Copano Energy, L.L.C. (NASDAQ: CPNO) announced today that repairs to its
Houston Central cryogenic processing facility, which were discussed on
Copano's earnings conference call held February 29, 2012, have been
completed. The newly upgraded plant began producing NGLs that meet
downstream specifications on March 13, 2012 and is currently processing
approximately 200 million cubic feet per day of rich natural gas. Copano
anticipates no change to the original project cost of $21 million.
Copano does not expect that the March 13th startup will have a material
impact on the first-quarter Texas segment gross margin and distributable
cash flow guidance provided during the February 29th conference call.
About Copano Energy, L.L.C.
Copano Energy, L.L.C. (NASDAQ: CPNO) is a midstream natural gas company
with operations in Texas, Oklahoma, Wyoming and Louisiana. Its assets
include approximately 6,700 miles of active natural gas gathering and
transmission pipelines, 370 miles of NGL pipelines and 10 natural gas
processing plants, with more than 1 billion cubic feet per day of
combined processing capacity and 44,000 barrels per day of fractionation
capacity. More information is available at http://www.copano.com.
This press release includes "forward-looking statements," as defined
by the Securities and Exchange Commission. Statements that
address activities or events that Copano believes will or may occur in
the future are forward-looking statements. These statements
include, but are not limited to, statements about future producer
activity and Copano's total distributable cash flow and
distribution coverage. These statements are based on management's
experience and perception of historical trends, current
conditions, expected future developments and other factors management
believes are reasonable. Important factors that could cause
actual results to differ materially from those in the forward-looking
statements include the following risks and uncertainties, many of
which are beyond Copano's control: the volatility of prices and market
demand for natural gas and natural gas liquids; Copano's ability
to continue to obtain new sources of natural gas supply and retain its
key customers; the impact on volumes and resulting cash flow of
technological, economic and other uncertainties inherent in estimating
future production, producers' ability to drill and successfully
complete and attach new natural gas supplies and the availability of downstream
transportation systems and other facilities for natural gas and NGLs;
mechanical failures and other operational risks affecting the
performance of Copano's processing plants and other facilities, higher
construction costs or project delays due to inflation, limited
availability of required resources, or the effects of environmental,
legal or other uncertainties; general economic conditions; the
effects of government regulations and policies; and other financial,
operational and legal risks and uncertainties detailed from time
to time in Copano's quarterly and annual reports filed with the
Securities and Exchange Commission.
CPNO-IR
