UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D. C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): October 1, 2008
PANHANDLE
EASTERN PIPE LINE COMPANY, LP
(Exact
name of registrant as specified in its charter)
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Delaware
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1-2921
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44-0382470
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
No.)
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5444
Westheimer Road
Houston,
Texas
(Address
of principal executive offices)
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77056-5306
(Zip
Code)
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Registrant's
telephone number, including area code: (713) 989-2000
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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[
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01 Other Events
The
parent of Panhandle Eastern Pipe Line Company, LP (“Panhandle”), Southern Union
Company (“Southern Union”), today issued a press release, which is attached
hereto as Exhibit 99.1 and incorporated herein by reference, announcing that it
has completed preliminary damage assessments of its operations following
Hurricanes Gustav and Ike.
The press
release details that (i) inspections have identified only limited and isolated
damage at Panhandle’s onshore Texas and Louisiana transportation & storage
facilities, including Trunkline Gas Company, LLC ("TGC") and Trunkline LNG
Company, LLC; (ii) Panhandle’s onshore facilities are fully operational; and
(iii) Panhandle’s offshore facilities, including Sea Robin Pipeline Company, LLC
and TGC’s Terrebonne system, have suffered damage to several platforms and are
continuing to experience reduced volumes.
ITEM
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No. Exhibit
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Southern Union’s
October 1, 2008 Press Release
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This 8-K
includes forward-looking statements. Although Panhandle believes that its
expectations are based on reasonable assumptions, it can give no assurance that
such assumptions will materialize. Important factors that could cause actual
results to differ materially from those in the forward-looking statements herein
are enumerated in Panhandle's Forms 10-K and 10-Q as filed with the Securities
and Exchange Commission. The Company assumes no obligation to publicly update or
revise any forward-looking statements made herein or any other forward-looking
statements made by the Panhandle, whether as a result of new information, future
events, or otherwise.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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PANHANDLE
EASTERN PIPE LINE COMPANY, LP
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(Registrant)
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Date:
October 1,
2008
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By:
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/s/ Robert M.
Kerrigan, III
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Robert
M. Kerrigan, III
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Vice
President and Secretary
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EXHIBIT
INDEX
Exhibit
No. Description
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Southern Union’s
October 1, 2008 Press Release
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08-17
For
further information:
John F.
Walsh, Vice President of Investor Relations
212-659-3208
John P.
Barnett, Director of External Affairs
713-989-7556
HOUSTON,
October 1, 2008 –
Southern Union Company (NYSE: SUG) today announced that it has completed
preliminary evaluations of damage caused by hurricanes Gustav and Ike.
Hurricane Ike, in particular, affected both the company’s transportation &
storage and gathering & processing business segments. Notwithstanding
the hurricane impacts, the company announced that it is affirming its previous
adjusted EPS guidance for 2008 of $1.80 to $1.90 per share but now expects to be
at the lower end of the range.
Inspections
have identified only limited and isolated damage at the company’s onshore Texas
and Louisiana transportation & storage facilities, including Trunkline Gas
Company (TGC), Trunkline LNG Company and Florida Gas Transmission. All
onshore facilities are fully operational. Offshore facilities, including
Sea Robin Pipeline and TGC’s Terrebonne system, have suffered damage to several
platforms and are continuing to experience reduced volumes. The company is
completing its damage assessment and working with customers to develop an
appropriate action plan.
While the
facilities of Southern Union Gas Services (SUGS), the company’s gathering &
processing business, were not affected by the hurricanes, SUGS’ third-party
natural gas liquid (NGL) fractionator sustained significant damage to its Mont
Belvieu, Texas, facility as a result of Hurricane Ike. SUGS was forced to
shut in its natural gas processing plants and attendant production for
approximately a week but has gradually resumed operations and expects to be at
or near full capacity by the end of the year. A portion of NGL production
is being fractionated with the remainder being delivered into Mont Belvieu
storage pending completion of repairs and previously scheduled maintenance at
the fractionation facility. The stored NGLs will be fractionated and sold
over the next few months.
The
company has no hedging or other contractual counterparty exposure to Lehman
Brothers Holding Company Inc. or its subsidiaries or affiliates. The
company added that it has no physical delivery requirements related to its
current hedging portfolio and that existing hedges are cash settling in the
normal course.
About Southern Union
Company
Southern
Union Company, headquartered in Houston, is one of the nation’s leading
diversified natural gas companies, engaged primarily in the transportation,
storage, gathering, processing and distribution of natural gas. The company owns
and operates one of the nation’s largest natural gas pipeline systems with
approximately 20,000 miles of gathering and transportation pipelines and North
America’s largest liquefied natural gas import terminal, along with serving more
than half a million natural gas end-user customers in Missouri and
Massachusetts. For further information, visit www.sug.com.
Forward-Looking
Information
This news
release includes forward-looking statements. Although Southern Union
believes that its expectations are based on reasonable assumptions, it can give
no assurance that such assumptions will materialize. Important
factors that could cause actual results to differ materially from those in the
forward-looking statements herein are enumerated in Southern Union’s Forms 10-K
and 10-Q as filed with the Securities and Exchange Commission. The
Company assumes no obligation to publicly update or revise any forward-looking
statements made herein or any other forward-looking statements made by the
Company, whether as a result of new information, future events, or
otherwise.