Company Overview of Questar Gas Company
Questar Gas Company engages in the distribution of natural gas to residential and commercial customers in Utah, southwestern Wyoming, and southeastern Idaho. The company owns and operates distribution systems, and has a total of 27,415 miles of street mains, service lines, and interconnecting pipelines. As of March 31, 2012, it served 923,272 customers. The company is based in Salt Lake City, Utah. Questar Gas Company is a subsidiary of Questar Corporation.
333 South State Street
PO Box 45360
Salt Lake City, UT 84145-0360
Key Executives for Questar Gas Company
Vice President and Controller
General Manager of State Regulatory Affairs
Compensation as of Fiscal Year 2013.
Questar Gas Company Key Developments
Questar Gas Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Capital Investment Forecast for the Year 2014
Feb 19 14
Questar Gas reported unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenues of $337.4 million compared to $281.0 million a year ago. Operating income was $46.6 million compared to $40.3 million a year ago. Net income was $26.0 million compared to $23.8 million a year ago. Adjusted EBITDA was $60.7 million compared to $56.6 million a year ago.
For the year, the company reported revenues of $985.2 million compared to $859.7 million a year ago. Operating income was $101.9 million compared to $92.9 million a year ago. Net income was $52.8 million compared to $47.1 million a year ago. Adjusted EBITDA was $156.7 million compared to $148.0 million a year ago.
The company provided capital investment forecast for the year 2014. For the year, the company expects capital investment of $190 million.
Questar Gas Company Receives Approval to Add Natural Gas Properties Under Wexpro II Agreement
Jan 28 14
Questar Gas has received approval from the Utah and Wyoming public service commissions to include natural gas producing properties under the Wexpro II Agreement. Under the terms of Wexpro II, approval was needed from both states. These approvals extend the benefits of Wexpro production. Under the terms of the original Wexpro Agreement, Questar affiliate Wexpro Company produces gas from certain properties at cost of service for the benefit of Questar's Utah and Wyoming utility customers. The Wexpro II Agreement perpetuates that model by enabling the company to add new properties for cost-of-service development. Wexpro II, approved in 2013, stipulates that all Wexpro acquisitions within the footprint of the 1981 agreement must be offered to the public service commissions of Utah and Wyoming for inclusion as cost-of-service properties benefitting Questar's utility customers. In September, Wexpro acquired additional working interest in existing Wexpro-operated wells in the Trail Unit of southwestern Wyoming's Vermillion Basin for about $104 million. Wexpro already owned 46% working interest in the properties; the acquisition increased that interest to 88 percent. It also added an estimated 118 billion cubic feet equivalent (Bcfe) of net proved reserves with additional upside potential.
Questar Gas Company Enters into Note Purchase Agreement
Dec 24 13
On December 20, 2013, Questar Gas Company entered into a note purchase agreement with the purchasers listed in Schedule A thereto relating to the issuance and sale by the company of $90,000,000 aggregate principal amount of 4.78% Senior Notes, Series A, due December 1, 2043 and $60,000,000 aggregate principal amount of 4.83% Senior Notes, Series B, due December 1, 2048.
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