Profile: Boardwalk Pipeline Partners LP (BWP)
23 Sep 2016
Boardwalk Pipeline Partners, LP, incorporated on August 4, 2005, is a limited partnership company. The Company conducts business through its primary subsidiary, Boardwalk Pipelines, LP (Boardwalk Pipelines), and its subsidiaries, Gulf South Pipeline Company, LP (Gulf South), Texas Gas Transmission, LLC (Texas Gas), Gulf Crossing Pipeline Company LLC (Gulf Crossing), Boardwalk Louisiana Midstream, LLC (Louisiana Midstream), Boardwalk Petrochemical Pipeline, LLC (Boardwalk Petrochemical) and Boardwalk Field Services, LLC. The Company's business includes integrated natural gas and natural gas liquids (NGLs), and other hydrocarbons pipeline and storage systems, and natural gas gathering and processing.
The Company's segment consists of interstate natural gas pipeline systems, which originate in the Gulf Coast region, Oklahoma and Arkansas and extend north and east through the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio, and NGLs pipelines and storage facilities in Louisiana and Texas. It serves a range of customers, including producers of natural gas, local distribution companies (LDCs), marketers, electric power generators, industrial users, and interstate and intrastate pipelines. It provides a portion of its pipeline transportation and storage services through firm contracts under which the Company's customers pay monthly capacity reservation charges.
The Company owns and operates approximately 14,090 miles of interconnected natural gas pipelines directly serving customers in over 13 states, and indirectly serving customers throughout the northeastern and southeastern United States through interconnections with unaffiliated pipelines. It also owns and operates approximately 440 miles of NGLs pipelines in Louisiana. Its natural gas storage facilities comprises of approximately 10 underground storage fields located in over four states with aggregate working gas capacity of approximately 205.0 billion cubic feet (Bcf) and its NGLs storage facilities consist of over nine salt-dome caverns located in Louisiana with an aggregate storage capacity of approximately 24.0 million barrels (MMBbls). The Company also owns over three salt-dome caverns and a brine pond for use in providing brine supply services and to support the NGLs storage operations.
The principal sources of supply for its natural gas pipeline systems are regional supply hubs and market centers located in the Gulf Coast region, including offshore Louisiana, the Perryville, Louisiana area, the Henry Hub in Louisiana and the Carthage, Texas area. Its pipelines in the Carthage, Texas area, provide access to natural gas supplies from the Bossier Sands, Barnett Shale, Haynesville Shale and other natural gas producing regions in eastern Texas and northern Louisiana. The Henry Hub serves as the designated delivery point for natural gas futures contracts traded on the New York Mercantile Exchange. Its pipeline systems also have access to unconventional supplies, such as the Woodford Shale in southeastern Oklahoma; the Fayetteville Shale in Arkansas, the Eagle Ford Shale in southern Texas and wellhead supplies in northern and southern Louisiana and Mississippi. With the development of the Marcellus and Utica Shales located in the northeastern United States, the Company also receives gas in the Lebanon, Ohio area. The Company's NGLs pipeline systems access the Gulf Coast petrochemical industry through operations at its Choctaw Hub in the Mississippi River corridor area of Louisiana and the Sulfur Hub in the Lake Charles, Louisiana area. It also accesses ethylene supplies at Port Neches, Texas, which the Company delivers to petrochemical-industry customers in Louisiana.
The Company's Gulf South pipeline system is located along the Gulf Coast in the states of Texas, Louisiana, Mississippi, Alabama and Florida. The on-system markets directly served by the Gulf South system are located in eastern Texas, Louisiana, southern Mississippi, southern Alabama and the Florida Panhandle. These markets include LDCs and municipalities located across the system, including New Orleans, Louisiana; Jackson, Mississippi; Mobile, Alabama, and Pensacola, Florida and other end users located across the system, including the Baton Rouge to New Orleans industrial corridor and Lake Charles, Louisiana. Gulf South has over 10 natural gas storage facilities. The natural gas storage facilities located in Bistineau, Louisiana, and Jackson, Mississippi have approximately 83.5 Bcf of working gas storage capacity from which Gulf South offers firm and interruptible storage service, including no-notice service (NNS), and supports pipeline operations. Gulf South also owns and operates over eight salt-dome natural gas storage caverns in Forrest County, Mississippi, having approximately 46.0 Bcf of total storage capacity, of which approximately 29.6 Bcf is working gas capacity, and owns undeveloped land, which is suitable for over five additional storage caverns.
The Company's Texas Gas pipeline system originates in Louisiana, East Texas and Arkansas and runs north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, Indiana and into Ohio with smaller diameter lines extending into Illinois. Texas Gas directly serves LDCs municipalities and power generators in its market area, which encompasses over eight states in the South and Midwest, and includes the Memphis Tennessee; Louisville Kentucky; Cincinnati and Dayton Ohio, and Evansville and Indianapolis, Indiana metropolitan areas. Texas Gas also has indirect market access to the Northeast through interconnections with unaffiliated pipelines. Texas Gas owns approximately nine natural gas storage fields of which it owns the majority of the working and base gas. The Company's Gulf Crossing pipeline system originates near Sherman Texas and proceeds to the Perryville Louisiana area. Its market areas are in the Midwest, Northeast and Southeast, including Florida, through interconnections with Gulf South Texas Gas and unaffiliated pipelines.
Louisiana Midstream and Boardwalk Petrochemical, collectively Louisiana Midstream, provides transportation and storage services for natural gas, NGLs and ethylene, fractionation services for NGLs, and brine supply services for producers and consumers of petrochemicals through over two hubs in southern Louisiana, including the Choctaw Hub in the Mississippi River Corridor area and the Sulfur Hub in the Lake Charles area. These assets provide approximately 67.1 MMBbls of salt dome storage capacity, including approximately 7.6 Bcf of working natural gas storage capacity; brine supply infrastructure, and approximately 270 miles of pipeline assets, including an ethylene distribution system. Louisiana Midstream also owns and operates the Evangeline Pipeline (Evangeline), a 180-mile interstate ethylene pipeline that is capable of transporting approximately 2.6 billion pounds of ethylene per year between Port Neches, Texas, and Baton Rouge, Louisiana, where it interconnects with the Company's ethylene distribution system and storage facilities at the Choctaw Hub. The Company's field services operate natural gas gathering compression treating and processing infrastructure. The Company operates its field services primarily in south Texas.
Boardwalk Pipeline Partners LP
9 Greenway Plz Ste 2800
HOUSTON TX 77046-0926
Company Web Links
- BRIEF-Boardwalk Pipeline to offer and sell common units of up to $500 mln - sec filing
- BRIEF-Boardwalk announces Q2 2016 results and quarterly distribution of $0.10 per unit
- BRIEF-Boardwalk prices $550 million offering of senior notes
- U.S. RESEARCH ROUNDUP-International Paper, United Technologies, Republic Services
- BRIEF-Boardwalk posts Q1 net income of $0.40 per unit