Question-and-Answer Session
Operator
Thank you very much. (Operator Instructions). Your first question comes from the line of David Fleischer with Chickasaw Capital Management. Please proceed.
David Fleischer - Chickasaw Capital Management
You certainly gave us the details Joe and out of the difficult commodity markets earlier this year that said it is impressive that you’ve had a 24% gain in NGL volumes and also 10% gain in gas lines this year, given the economic environment that you have pointed to. You have also made it through a very difficult year, where all these commodity prices have been very weak and impressively you’ve not violated your debt covenants even as of September 30 so this is a better outcome than at several other or more than several other gathering and processing companies I would say.
Now we are seeing commodity prices moving up and moving up more than modestly accrued on the forward curve for next year trade in excess of $80 NGLs are now at $1 rising. And then the forward market one can lock in right now its in very decent margins which is what actually many are doing it really appears that you are on the verge other commodity sense of coverage your are on the verge of some excellent results in future periods, one could argue about that but that but that would be what I would propose and you indicate in your 8-K that you have discussions going with lenders just as others have renegotiated terms of their loan agreements my question for you now all this said is why isn’t there a very real course of action for you why can’t a deal that you said was not available to you back in the spring given where you were then why isn’t the deal available to be worked out with the banks just as a number of other companies would problems equal to or greater than yours have worked them out? I would also suggest that you say you don’t have a good access to capital you talk about the need for capital possible needs for capital, I would suggest that the sale of ones are right to existing shareholders who believe in your future would be a good way to bolster capital and allow existing unit holders who have suffered so much to benefit from the rebound in the markets that appears very much underway. So, I’d just love to hear your comments about why going to the banks and working the deal when they see the future when you [lot] in good numbers isn’t a very good and perhaps best path of action for existing unit holders?
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