Tallgrass Energy, LP (NASDAQ:TGE) Q2 2019 Earnings Conference Call - Final Transcript
Jul 25, 2019 • 03:30 pm ET
Thank you. [Operator Instructions] We will go first to Ethan Bellamy at Robert W. Baird.
Hey, guys. Dave, could you talk about the commercial landscape at least for the number of competing projects in terms of barrels on a North Dakota, any color you have there will be helpful?
David G. Dehaemers
Yes, I mean, you are talking competing projects being what the Liberty announcement as well as maybe an expansion on DAPL?
David G. Dehaemers
Yes. I think the question everybody has to ask themselves, and I'm not in a position to talk about either of those pipelines or expansions other than just the whole market up there. The Bakken has kind of recovered and it's kind of made some new highs, but I think the question in my mind that everybody needs to be asking themselves long-term is, at $50 to $60 oil is the Bakken going to become that 2 million barrel a day plus market that probably it needs to be to support everything that's being talked about that is not yet built. I don't know the answer to that. I think we've seen that while crude prices are definitely more healthy than they were say three years ago, I'm not convinced myself that it's going to stay at that $50 to $60 level which I hope it does. But I'm not sure that that will support that kind of growth that is going to come of there. Do you want to add anything, Bill?
William R. Moler
No I think that's accurate. I feel like we continue to be advantaged as the incumbent, pipe in the ground and our expansions that are underway now getting us to 420,000 barrels a day or north of that after we speed test. I feel like we're sitting in the catbird seat.
Okay. That's helpful. And Gary, any material changes we should expect to see on the balance sheet or the other financial items that were disclosed today?
Gary J. Brauchle
No, Ethan, I mean, just so you understand, we had a couple of calendar conflicts and needed to advance our Board meeting and audit committee meetings yesterday and today, which is typically or is the ahead of our typical schedule and so that's the only reason we are not releasing the 10-Q today. You'll get all that data as you always do only next week. And so I think that the major indicators, the operational indicators of the financial performance I kind of went through in my prepared remarks, but if there's anything else you need in the short term just let us know.
Okay. Thank you very much.
[Operator Instructions] And moving next to Colton Bean at Tudor, Pickering, Holt.
Good afternoon. So just to follow-up on my question around incremental expense in the Rockies. So you all mentioned your incumbent position there, how do you evaluate the game there and then secondly you do have an incumbent position over the next 18 months, but then as we get to the late 2020, early '21 presumably there is