Western Gas Partners LP (NYSE:WES) announced second-quarter 2011 financial and operating results. Net income available to limited partners for the second quarter totaled $32.1 million, or $0.39 per limited partner unit (diluted). Net income includes the effects of a $1.9 million realized loss on an interest-rate hedge entered in connection with the Partnership's issuance in May 2011 of $500 million in 5.375% Senior Unsecured Notes. The Partnership's second-quarter Adjusted EBITDA was $63.5 million and distributable cash flow was $56.6 million, resulting in a coverage ratio of 1.57 times for the period.
Western Gas Partners, LP, together with its subsidiaries, engages in the acquisition, ownership, development, and operation of midstream energy assets in east and west Texas, the Rocky Mountains, and the Mid-Continent.
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