September 20, 2014 8:11 PM ET

Capital Markets

Company Overview of CorEnergy Infrastructure Trust, Inc.

Company Overview

CorEnergy Infrastructure Trust, Inc. is a trust launched and managed by Corridor InfraTrust Management, LLC. The trust primarily owns midstream and downstream U.S. energy infrastructure assets subject to long-term triple net participating leases with energy companies. The assets include pipelines, storage tanks, transmission lines and gathering systems. It was previously known as Tortoise Capital Resources Corp. CorEnergy Infrastructure Trust, Inc. was formed on September 8, 2005 and is domiciled in the United States.

4200 West 115th Street

Suite 210

Leawood, KS 66211

United States

Founded in 2005

Phone:

913-387-2790

Fax:

913-387-2791

Key Executives for CorEnergy Infrastructure Trust, Inc.

Chief Executive Officer
Age: 53
Principal Financial Officer
Age: 53
Senior Vice President
Senior Vice President
Assistant Secretary
Compensation as of Fiscal Year 2014.

CorEnergy Infrastructure Trust, Inc. Key Developments

CorEnergy Infrastructure Trust, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

CorEnergy Infrastructure Trust, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue was $9,019,012 against $7,568,016 a year ago. Operating income was $2,865,268 against $1,600,269 a year ago. Income before income taxes was $4,135,922 against $664,719 a year ago. Net income attributable to the company was $3,005,908 against $70,072 a year ago. Diluted earnings per share were $0.10 against nil per share a year ago. Funds from operations were $4,799,701 or $0.15 per share against $3,106,014 or $0.13 per share a year ago. Adjusted funds from operations were $4,470,169 or $0.14 per share against $2,978,399 or $0.12 per share a year ago. For the six months, the company reported revenue was $19,066,569 against $15,721,833 a year ago. Operating income was $5,402,793 against $3,400,708 a year ago. Income before income taxes was $7,145,708 against $4,482,950 a year ago. Net income attributable to the company was $5,111,067 against $2,482,825 a year ago. Diluted earnings per share were $0.17 against $0.10 per share a year ago. Net cash provided by operating activities was $12,340,116 against $4,990,288 a year ago. Funds from operations were $9,335,633 or $0.30 per share against $6,557,660 or $0.27 per share a year ago. Adjusted funds from operations were $8,671,957 or $0.28 per share against $6,103,860 or $0.25 per share a year ago.

CorEnergy Infrastructure Trust, Inc. Signs A Non-Binding Term Sheet for a New Credit Facility

CorEnergy Infrastructure Trust, Inc. has signed a non-binding term sheet for a new credit facility that will replace the company's current credit facility. The new credit facility has anticipated capacity of up to $30 million. Management expects to complete this additional financing in the third quarter and anticipates using the credit facility thereafter to fund property acquisitions, capital improvements or for other permitted corporate purposes. Management expects that the Portland Terminal Facility will qualify as eligible collateral under the facility. Management believes the increased availability of additional senior debt will allow for greater financial flexibility.

CorEnergy Infrastructure Seeks Acquisitions

CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) is looking for acquisition opportunities. David Schulte, Chief Executive Officer of CorEnergy, said, "For the second half of 2014, we have already closed a follow-on water disposal well acquisition financing and remain active in reviewing potential acquisitions."

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