Boardwalk Pipeline Partners LP on Monday slashed its quarterly distribution by 81% in order to reduce debt and fund projects following a fourth quarter that saw net income fall 78% from a year ago. Net income for 2013 was down 17% from the prior year.
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Articles from Boardwalk
Marcellus to Sit on Boardwalk Rates Again Next Year
The Marcellus Shale continues to make its presence felt, not just in the Northeast but also down south in the Gulf Coast region where Boardwalk Pipeline Partners LP continues to see its pipeline capacity discounted by a market awash in gas.
Two Gulf Coast Projects Planned to Export More LPG
Shale-driven natural gas liquids (NGL) supplies are pushing midstream companies to pursue additional capacity to export propane and/or butane from the Gulf Coast. Two new projects would offer combined loading capacity of 36,000 bbl per hour for export.
Boardwalk Building Marcellus System for Southwestern
A unit of Boardwalk Pipeline Partners LP plans to build a $90 million gathering system in northeastern Pennsylvania to connect Southwestern Energy Co. wells in the region to the Tennessee Gas Pipeline Co.’s (TGP) Line 300.
Gulf Crossing Cleared to Deliver Up to 1.3 Bcf/d in July
Boardwalk Pipeline Partners LP Tuesday said its 356-mile Gulf Crossing Pipeline has completed remediation of pipe anomalies on its system and has been given the green light by the Department of Transportation (DOT) to operate the pipeline at normal operating pressures of up to 72% of the specified minimum yield strength (SMYS) effectively immediately.
Gulf Crossing Available for Service Wednesday
A “big portion” of the capacity on the new Gulf Crossing Pipeline will become available Wednesday, a spokeswoman for parent Boardwalk Pipeline Partners LP said Monday.
Industry Briefs
Boardwalk Pipeline Partners LP subsidiaries Gulf Crossing Pipeline Co. LLC and Gulf South Pipeline Co. LP received a FERC nod to place in service the initial portion of the Gulf Crossing project from Grayson County, TX, to Ouachita Parish, LA. Gulf Crossing also got the go-ahead to place three metering facilities in service: Enterprise Texas Pipeline’s station in Grayson County; Enogex Inc.’s station in Bryan County, OK; and Texas Gas Transmission’s station in Ouachita Parish. The approval came two weeks after the Commission gave Gulf South the green light to place in service the 42-inch diameter Mississippi Loop of the Gulf Crossing project. The 17.8 miles of pipeline loop are located between Hinds County, MS, and Simpson County, MS. Gulf Crossing said it expects to place in service during the first quarter the entire 356.3-mile, 42-inch diameter pipeline and associated compression facilities.
Gulf Crossing Seeks to Start Up Facilities by Friday
Boardwalk Pipeline Partners LP subsidiaries Gulf Crossing Pipeline Co. LLC and Gulf South Pipeline Co. LP Tuesday asked FERC for the go-ahead to place in service the initial portion of the Gulf Crossing project from Grayson County, TX, to Ouachita Parish, LA, by Friday (Jan. 16).
Gulf Crossing’s Mississippi Loop Set to Open Dec. 29
Boardwalk Pipeline Partners LP subsidiaries Gulf Crossing Pipeline Co. LLC and Gulf South Pipeline Co. LP have asked FERC for authorization to place their 42-inch diameter Mississippi Loop in service by Dec. 29, the companies said Tuesday.
Industry Briefs
Gulf South Pipeline Co. LP, a subsidiary of Boardwalk Pipeline Partners LP, has launched a binding open season to solicit interest in expanding its East Texas-to-Mississippi 42-inch diameter pipeline. The expansion would provide for increased natural gas production from East Texas and the emerging Haynesville Shale of northwestern Louisiana. If it obtains enough commitments in the open season, Gulf South would expand its existing system by 500,000 MMBtu/d with compression subject to Federal Energy Regulatory Commission approval. Gulf South said that based on commitments, it also may pursue “further expansions of its capacity beyond the initial expansion” of 500,000 MMBtu/d. The East Texas-to-Mississippi expansion project was placed in service early this year (see NGI, Jan. 21). Bids for capacity will be accepted until 3 p.m. CDT on Oct. 6. For more information contact Rick Whitworth at (713) 479-8644 or Steve Noe at (713) 479-8126, or visit www.gulfsouthpl.com.