Tallgrass Energy, LP (NASDAQ:TGE) Q2 2016 Earnings Conference Call - Preliminary Transcript

Aug 03, 2016 • 04:30 pm ET


Tallgrass Energy, LP (NASDAQ:TGE) Q2 2016 Earnings Conference Call - Preliminary Transcript


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Good day everyone and welcome to the Tallgrass Energy Quarterly Investor Conference Call. At this time, I would like turn the conference over to Nate Lien. Please go head, sir.

Nate Lien

Thank you. Good afternoon, everyone. We appreciate you joining us as we discuss, among other things, the Tallgrass Energy partners and Tallgrass Energy GP results from the second quarter of 2016, which are released through our joint press release and 10-Q this afternoon. Joining me on the call this afternoon are David Dehaemers Tallgrass President and Chief Executive Officer Bill Moler Tallgrass Executive Vice President and Chief Operating Officer and Gary Brauchle Tallgrass Executive Vice President and Chief Financial Officer.

Before turning the call over to David, let me remind you that this call is being recorded and a replay will be available for a limited time on our website. Additionally, our comments today will include forward looking statements and estimates. Before looking comments are subject to various risks and uncertainties and reflect management's views as of August 3 2016. Please refer to our filings at the SEC which are available on our website, including our 10-K which provide discussions of factors that may cause actual results for management, projections, forecasts, estimates and expectations know that except to the extent required by law. Tallgrass takes no obligation update any forward looking statements.

Please also referred our earnings release for reconciliations between the non-GAAP financial measures referenced in this presentation, and the most comparable financial measures calculated and presented in accordance with GAAP. With that, let me now turn the call over to David for his opening remarks.

David Dehaemers

Good afternoon, everybody. And thank you for joining the Tallgrass energy second quarter earnings call. I have to tell you, I always look forward to these calls because it's kind of a one time each quarter where we get to talk to everybody at once and kind of have the table. And, today we've got a number of things to go through not only our performance, but some other matters to talk to some a little lighter some a little bit more meaningful and serious.

And I guess before I kind of dive into what we did this quarter, I would like to just kind of step back and talk about a few things that seems to me sometimes this in the energy, midstream energy business, as well as the MLP world, people forget about these things. And that is simply this that MLP really are not simply this unique annual that's out there. Frankly, MLP are just like any other company and a company that's publicly traded, like ours, or any MLP would actually be a corporation where it not for the fact that the Internal Revenue Code gives it the ability to be taxed as a partnership.

And so that's the only difference. Probably one of the things that makes MLP unique that I think people forget about is these partnerships are structured so that these MLP with long lived assets are