Net income was $24.1 million, or $0.89 per limited partner unit, for the nine months ended September 30, 2007, compared to net income of $46.3 million, or $1.32 per limited partner unit, for the first nine months of 2006.
Distributable cash flow of $17.3 million was reported in Q3 2007, compared to $16.9 million in the third quarter of 2006. Distributable cash flow was $61.6 million for the nine months ended September 30, 2007, as compared to $50.3 million for the first nine months of 2006.
Mark Borer, president and CEO, said: During the third quarter, we closed on both the $270 million drop-down acquisition from DCP Midstream, the owner of our general partner, of equity interests in east Texas and Discovery, as well as the $165 million acquisition of certain subsidiaries of Momentum Energy Group in a transaction with DCP Midstream. We’re focused on the continued growth of these assets along with those in our base business.
EBITDA increased by $3.6 million to $22.3 million for the third quarter of 2007, from $18.7 million for the same period of 2006. EBITDA decreased by $6.6 million to $52.7 million for the first nine months of 2007, from $59.3 million for the same period of 2006.
