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SEC Filings
8-K
PANHANDLE EASTERN PIPE LINE CO LP filed this Form 8-K on 05/09/2018
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the prior period pursuant to the bankruptcy filing of a transport customer, partially offset by an increase of $3 million related to two new joint venture pipelines placed in service in 2017.
Interstate Transportation and Storage
 
Three Months Ended
March 31,
 
2018
 
2017
Natural gas transported (BBtu/d)
8,204

 
5,656

Natural gas sold (BBtu/d)
17

 
17

Revenues
$
316

 
$
235

Operating expenses, excluding non-cash compensation, amortization and accretion expenses
(94
)
 
(74
)
Selling, general and administrative expenses, excluding non-cash compensation, amortization and accretion expenses
(17
)
 
(12
)
Adjusted EBITDA related to unconsolidated affiliates
116

 
115

Other
2

 
1

Segment Adjusted EBITDA
$
323

 
$
265

Transported volumes reflected an increase of 1,470 BBtu/d as a result of the partial in service of the Rover pipeline, an increase of 444 BBtu/d on the Tiger pipeline as a result of production increases in the Haynesville Shale and deliveries into third party storage and the intrastate markets, and an increase of 402 BBtu/d and 229 BBtu/d on the Panhandle and Trunkline pipelines, respectively, resulting from higher demand due to colder weather.
Segment Adjusted EBITDA. For the three months ended March 31, 2018 compared to the same period last year, Segment Adjusted EBITDA related to our interstate transportation and storage segment increased due to the net effect of the following:
an increase of $49 million due to the partial in service of the Rover pipeline which reflected increases of $82 million in revenues, $26 million in operating expenses and $7 million in general and administrative expenses;
a decrease of $6 million in operating expenses, excluding the incremental expenses related to the Rover pipeline discussed above, primarily due to lower allocated costs, reduction in project maintenance work and lower transportation and storage related expenses; and
a decrease of $2 million in general and administrative expenses, excluding the incremental expenses related to the Rover pipeline discussed above, primarily due to lower allocated costs and insurance reserves.

10

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