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8-K
SOUTHERN UNION CO filed this Form 8-K on 11/05/2013
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ETP ER-09-30-2013-Ex 99.1


ENERGY TRANSFER PARTNERS
REPORTS THIRD QUARTER RESULTS
Dallas – November 5, 2013Energy Transfer Partners, L.P. (NYSE: ETP) today reported its financial results for the quarter ended September 30, 2013.
Adjusted EBITDA for Energy Transfer Partners, L.P. (“ETP”) for the three months ended September 30, 2013 totaled $942 million, an increase of $282 million over the same period last year. Distributable Cash Flow attributable to the partners of ETP for the three months ended September 30, 2013 totaled $527 million, an increase of $149 million over the same period last year. Income from continuing operations for the three months ended September 30, 2013 was $391 million, an increase of $185 million over the same period last year.
Adjusted EBITDA for ETP for the nine months ended September 30, 2013 totaled $2.97 billion, an increase of $1.17 billion over the same period last year. Distributable Cash Flow attributable to the partners of ETP for the nine months ended September 30, 2013 totaled $1.37 billion, an increase of $414 million over the same period last year. Income from continuing operations for the nine months ended September 30, 2013 was $1.20 billion, a decrease of $226 million compared to the same period last year. ETP recognized a one-time gain of $1.06 billion as a result of the contribution of ETP’s Propane Business in January 2012, which impacted comparability of income from continuing operations between periods.
The increases in Adjusted EBITDA and Distributable Cash Flow were primarily due to strategic acquisitions in 2012, including Sunoco, Inc. (“Sunoco”), ownership interests in Citrus Corp. (“Citrus”), Sunoco Logistics Partners L.P. (“Sunoco Logistics”), and ETP Holdco Corporation (“Holdco”). ETP has also placed more than $2.1 billion in growth projects into service over the last twelve months that are now generating earnings and cash flow.
ETP’s key accomplishments during or subsequent to the quarter include the following:
ETP’s Board of Directors approved an increase in its quarterly distribution to $0.905 per unit ($3.62 annualized) on ETP Common Units for the quarter ended September 30, 2013, representing an increase of $0.045 per common unit on an annualized basis.
ETP completed the sale of the assets of Missouri Gas Energy to Laclede Gas Company, a subsidiary of The Laclede Group, Inc., for $975 million.
The Department of Energy conditionally granted authorization to Energy Transfer Equity, L.P. (“ETE”), ETP and BG Group to export from the existing Trunkline LNG import terminal up to 15 million metric tonnes per annum of LNG to non-free trade agreement nations. ETE, ETP and BG Group subsequently announced their entry into a project development agreement to jointly develop the LNG export project at the existing Trunkline LNG import terminal in Lake Charles, Louisiana.
ETP and ETE exchanged 50.2 million ETP Common Units, owned by ETE, for newly issued Class H Units by ETP that track 50.05% of the underlying economics of the general partner interest and incentive distribution rights of Sunoco Logistics.
ETP and Regency Energy Partners LP (“Regency”) announced that Lone Star NGL LLC (“Lone Star”), a joint venture between ETP and Regency, has placed in service a second natural gas liquids fractionator at its facility in Mont Belvieu, Texas, bringing Lone Star’s total fractionation capacity at Mont Belvieu to 200,000 barrels per day.
An analysis of ETP’s segment results and other supplementary data is provided after the financial tables shown below. ETP has scheduled a conference call for 8:30 a.m. Central Time, Wednesday, November 6, 2013 to discuss the third quarter 2013 results. The conference call will be broadcast live via an internet web cast which can be accessed through www.energytransfer.com and will also be available for replay on ETP’s web site for a limited time.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently owns and operates approximately 43,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. ETP owns 100% of ETP Holdco Corporation, which owns Southern Union Company and Sunoco, Inc., and a 70% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 33.5 million common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing

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