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HLND » Topics » CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This excerpt taken from the HLND DEFA14A filed Nov 9, 2009.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
 
This proxy supplement, including information set forth or incorporated by reference in this document, contains statements that constitute forward-looking information, including disclosures relating to the mergers, projected financial information, valuation information, possible outcomes from strategic alternatives other than the mergers, the expected amounts, timing and availability of financing, availability under credit facilities, levels of capital expenditures, sources of funds, and funding requirements, among others. You are cautioned that such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties and that actual results or developments may differ materially from the forward-looking statements as a result of various factors. Factors that may cause such differences to occur include, but are not limited to:
 
  •  with respect to the mergers: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreements or the failure of required conditions to close the mergers; (2) the outcome of any legal proceedings that have been or may be instituted against Hiland Partners and/or Hiland Holdings and others; (3) the inability to obtain unitholder approval or the failure to satisfy other conditions to completion of the mergers, including the receipt of certain regulatory approvals; (4) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the mergers; (5) the performance of Parent, Merger Subs and the Hamm Continuing Investors and (6) the amount of the costs, fees, expenses and charges related to the mergers;
 
  •  any of the assumptions underlying the Hiland Companies’ projected financial information proving to be inaccurate;
 
  •  the ability of the Hiland Companies to comply with certain covenants in their respective credit facilities, including under the Hiland Operating Credit Agreement;
 
  •  the ability of the Hiland Companies to pay distributions to their respective unitholders;
 
  •  Hiland Partners’ cash flow is affected by the volatility of natural gas and NGL product prices, which could adversely affect Hiland Partners’ ability to make distributions to its unitholders, including Hiland Holdings;
 
  •  Hiland Holdings’ expected receipt of distributions from Hiland Partners;
 
  •  Hiland Partners’ continued ability to find and contract for new sources of natural gas supply;
 
  •  the general economic conditions in the United States of America as well as the general economic conditions and currencies in foreign countries;
 
  •  the amount of natural gas gathered on Hiland Partners’ gathering systems and the associated level of throughput in Hiland Partners’ natural gas processing and treating facilities, given the recent reduction in drilling activity in our areas of operations;
 
  •  the fees Hiland Partners charges and the margins realized for its services;
 
  •  the prices and market demand for, and the relationship between, the prices of natural gas and NGLs;
 
  •  energy prices generally;
 
  •  the level of domestic crude oil and natural gas production;
 
  •  the availability of imported crude oil and natural gas;
 
  •  actions taken by foreign crude oil and natural gas producing nations;
 
  •  the political and economic stability of petroleum producing nations;
 
  •  the weather in Hiland Partners’ operating areas;
 
  •  the extent of governmental regulation and taxation;


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  •  hazards or operating risks incidental to the gathering, treating and processing of natural gas and NGLs that may not be fully covered by insurance;
 
  •  competition from other midstream companies;
 
  •  loss of key personnel;
 
  •  the availability and cost of capital and Hiland Partners’ ability to access certain capital sources;
 
  •  margin call risk with counterparties on our derivative instruments;
 
  •  changes in laws and regulations to which Hiland Holdings and Hiland Partners are subject, including tax, environmental, transportation and employment regulations;
 
  •  the costs and effects of legal and administrative proceedings;
 
  •  the ability to successfully identify and consummate strategic acquisitions at purchase prices that are accretive to the Hiland Partners’ financial results; and
 
  •  risks associated with the construction of new pipelines and treating and processing facilities or additions to Hiland Companies’ existing pipelines and facilities;
 
  •  the completion of significant, unbudgeted expansion projects may require debt and/or equity financing which may not be available to Hiland Partners on acceptable terms, or at all;
 
  •  increases in interest rates could increase Hiland Partners’ borrowing costs, adversely impact its unit price and its ability to issue additional equity, which could have an adverse effect on Hiland Partners’ cash flows and its ability to fund its growth; and
 
  •  the other factors described in each of the Hiland Companies’ Form 10-K for the fiscal year ended December 31, 2008, including under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein.
 
The Hiland Companies disclaim any obligation to update or revise the forward-looking statements contained herein, except as otherwise required by applicable federal securities laws. A Schedule 13E-3 filed with the SEC with respect to each of the proposed mergers will be amended to report any material changes in the information set forth in the most recent Schedule 13E-3 filed with the SEC by either Hiland Partners or Hiland Holdings.


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