June 28, 2017 1:35 PM ET

Gas Utilities

Company Overview of Questar Gas Company

Company Overview

Questar Gas Company distributes natural gas to residential and commercial customers in Utah, southwestern Wyoming, and southeastern Idaho. The company owns and operates distribution systems; and has approximately 29,200 miles of street mains, service lines, and interconnecting pipelines. As of December 31, 2015, it served approximately 1.0 million sales and transportation customers. The company is based in Salt Lake City, Utah. Questar Gas Company is a subsidiary of Dominion Questar Corporation.

333 South State Street

Salt Lake City, UT 84145

United States

900 Employees

Phone:

801-324-5000

Key Executives for Questar Gas Company

Chairman and Chief Executive Officer
Age: 62
Chief Financial Officer, Executive Vice President and Director
Age: 58
Chief Accounting Officer, Vice President and Controller
Age: 48
Senior Vice President of Mergers & Acquisitions and Treasurer
General Manager of State Regulatory Affairs
Compensation as of Fiscal Year 2016.

Questar Gas Company Key Developments

Dominion Resources, Inc., Virginia Electric and Power Company, Dominion Gas Holdings, LLC and Questar Gas Company Enter into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement

On November 10, 2016, Dominion Resources, Inc. (Dominion), and its wholly-owned subsidiaries, Virginia Electric and Power Company (Virginia Power), Dominion Gas Holdings, LLC (Dominion Gas) and Questar Gas Company (Questar Gas), entered into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement (Core Credit Facility) with JPMorgan Chase Bank, N.A., as Administrative Agent, Mizuho Bank Ltd., Bank of America, N.A., Barclays Bank PLC and Wells Fargo Bank, N.A., as Syndication Agents, and other lenders named therein. Also on November 10, 2016, Dominion, Virginia Power, Dominion Gas and Questar Gas, entered into a $500,000,000 Second Amended and Restated Revolving Credit Agreement (LOC Facility and, together with the Core Credit Facility, the Amended and Restated Credit Facilities) with Keybank National Association, as Administrative Agent, U.S. Bank National Association, as Syndication Agent, and other lenders named therein. The purpose of the Amended and Restated Credit Facilities, which amend and restate their respective predecessor agreements in their entirety, is to add Questar Gas, which became a subsidiary of Dominion in September 2016, as a borrower and to make certain administrative and related changes prompted by the addition of Questar Gas as a borrower. The Amended and Restated Credit Facilities can be used by Dominion and the co-borrowers to support bank borrowings and the issuance of commercial paper, as well as to support the issuance of letters of credit.

Questar Gas Company, Dominion Resources and its Wholly-Owned Subsidiaries Enter into Amended and Restated Credit Facilities

