FINANCIAL DISCIPLINE NATURAL GAS MIDSTREAM COAL AND NATURAL by po2378

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									PVR ’ S C O A L A N D N AT URA L RE S O URC E MA N A GE M E NT & M I D STR E A M LOCATI ON S

1. Central Appalachia Coal reserves and infrastructure, timber, oil and gas royalties
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7. Crossroads Gas processing plant and gathering system 8. North Texas Gas Gathering Gas gathering and pipeline systems 9. Hamlin Gas processing plant and gathering system 10. Arkoma Gas gathering systems 11. Thunder Creek Gas gathering and pipeline systems

2. Illinois Basin Coal reserves and infrastructure
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3. Northern Appalachia Coal reserves 4. San Juan Basin Coal reserves

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5. Panhandle Gas processing plants and gathering systems 6. Crescent Gas processing plant and gathering systems

COAL AND NATURAL RESOURCE MANAGEMENT

NATURAL GAS MIDSTREAM

FINANCIAL DISCIPLINE

PVR Coal and Natural Resource Management oversees our coal and natural resource properties, provides fee-based coal preparation and loading services, sells timber, collects oil and gas royalties, and collects wheelage fees from the transportation of coal. In recent years, PVR acquired coal reserves in multiple basins, expanded its coal services and infrastructure business and has added other PTP-friendly natural resource assets, such as timber and natural gas royalties.

PVR Midstream provides natural gas processing, gathering and other related services at seven primary locations in Texas, Oklahoma and Wyoming. PVR Midstream has experienced strong growth in system throughput volumes since its inception over three years ago, via acquisitions as well as organic growth, which includes the expansion of existing systems via new well connections and processing plants. PVR Midstream’s cash flow is derived primarily from both market-sensitive and, increasingly, fee-based services.

Since its inception, PVR has maintained or grown its distributions at a rate competitive with comparable PTPs only after reviewing its distributable cash flow and capital needed for reinvestment to sustain long-term growth. PVR has funded its growth through a combination of debt and new unit issuances. PVR seeks growth opportunities that provide increases in sustainable distributable cash flow at attractive rates of return for unitholders, together with stable cash flows and the potential for additional organic growth.


								
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