Tallgrass Energy, LP (NASDAQ:TGE) Q3 2017 Earnings Conference Call - Final Transcript
Nov 02, 2017 • 04:30 pm ET
Good day, and welcome to the Tallgrass Energy Quarterly Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Treasurer, Mr. Nate Lien. Please go ahead, sir.
Thank you, Brian. Good afternoon, and thank you for joining the Tallgrass Energy quarterly earnings call as we discuss TEP and TEP GP results from the third quarter of 2017 as well as our recent commercial developments, all of which were released through our joint press release and 10--Qs this afternoon. Joining me on the call this afternoon are David Dehaemers, President and Chief Executive Officer, Bill Moler, Executive Vice President and Chief Operating Officer and Gary Brauchle, Executive Vice President and Chief Financial Officer.
Before turning the call over to David, let me remind you that this event 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. These forward--looking comments are subject to various risks and uncertainties and reflect management's views as of November 2, 2017.
Please refer to our filings with the SEC, which are available on our Website, including our 10-Ks and 10-Qs, which provide discussions of factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations. Note that except to the extent required by law, Tallgrass undertakes no obligation to update any forward-looking statements.
Please also refer to our earnings release for reconciliations between the non--GAAP financial measures referenced in this presentation and the most comparable financial measure or measures calculated and presented in accordance with GAAP.
With that, let me now turn the call over to David for his opening remarks.
Good afternoon everybody and thanks to everyone for joining the Tallgrass Energy Third Quarter Earnings call. I'll apologize in advance if I have a little bit of a coughing fit. I have what my wife fondly calls a man cold. Anyway, thank you for joining. As many of you saw in our earnings release, the third quarter was a standout and record quarter for TEP with continued strong performance in our operating segments and increased earnings and distributions from REX. Some with which is a result of the receipt of the settlement payment from Ultra, more to come on that. All of this contributed to TEP's 17th consecutive quarterly distribution increase.
And I think everybody probably on the Webcast has a sheet that I hope is up on your screens. So the screen that everybody sees there it's our fifth anniversary here on November 13 from when we bought the assets which are now mostly Tallgrass today, so that was back in November of 2013, sorry, November of 2012. So we're running into our fifth anniversary and we've put that up on everybody's screens just to keep in front of you all of the things that we've accomplished which we think is a lot and a lot of which we're proud of over the last five