On November 10, 2016, Dominion Resources, Inc. and its wholly-owned subsidiaries, Virginia Electric and Power Company (Virginia Power), Dominion Gas Holdings, LLC (Dominion Gas) and Questar Gas Company (Questar Gas), entered into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement (Core Credit Facility) with JPMorgan Chase Bank, N.A., as Administrative Agent, Mizuho Bank Ltd., Bank of America, N.A., Barclays Bank PLC and Wells Fargo Bank, N.A., as Syndication Agents, and other lenders named therein. Also on November 10, 2016, Dominion, Virginia Power, Dominion Gas and Questar Gas, entered into a $500,000,000 Second Amended and Restated Revolving Credit Agreement (LOC Facility and, together with the Core Credit Facility) with Keybank National Association, as Administrative Agent, U.S. Bank National Association, as Syndication Agent, and other lenders named therein. The Amended and Restated Credit Facilities will mature in April 2020, unless extended, and bear interest at a variable rate. The Amended and Restated Credit Facilities amend and restate in their entirety the respective predecessor agreements for the facilities previously available to Dominion, Virginia Power and Dominion Gas and add Questar Gas as a potential borrower. The Amended and Restated Credit Facilities can be used by Questar Gas and the co-borrowers to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.0 billion (or the sub-limit, whichever is less) of letters of credit for Questar Gas. A maximum of a combined $1.0 billion of the Amended and Restated Credit Facilities is available to Questar Gas, assuming adequate capacity is available after giving effect to uses by co-borrowers Dominion, Virginia Power and Dominion Gas and subject to any sub-limits for Questar Gas agreed to among Questar Gas and the co-borrowers from time to time. Sub-limits for Questar Gas are set within the facility limit but can be changed at the option of Questar Gas and the co-borrowers multiple times per year. At November 10, 2016, the sub-limit for Questar Gas was an aggregate $0.25 billion ($0.25 billion under the Core Facility; $0 under the LOC Facility). If Questar Gas has liquidity needs in excess of its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion. The Amended and Restated Credit Facilities contain covenants that, in the event of default, could result in the acceleration of principal and interest payments; restrictions on distributions relating to Questar Gas' capital stock, including dividends, redemptions, repurchases, liquidation payments or guarantee payments; and, in some cases, termination of credit commitments unless a waiver of such requirements is agreed to by the lenders. These provisions are customary and not unique to the Amended and Restated Credit Facilities. The covenants include: The timely payment of principal and interest; Information requirements, including submitting required financial reports filed with the SEC and information about changes in Questar Gas' credit ratings to lenders; Performance obligations, audits/inspections, continuation of the basic nature of business, restrictions on certain matters related to merger or consolidation, and restrictions on disposition of all or substantially all assets; and limitations on liens.

Dominion Resources, Inc., Virginia Electric and Power Company, Dominion Gas Holdings, LLC and Questar Gas Company Enter into $5,000,000,000 Second Amended and Restated Revolving Credit Agreement

On November 10, 2016, Dominion Resources, Inc. (Dominion), and its wholly-owned subsidiaries, Virginia Electric and Power Company (Virginia Power), Dominion Gas Holdings, LLC (Dominion Gas) and Questar Gas Company (Questar Gas), entered into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement (Core Credit Facility) with JPMorgan Chase Bank, N.A., as Administrative Agent, Mizuho Bank Ltd., Bank of America, N.A., Barclays Bank PLC and Wells Fargo Bank, N.A., as Syndication Agents, and other lenders named therein. Also on November 10, 2016, Dominion, Virginia Power, Dominion Gas and Questar Gas, entered into a $500,000,000 Second Amended and Restated Revolving Credit Agreement (LOC Facility and, together with the Core Credit Facility, the Amended and Restated Credit Facilities) with Keybank National Association, as Administrative Agent, U.S. Bank National Association, as Syndication Agent, and other lenders named therein. The purpose of the Amended and Restated Credit Facilities, which amend and restate their respective predecessor agreements in their entirety, is to add Questar Gas, which became a subsidiary of Dominion in September 2016, as a borrower and to make certain administrative and related changes prompted by the addition of Questar Gas as a borrower. The Amended and Restated Credit Facilities can be used by Virginia Power and the co-borrowers to support bank borrowings and the issuance of commercial paper, as well as to support the issuance of letters of credit. The changes introduced in the Amended and Restated Credit Facilities otherwise do not affect the economic terms of the credit facilities with regard to Virginia Power. The changes are not expected to have any impact on the annual cost or availability of funds to Virginia Power. The full amount of the Amended and Restated Credit Facilities remains available to Virginia Power less any amounts due to borrowings by co-borrowers Dominion, Dominion Gas and Questar Gas and subject to any sub-limits for Virginia Power agreed to among Virginia Power and the co-borrowers from time to time.

Similar Private Companies By Industry

Company Name Region
A.O.G. Corporation United States
A.P. Fischer, Inc United States
All American Propane, Inc. United States
American Gas Management, Inc. United States
American Gas Services, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 15, 2016
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Questar Gas Company, please visit www.questargas.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.