Duncan Energy Partners (DEP) Reports Results for Q3 2009
October 28, 2009 6:51 AM
Duncan Energy Partners L.P. (NYSE: DEP) announced its financial and operating results for the three and nine months ended September 30, 2009. The partnership reported a 134 percent increase in net income attributable to Duncan Energy Partners of $24.M, or $0.43 per common unit on a fully diluted basis, for the third quarter of 2009 compared to $10.6M, or $0.18 per common unit on a fully diluted basis, for the third quarter of 2008.
The primary reason for the quarter-to-quarter increase in net income attributable to Duncan Energy Partners was earnings of $15.7M from ownership interests in midstream businesses DEP acquired from Enterprise Products Partners L.P. (“Enterprise”) in December 2008 (the “DEP II Midstream Businesses”).
Duncan Energy Partners is a publicly traded partnership that provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, in addition to NGL fractionation (or separation), transportation and storage and petrochemical transportation and storage.
