

Equity NGLs (Bbls/d)
27,185

 
34,341

Revenues
$
1,765

 
$
1,343

Cost of products sold
1,235

 
867

Segment margin
530

 
476

Unrealized losses on commodity risk management activities
1

 

Operating expenses, excluding non-cash compensation expense
(157
)
 
(153
)
Selling, general and administrative expenses, excluding non-cash compensation expense
(26
)
 
(17
)
Adjusted EBITDA related to unconsolidated affiliates
6

 
7

Other
2

 
1

Segment Adjusted EBITDA
$
356

 
$
314

Gathered volumes and NGL production increased primarily due to recent acquisitions, including PennTex, and gains in the Permian and Northeast regions, partially offset by basin declines in the South Texas, North Texas, and Mid-Continent/Panhandle regions.
Segment Adjusted EBITDA. For the three months ended September 30, 2017 compared to the same period last year, Segment Adjusted EBITDA related to our midstream segment increased due to the net effects of the following:
an increase of $24 million (excluding net changes in unrealized gains and losses of $1 million) in non-fee based margin due to higher crude oil and NGL prices;
an increase of $16 million in fee-based revenue due to minimum volume commitments in the South Texas region, as well as volume increases in the Permian and Northeast regions. These increases were partially offset by volume declines in South Texas, North Texas and the Mid-Continent/Panhandle regions; and
an increase of $15 million in fee-based revenue due to recent acquisitions, including PennTex; partially offset by
an increase of $4 million in operating expenses primarily due to recent acquisitions, including PennTex; and
an increase in selling, general and administrative expenses primarily due to an increase in shared services allocation.

11

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