{{Short description|Energy company in Houston, Texas}} {{Multiple issues|{{COI|date=January 2014}} {{more citations needed|date=January 2014}} {{one source|date=June 2020}}}} {{Infobox company | name = Boardwalk Pipeline Partners, LP | logo = File:Boardwalk-Pipelines-with-service-mark.svg | logo_size = 200px | type = Subsidiary | founded = {{start date and age|2005}} | location = Houston, Texas, U.S. | key_people = Stanley C. Horton (president and CEO) | industry = Energy | products = Transport and storage of natural gas and natural gas liquids | revenue = $1,307.2 mil (FY2016) | operating_income = | net_income = $302.2 mil (FY2016) | assets = {{steady}}US$8.6 billion (FY2016) | num_employees = 1,280 <small>dec'16</small> | parent = Loews Corporation | website = {{url|https://www.bwpipelines.com/}} | footnotes = }}
'''Boardwalk Pipeline Partners, LP''', which conducts business through its primary subsidiary '''Boardwalk Pipelines, LP''' and its subsidiaries,<ref name=sec10k>{{cite web |title=SEC Filings Details 10-K |url=https://www.bwpipelines.com/news-and-media/sec-filings/sec-filings-details/default.aspx?FilingId=13903928 |website=Boardwalk Pipelines |publisher=Boardwalk Pipeline Partners |accessdate=1 April 2020 |date=11 February 2020}}</ref> is an energy company based in Houston, Texas. It is a master limited partnership operating in the midstream portion of the natural gas and natural gas liquids (NGLs) industry, primarily providing transportation and storage for those commodities. Boardwalk owns approximately {{convert|14,365|mi|km}} of natural gas and NGLs pipelines and underground storage caverns having an aggregate capacity of approximately 205 billion cubic feet (Bcf) of working natural gas and {{convert|24.0|e6oilbbl|e6m3|abbr=off|lk=on|sigfig=2}} of NGLs. Boardwalk's pipeline system originates in the Gulf Coast region, Oklahoma and Arkansas and extends north and east to the Midwestern states of Tennessee, Kentucky, Illinois, Indiana, and Ohio, and Boardwalk's NGLs pipeline and storage facilities are located in Louisiana and Texas.
Boardwalk Pipelines Holding Corp., which is a wholly owned subsidiary of Loews Corporation, owns 100% of Boardwalk Pipeline Partners's capital.<ref name=sec10k />
==History== Loews Corporation (NYSE: L) bought Texas Gas Transmission, LLC in May 2003<ref>{{Cite web|last=|first=|date=15 April 2003|title=Loews to Buy Natural Gas Pipeline for $795 Million|url=https://www.nytimes.com/2003/04/15/business/company-news-loews-to-buy-natural-gas-pipeline-for-795-million.html|url-status=live|archive-url=https://web.archive.org/web/20150527233411/http://www.nytimes.com/2003/04/15/business/company-news-loews-to-buy-natural-gas-pipeline-for-795-million.html |archive-date=2015-05-27 |access-date=29 October 2020|website=The New York Times}}</ref> and Gulf South Pipeline Company, LP in December 2004.
These two interstate natural gas pipeline companies were consolidated into a new entity – Boardwalk Pipeline Partners, LP – which went public in 2005.<ref>{{Cite web|last=|first=|date=|title=Boardwalk Pipeline Partners, LP|url=http://media.corporate-ir.net/media_files/irol/19/193443/Boardwalk_Fact_Sheet_Web.pdf|archive-url=|archive-date=|access-date=29 October 2020|website=Media Corporate}}</ref> Boardwalk placed into service a third interstate natural gas pipeline company, Gulf Crossing Pipeline Company LLC, in 2009.
In 2011, Boardwalk acquired the Petal and Hattiesburg natural gas storage companies, which were merged into Gulf South in 2015.
In 2012, Boardwalk acquired Boardwalk Louisiana Midstream, LLC, which diversified Boardwalk's operations into the natural gas liquids business, serving petrochemical markets in southern Louisiana.<ref>{{ cite web | url=https://www.sec.gov/Archives/edgar/data/1336047/000133604712000032/exh991bwpplmacquitionpress.htm | title=Boardwalk and Its General Partner to Acquire PL Midstream LLC (Exh 99.1) | website=U.S. Securities and Exchange Commission}}</ref>
In 2014, Boardwalk acquired Evangeline ethylene pipeline system, further expanding Boardwalk's service offerings to petrochemical customers.<ref>{{Cite web|last=|first=|date=4 September 2014|title=Evangeline pipeline system being sold to Boardwalk|url=https://www.theadvocate.com/baton_rouge/news/business/article_c681f82c-28a0-593c-a2b8-561f1e629c90.html|archive-url=|archive-date=|access-date=29 October 2020|website=The Advocate}}</ref> Boardwalk Field Services, LLC develops and operates gas gathering, compression, dehydration, treating, and processing infrastructure, and in June 2013 placed its processing plant into service.
In 2018, Loews Corporation acquired Boardwalk so that it became a subsidiary company, with its stock being delisted from the New York Stock Exchange.
In 2021 the Delaware Court of Chancery ruled for the former partners in the case ''Bandera Master Fund LP et al v Boardwalk Pipeline Partners LP et al''<ref>Gail Weinstein, Mark H. Lucas, David L. Shaw. (11 December 2021). "Damages Awards Based on Controller’s Reliance on Outside Counsel’s Legal Opinion". Harvard Law School Forum on Corporate Governance (Blog post). [https://corpgov.law.harvard.edu/2021/12/11/damages-awards-based-on-controllers-reliance-on-outside-counsels-legal-opinion/ Harvard Law School website] Retrieved 25 October 2022.</ref> which awarded them $690M, but the case is being appealed.<ref>Jonathan Stempel. (12 November 2021). "Judge orders Loews to pay $690 mln over Boardwalk Pipelines buyout; appeal planned ". [https://www.reuters.com/legal/judge-orders-loews-pay-690-mln-over-boardwalk-pipelines-buyout-appeal-planned-2021-11-12/ Reuters website] Retrieved 25 November 2022.</ref>
==References== <references />
== External links == * {{Official|https://www.bwpipelines.com/}}
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Category:Companies formerly listed on the New York Stock Exchange Category:Natural gas pipeline companies Category:Natural gas companies of the United States Category:Companies based in Houston Category:2005 establishments in Texas Category:Companies based in Harris County, Texas