Copano Energy LLC (CPNO)

Copano Energy, L.L.C. provides midstream services to natural gas producers, including natural gas gathering, compression, dehydration, treating, transportation, processing, conditioning and fractionation. It owns and operates natural gas gathering and intrastate transmission pipeline assets, and natural gas processing facilities in central and eastern Oklahoma, Texas, Wyoming, and Louisiana. As of December 31, 2008, the company operated approximately 6,200 miles of natural gas gathering and transmission pipelines, as well as 7 natural gas processing plants, with approximately 1 billion cubic feet per day of combined processing capacity. It also operated 200 miles of natural gas liquid pipelines and 59-mile crude oil pipeline. The company also holds a 37% stake in Fort Union Gas Gathering LLC, which operates natural gas pipelines in Wyoming's Powder River Basin, and a 51% stake in Bighorn Gas Gathering LLC, which includes natural gas gathering pipelines and transports gas into the Fort Union system. It serves third-party pipelines, processing plants, distribution companies, power generation facilities, and industrial consumers. Copano Energy was founded in 2001 and is based in Houston, Texas.

For the nine months ended 30 September 2006, Copano Energy, L.L.C.'s revenues increased 45% to $654.9M. Net income totaled $48.6M, up from $16.1M. Revenues reflect an increase in sales of natural gas, higher natural gas liquids sales and increased transportation, compression and processing fees. Net income also reflects higher gross margin due to increased volumes, lower transportation for affiliates and higher interest income.