A company by another name can be as profitable—at least if the entity formerly known as Chesapeake Midstream Partners LP is any indication.

Having recently changed its name to Access Midstream Partners LP, the company has reported its second-quarter results for 2012, and says its net income totaled $51.6 million, an increase of $10.5 million, or 25.5% from its 2011 second-quarter results. The company's EBITDA for second quarter was $120.9 million, up $41.6 million year-over-year.

"While the partnership's name and ownership structure have changed, our commitment to executing on our best-in-class business model while maintaining a conservative balance sheet and investment grade credit metrics remains unchanged," said J. Mike Stice, Access' chief executive, in a public statement.

"The strong operating and financial results in the 2012 second quarter are further evidence of the partnership's ability to produce consistent results for our investors. This quarter continued to show the strong organic growth within our existing footprint. This sustained exposure to the most prolific unconventional plays in North America will be an important competitive advantage for many years to come."

The partnership's distributable cash flow for the 2012 second quarter also increased year-over-year by $29.4 million, to $87.3 million, according to the company. As well, partnership revenue for second quarter 2012 increased $16.1 million year-over-year to $149.3 million.

Access' production of natural gas during second quarter increased 33.5% year-over-year, having recently reached 261 billion cubic feet (Bcf). The company attributes the increase to "throughput from gas gathering systems in the Marcellus Shale acquired in December 2011 as well as increased throughput in the Barnett Shale."

Access connected 179 new wells to its gathering systems during second quarter 2012, up 25.2% from 2011's second quarter.

The company's capital expenditures for this year's second quarter came to $154.2 million, which includes $18.5 million in maintenance costs.

Meantime, the partnership increased its cash distribution for second quarter 2012 to $0.42 per unit. That's a nearly 16% increase over second quarter 2011. The distribution was paid August 14.

Access' production of natural gas during second quarter increased 33.5% year-over-year, having recently reached 261 billion cubic feet (Bcf). The company attributes the increase to "throughput from gas gathering systems in the Marcellus Shale acquired in December 2011 as well as increased throughput in the Barnett Shale."

Access connected 179 new wells to its gathering systems during second quarter 2012, up 25.2% from 2011's second quarter.

The company's capital expenditures for this year's second quarter came to $154.2 million, which includes $18.5 million in maintenance costs.

The company's name was changed to Access after Global Infrastructure Partners (GIP) purchased Chesapeake Energy Corp.'s ownership share in the master limited partnership at the end of June. The company now trades on the New York Stock Exchange under the ticker ACMP.

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