HOUSTON, Oct. 2, 2017 /PRNewswire/ -- Boardwalk Pipeline
Partners, LP (NYSE: BWP) announced today that its Texas Gas
Transmission Company, LLC subsidiary (Texas Gas) has filed with the
Federal Energy Regulatory Commission (FERC) seeking approval to
restructure some of its existing firm transportation agreements and
enter into new firm transportation agreements with subsidiaries of
Southwestern Energy (NYSE: SWN) on Texas Gas' Fayetteville and Greenville Laterals.
"These agreements are value enhancing for Boardwalk. The
restructuring of Southwestern's transportation agreements helps
Texas Gas achieve greater long-term revenue generation. It
also provides future revenue upside through Southwestern's volume
commitment of flowing gas from the Fayetteville and Moorefield plays. Our
relationship with Southwestern and their long-term commitment to
Texas Gas will provide an important source of supplies to support
the growth of our end-use markets," stated Stan Horton, Boardwalk's president and CEO.
The agreement lowers the contract quantities for Southwestern's
existing firm transportation contracts on the Fayetteville Lateral
through 2020 and adds new long-term firm transportation agreements
on the Fayetteville and Greenville
Laterals through 2030. Boardwalk will also have rights
through 2030 to transport natural gas produced from the committed
volumes that Southwestern Energy produces in the Fayetteville and Moorefield plays.
For more information about the underlying firm transportation
agreements, please refer to the Texas Gas FERC filing submitted on
September 29, 2017, which can be
accessed through this link: Texas Gas FERC Filing of
Southwestern Restructuring. The terms of the other existing
firm transportation agreements between Texas Gas and Southwestern
will remain unchanged.
The chart compares the demand charge anticipated revenues
under the existing contracts and the proposed new contracts.
About Boardwalk: Boardwalk Pipeline Partners, LP (NYSE:
BWP) is a midstream master limited partnership that transports and
stores natural gas and liquids for its customers. Additional
information about the Partnership can be found on its website at
www.bwpmlp.com.
Forward-Looking Statement: This press release
contains forward-looking statements relating to expectations, plans
or prospects for Boardwalk Pipeline Partners, LP and its
subsidiaries, relating to, among other things, approval of the
restructured contracts by FERC and the resulting anticipated
revenues from the restructured contracts. These statements
are based upon the beliefs and expectations of Boardwalk management
based on currently available information and expectations, and
management expressly disclaims any obligation to update or revise
these statements to reflect any change in its expectations, plans
or prospects or any change in events, conditions or
circumstances. Actual results may differ materially from
those projected in this press release, due to a wide range of risks
and uncertainties, including those set forth in our SEC
documents.
CONTACT:
Molly Ladd Whitaker,
866-913-2122
Director of Investor Relations and Corporate Communications
ir@bwpmlp.com
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SOURCE Boardwalk Pipeline Partners, LP