Duncan Energy Partners L.P. today announced its financial results for the three and eight months ended September 30, 2007. The eight-month period ended September 30, 2007 reflects operations since the completion of the initial public offering (“IPO”) of Duncan Energy Partners on February 5, 2007. For financial reporting purposes, the effective date of the IPO was February 1, 2007. The partnership reported net income of $4.5 million for the third quarter of 2007, or $0.22 per common unit on a fully diluted basis.
Results of operations following the completion of the IPO are reported separately from those of the predecessor of Duncan Energy Partners (“Duncan Energy Partners Predecessor”). There are a number of agreements and other items that went into effect at the time of Duncan Energy Partners’ IPO that affect the comparability of its operating results with the historical operating results of Duncan Energy Partners Predecessor. See “Basis of Presentation of Financial Information” within this release for a summary of these differences.
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