July 30, 2014 8:24 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Inergy, L.P.

Company Overview

As of June 19, 2013, Inergy, L.P. was acquired by Crestwood Gas Services GP LLC, in a reverse merger transaction. Inergy, L.P., an integrated energy midstream master limited partnership, engages in the storage and transportation of natural gas and natural gas liquids (NGL) in the United States and Canada. The company’s activities also include marketing, supply, fractionation, transportation, and price risk management services for producers, marketers, retailers, and resellers. In addition, it engages in the production and sale of salt products. The company owns and operates four natural gas storage facilities that include Stagecoach, Thomas Corners, Steuben, and Seneca Lake; natural gas tran...

Two Brush Creek Boulevard

Suite 200

Kansas City, MO 64112

United States

653 Employees

Phone:

816-842-8181

Fax:

816-842-1904

Key Executives for Inergy, L.P.

Inergy, L.P. does not have any Key Executives recorded.

Inergy, L.P. Key Developments

Inergy to Build Third Plant in Russia

Inergy will build a plant for the production of fuel systems in the industrial park "Marino" in St. Petersburg. Production area of 5,000 square meters is scheduled to be opened in 2014. The company intends to produce in Russia more than a million fuel tanks annually by 2015, which will allow it to take 40% of the local market.

Inergy, L.P. Presents at Citi MLP / Midstream Infrastructure Conference, Aug-21-2013

Inergy, L.P. Presents at Citi MLP / Midstream Infrastructure Conference, Aug-21-2013 . Venue: 3121 Las Vegas Boulevard South, Las Vegas, NV 89109, United States.

Inergy, L.P. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Declares Quarterly Cash Distribution, Payable on August 14, 2013

Inergy, L.P. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company announced total operating revenues of $118.9 million compared to $55.2 million for the same period a year ago. Operating income was $7.8 million compared to $17.5 million for the same period a year ago. Loss before income taxes was $4.2 million compared to income before income taxes of $8.6 million for the same period a year ago. Net loss was $4.5 million compared to net income of $8.3 million for the same period a year ago. Net income attributable to the company was $1.6 million compared to $3.4 million for the same period a year ago. Common unit holders' interest in net income was $1.5 million compared to $3.0 million for the same period a year ago. Basic and diluted net income per unit was $0.03 compared to $0.09 for the same period a year ago. EBITDA was $35.8 million compared to $36.6 million for the same period a year ago. Adjusted EBITDA was $47.8 million compared to $32.6 million for the same period a year ago. Maintenance capital expenditures were $2.1 million compared to $1.1 million for the same period a year ago. Distributable cash flow attributable to the company was $28.8 million compared to $29.1 million for the same period a year ago. Net cash provided by operating activities was $23.3 million compared to $20.1 million for the same period a year ago. For the six months, the company announced total operating revenues of $191.3 million compared to $109.0 million for the same period a year ago. Operating income was $23.5 million compared to $29.9 million for the same period a year ago. Income before income taxes was $0.1 million compared to $13.4 million for the same period a year ago. Net loss was $0.6 million compared to net income of $12.8 million for the same period a year ago. Net income attributable to the company was $6.7 million compared to $6.7 million for the same period a year ago. Common unit holders' interest in net income was $6.1 million compared to $6.0 million for the same period a year ago. Basic and diluted net income per unit was $0.14 compared to $0.17 for the same period a year ago. EBITDA was $73.9 million compared to $64.9 million for the same period a year ago. Adjusted EBITDA was $87.2 million compared to $61.4 million for the same period a year ago. The increase in the adjusted EBITDA over the prior year is primarily driven by CMLP, as Doc has described in his remarks, and the contribution from the consolidated results of NRGY subsequent to the June 19 closing date of the transaction. Maintenance capital expenditures were $3.0 million compared to $1.6 million for the same period a year ago. Distributable cash flow attributable to the company was $72.1 million compared to $124.1 million for the same period a year ago. Net cash provided by operating activities was $57.4 million compared to $42.2 million for the same period a year ago. The company had approximately $80 million of capital expenditures through June 30, which the company funded primarily through its public equity offering that the company did in the first quarter of 2013. These capital expenditures primarily related to the growth capital projects that Bob referred to earlier in the Marcellus, which are anticipated to fuel Crestwood’s growth in the area in the future quarters. The company declared a quarterly cash distribution of $0.13 per limited partner unit to the company unit holders, payable on August 14, 2013.

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