Rockies Express Pipeline LLC said April 15 that it repaid the $450 million in senior unsecured notes due that day. The notes were repaid through member cash contributions.
Rockies Express also said it recently received BB+ with stable outlook rating from Standard & Poor’s. It also recently received a Ba2 with positive outlook rating from Moody’s.
Rockies Express Pipeline LLC is about 1,712 miles long, transporting natural gas from Opal, Wyo. and Meeker, Colo., to Clarington, Ohio. The 36-inch and 42-inch diameter pipe has long-haul capacity of up to 1,800 million cubic feet of natural gas per day (MMcf/d), eight receipt-only points, six bi-directional points and 35 delivery interconnections that provide access to markets not directly served by the pipeline.
The pipeline also has 14 mainline compressor stations and four booster stations with about 427,000 total horsepower.
Rockies Express Pipeline LLC is a joint venture formed by a subsidiary of Tallgrass Development LP (50% share); Sempra U.S. Gas & Power, a subsidiary of Sempra Energy (25% share) and P66REX LLC, a subsidiary of Phillips 66 (25% share).
A wholly owned subsidiary of Tallgrass Development LP operates the pipeline. Tallgrass Development LP is a member of the Tallgrass Energy family of companies, which includes Tallgrass Energy Partners LP (NYSE: TEP).
Tallgrass Energy is based in Leawood, Kan.
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