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February 07, 2016 11:27 PM ET

Oil, Gas and Consumable Fuels

Company Overview of TransCanada PipeLines Limited

Company Overview

TransCanada PipeLines Limited operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Liquids Pipelines, and Energy. The Natural Gas Pipelines segment transports natural gas to local distribution companies, power generation facilities, and other businesses in Canada, the United States, and Mexico. This segment operates 57,000 kilometers of wholly owned natural gas pipelines and 11,000 kilometers of partially owned natural gas pipelines; and regulated natural gas storage facilities with a total capacity of approximately 250 billion cubic feet (Bcf) in Michigan. The Liquids Pipelines segment owns and operates crude oil pipel...

450 – 1st Street SW

Calgary, AB T2P 5H1

Canada

Founded in 2003

Phone:

403-920-2000

Fax:

403-920-2200

Key Executives for TransCanada PipeLines Limited

Chief Executive Officer, President and Director
Age: 52
Chief Financial Officer and Executive Vice President
Age: 52
Executive Vice-President of Operations & Engineering
Age: 53
Executive Vice President and President of Natural Gas Pipe Lines
Age: 54
Executive Vice President and President of Liquids Pipelines
Age: 56
Compensation as of Fiscal Year 2015.

TransCanada PipeLines Limited Key Developments

TransCanada PipeLines Limited Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Re-Affirms Earnings Guidance for the Year 2015

TRANSCANADA PIPELINES reported consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenues of CAD 2,944 million compared with CAD 2,451 million for the same period last year. Income before income taxes was CAD 694 million compared with CAD 745 million for the same period last year. Net income attributable to common shares was CAD 424 million compared with CAD 481 million for the same period last year. Net cash provided by operations was CAD 1,249 million compared with CAD 1,228 million for the same period last year. Capital expenditures were CAD 976 million compared with CAD 744 million for the same period last year. EBITDA was CAD 1,483 million compared with CAD 1,387 million for the same period last year. Funds generated from operations were CAD 1,139 million compared with CAD 1,071 million for the same period last year. For the nine months, the company reported revenues of CAD 8,449 million compared with CAD 7,569 million for the same period last year. Income before income taxes was CAD 2,116 million compared with CAD 2,090 million for the same period last year. Net income attributable to common shares was CAD 1,290 million compared with CAD 1,356 million for the same period last year. Net cash provided by operations was CAD 2,978 million compared with CAD 3,327 million for the same period last year. Capital expenditures were CAD 2,748 million compared with CAD 2,381 million for the same period last year. EBITDA was CAD 4,381 million compared with CAD 4,000 million for the same period last year. Funds generated from operations were CAD 3,355 million compared with CAD 3,088 million for the same period last year. The earnings outlook for 2015 is expected to be consistent with what was previously included in the 2014 annual report. The company expects its capital expenditures to be approximately CAD 5 billion for 2015 a decrease of CAD 1 billion from the outlook previously provided in its 2014 annual report due to project timing delays.

Eastern Local Distribution Companies and TransCanada Pipelines Resolve Energy East Natural Gas Supply Concerns

Local distribution companies Gaz Métro, Union Gas and Enbridge Gas Distribution (Enbridge Gas) announced that they have reached an Agreement in Principle with TransCanada PipeLines Limited (TransCanada) that would protect natural gas supply for Québec and Ontario natural gas customers. TransCanada's Energy East oil pipeline project proposes the conversion of an existing natural gas pipeline to oil service. The Agreement in Principle resolves concerns raised by the three local distribution companies (LDCs) and in public consultation and review conducted by the Ontario and Québec governments. The Agreement ensures the firm transportation capacity required for gas supply to Ontario and Québec and, if the Energy East project goes forward, the Agreement provides a benefit of approximately $100 million to natural gas customers through 2050. The Agreement also ensures that natural gas customers will not subsidize the oil project; rather, the construction and development cost risks for Energy East will be borne by the project's proponents.

TransCanada PipeLines Limited Report Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

TransCanada PipeLines Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue $2,631 million compared to $2,234 million a year ago. Comparable EBITDA was $125 million compared to $116 million a year ago. Net income attributable to common shares was $454 million compared to $443 million a year ago. Comparable earnings were $422 million compared to $359 million a year ago. Net cash provided by operations was $967 million compared to $1,127 million a year ago. Capital expenditures were $966 million compared to $893 million a year ago. Comparable EBIT was $79 million compared to $71 million a year ago. Funds generated from operations were $1,061 million compared to $919 million a year ago. EBITDA was $1,434 million against $1,279 million a year ago. For the six months period, the company reported revenue $5,505 million compared to $5,118 million a year ago. Comparable EBITDA was $271 million compared to $281 million a year ago. Net income attributable to common shares was $866 million compared to $875 million a year ago. Comparable earnings were $912 million compared to $801 million a year ago. Funds generated from operations were $2,216 million compared to $2,017 million a year ago. Net cash provided by operations was $1,729 million compared to $2,099 million a year ago. Capital expenditures were $1,772 million compared to $1,637 million a year ago. Comparable EBIT was $177 million compared to $192 million a year ago. EBITDA was $2,876 million against $2,664 million a year ago.

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