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May 28, 2015 10:49 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Gulf South Pipeline Company, LP

Company Overview

Gulf South Pipeline Company, LP, an interstate natural gas transmission company, owns and operates an integrated natural gas pipeline and storage system located along the Gulf Coast in the states of Texas, Louisiana, Mississippi, Alabama, and Florida. Its pipeline system consists of approximately 7,400 miles of interconnected pipelines and 10 natural gas storage facilities. The company also owns and operates eight salt dome natural gas storage caverns in Forrest County, Mississippi. It serves various customers, including producers of natural gas, local distribution companies, marketers, electric power generators, industrial users, and interstate and intrastate pipelines. The company is headq...

9 Greenway Plaza

Suite 2800

Houston, TX 77046

United States

600 Employees

Phone:

866-913-2122

Key Executives for Gulf South Pipeline Company, LP

Chief Executive Officer, President and Director
Age: 64
Chief Financial & Administrative Officer, Senior Vice President and Treasurer
Age: 49
Chief Accounting Officer, Senior Vice President and Controller
Age: 49
Senior Vice President of Regulatory Affairs & Media Contact
General Counsel and Director
Age: 58
Compensation as of Fiscal Year 2014.

Gulf South Pipeline Company, LP Key Developments

Boardwalk Pipeline Partners, LP, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC Announces Amendments to Third Amended and Restated Revolving Credit Agreement

Boardwalk Pipeline Partners, LP and certain of its wholly-owned subsidiaries entered into a Third Amended and Restated Revolving Credit Agreement among the Partnership, as guarantor, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC, as borrowers (the "Borrowers"), and the several lenders and issuers party thereto, Wells Fargo Bank, N.A., as administrative agent, Citibank, N.A. and JPMorgan Chase Bank, N.A., as co-syndication agents and the other agents identified therein. Under the Amended Credit Agreement, the Lenders will provide the Borrowers certain revolving loans, swingline loans and letters of credit to be used for general partnership purposes, including repayment of indebtedness, acquisitions, capital expenditures and payment of distributions, in an aggregate amount of up to $1.5 billion. Each Borrower is subject to a separate sublimit for borrowings under this facility. The Partnership has guaranteed the obligations of the Borrowers under the Amended Credit Agreement. Maturity. The Amended Credit Agreement has a maturity date of May 26, 2020. Prepayments. The Borrowers are allowed to prepay all loans under the credit facility at any time without premium or penalty (other than customary breakage costs). Interest. Interest is determined, at the Partnership's election, by reference to the base rate which is the prime rate, the federal funds rate plus 0.50%, and the one month Eurodollar Rate plus 1.0%, plus an applicable margin, or the London Interbank Offered Rate plus an applicable margin. The applicable margin ranges from 0.00% to 0.75% per annum for loans bearing interest based on the base rate and ranges from 1.00% to 1.75% per annum for loans bearing interest based on the LIBOR Rate, in each case determined based on the individual Borrower's credit rating from time to time. The Amended Credit Agreement also provides for a quarterly commitment fee charged on the average daily unused amount of the revolving credit facility ranging from 0.1% to 0.275% per annum, determined based on the individual Borrower's credit rating from time to time. Conditions. The Borrowers' ability to borrow amounts under the revolving credit facility will be subject to the execution of customary documentation relating to the facility, including satisfaction of certain customary conditions precedent and compliance with terms and conditions included in the loan documents, including a post-closing obligation which requires the Partnership to repay its borrowings under its existing term loan of $175.0 million and terminate all related commitments.

Federal Energy Regulatory Commission Issues Order to Gulf South Pipeline Company, LP on Negotiated Rate Capacity Release Agreement

On June 3, 2013, Gulf South Pipeline Company, LP filed a tariff record to reflect the essential elements of a negotiated rate capacity release agreement between Gulf South and BP Energy Company, the replacement shipper. The original agreement with Questar Exploration and Production Company, now known as QEP Energy Company was accepted by unpublished Director's letter order issued April 22, 2010, in Docket No. RP10-512-000. The capacity release agreement has a one-month term from June 1, 2013 to June 30, 2013, for service under Rate Schedule FTS. Gulf South states that the capacity release agreement continues the terms and conditions of the original agreement for the replacement shipper, and therefore provides the same economic benefit to Gulf South. Gulf South requests the tariff record be permitted to become effective June 1, 2013.

Federal Energy Regulatory Commission Issues Order to Gulf South Pipeline Company, LP on Amended Negotiated Rate Letter Agreement

On May 8, 2013, Gulf South Pipeline Company, LP (Gulf South) filed tariff records to reflect the components of two amendments to a negotiated rate agreement with Florida Power & Light Company. Gulf South requests the Commission accept the tariff records effective April 1, 2013. Public notice of the filing was issued on May 10, 2013. Interventions and protests were due as provided in section 154.210 of the Commission's regulations (18 C.F.R. section 154.210 (2012)). Pursuant to Rule 214 (18 C.F.R. section 385.214 (2012)), all timely filed motions to intervene and any unopposed motion to intervene out-of-time filed before the issuance date of this order are granted. Granting late intervention at this stage of the proceeding will not disrupt the proceeding or place additional burdens on existing parties. No protests or adverse comments were filed. This acceptance for filing shall not be construed as a waiver of the requirements of section 7 of the Natural Gas Act, as amended; nor shall it be construed as constituting approval of the referenced filing or of any rate, charge, classification, or any rule, regulation, or practice affecting such rate or service contained in tariff; nor shall such acceptance be deemed as recognition of any claimed contractual right or obligation associated therewith; and such acceptance is without prejudice to any findings or orders which have been or may hereafter be made by the Commission in any proceeding now pending or hereafter instituted by or against company.

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