REGENCY ENERGY FINANCE CORP.

BYLAWS

Table of Contents

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ARTICLE I OFFICES
Section 1.01		Registered Office			1
Section 1.02		Other Offices			1
ARTICLE II STOCKHOLDERS
Section 2.01		Place of Meetings			1
Section 2.02		Quorum; Adjournment of Meetings			1
Section 2.03		Annual Meetings			2
Section 2.04		Special Meetings			2
Section 2.05		Record Date			2
Section 2.06		Notice of Meetings			3
Section 2.07		Stock List			3
Section 2.08		Proxies			3
Section 2.09		Voting; Elections; Inspectors			3
Section 2.10		Order of Business			4
Section 2.11		Treasury Stock			4
Section 2.12		Action Without Meeting			4
ARTICLE III BOARD OF DIRECTORS
Section 3.01		Power; Number; Term of Office			5
Section 3.02		Quorum			5
Section 3.03		Place of Meetings; Order of Business			5
Section 3.04		First Meeting			5
Section 3.05		Regular Meetings			5
Section 3.06		Special Meetings			5
Section 3.07		Removal			6
Section 3.08		Vacancies; Increases in the Number of Directors			6
Section 3.09		Compensation			6
Section 3.10		Action Without a Meeting; Telephone Conference Meeting			6
Section 3.11		Approval or Ratification of Acts or Contracts by Stockholders			7

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ARTICLE IV COMMITTEES
Section 4.01		Designation; Powers			7
Section 4.02		Procedure; Meetings; Quorum			7
Section 4.03		Substitution of Members			8
ARTICLE V OFFICERS
Section 5.01		Number, Titles and Term of Office			8
Section 5.02		Salaries			8
Section 5.03		Removal			8
Section 5.04		Vacancies			8
Section 5.05		Powers and Duties of the Chief Executive Officer			8
Section 5.06		Powers and Duties of the Chairman of the Board			9
Section 5.07		Powers and Duties of the President			9
Section 5.08		Vice Presidents			9
Section 5.09		Treasurer			9
Section 5.10		Assistant Treasurers			9
Section 5.11		Secretary			9
Section 5.12		Assistant Secretaries			10
Section 5.13		Action with Respect to Securities of Other Corporations			10
ARTICLE VI INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS
Section 6.01		Right to Indemnification			10
Section 6.02		Indemnification of Employees and Agents			11
Section 6.03		Right of Claimant to Bring Suit			11
Section 6.04		Nonexclusivity of Rights			11
Section 6.05		Insurance			11
Section 6.06		Savings Clause			12
Section 6.07		Definitions			12
ARTICLE VII CAPITAL STOCK
Section 7.01		Certificates of Stock			12
Section 7.02		Transfer of Shares			13
Section 7.03		Ownership of Shares			13
Section 7.04		Regulations Regarding Certificates			13
Section 7.05		Lost or Destroyed Certificates			13
ARTICLE VIII MISCELLANEOUS PROVISIONS
Section 8.01		Fiscal Year			13
Section 8.02		Notice and Waiver of Notice			13

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Section 8.03		Resignations			14
Section 8.04		Facsimile Signatures			14
Section 8.05		Reliance upon Books, Reports and Records			14
ARTICLE IX AMENDMENTS

BYLAWS

OF

REGENCY ENERGY FINANCE CORP.

ARTICLE I
OFFICES

     Section 1.01 Registered Office. The registered office of the Corporation required by the General Corporation Law of the State of Delaware to be maintained in the State of Delaware, shall be the registered office named in the original Certificate of Incorporation of the Corporation, or such other office as may be designated from time to time by the Board of Directors in the manner provided by law. Should the Corporation maintain a principal office within the State of Delaware such registered office need not be identical to such principal office of the Corporation.