September 17, 2014 4:09 AM ET

Gas Utilities

Company Overview of Centerpoint Energy Resources Corp.

Company Overview

CenterPoint Energy Resources Corp., together with its subsidiaries, owns and operates natural gas distribution systems in the United States. Its Natural Gas Distribution segment is engaged in intrastate natural gas sales and transportation for approximately 3.3 million residential, commercial, and industrial customers in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. This segment also sells heating, ventilating, and air conditioning equipment; provides appliance repair and maintenance services; owns and operates an underground natural gas storage facility with a capacity of 7.0 billion cubic feet; and owns approximately 73,000 linear miles of natural gas distribution mains...

1111 Louisiana

Houston, TX 77002

United States

4,714 Employees

Phone:

713-207-1111

Key Executives for Centerpoint Energy Resources Corp.

Chairman
Age: 48
Chief Financial Officer and Executive Vice President
Age: 64
Chief Executive Officer of Texas Genco and President of Texas Genco
Age: 69
President of CenterPoint Energy Pipeline & Field Services Group and Chief Operating Officer of CenterPoint Energy Pipeline & Field Services Group
Age: 66
Executive Vice President and President of Electric Division
Age: 55
Compensation as of Fiscal Year 2014.

Centerpoint Energy Resources Corp. Key Developments

CenterPoint Energy, Inc., CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Resources Announce Amendment to Credit Agreement

On September 9, 2014, (a) CenterPoint Energy, Inc., JPMorgan Chase Bank, N.A., as administrative agent, and the banks party thereto entered into a Third Amendment to Credit Agreement (the CenterPoint Amendment), amending CenterPoint's Credit Agreement dated as of September 9, 2011, (b) CenterPoint's indirect, wholly-owned subsidiary, CenterPoint Energy Houston Electric, LLC (CEHE), JPMorgan Chase Bank, N.A., as administrative agent, and the banks party thereto entered into a Second Amendment to Credit Agreement, amending CEHE's Credit Agreement dated as of September 9, 2011 and (c) CenterPoint's indirect, wholly-owned subsidiary, CenterPoint Energy Resources Corp. (CERC), Citibank, N.A., as administrative agent, and the banks party thereto entered into a Third Amendment to Credit Agreement (the CERC Amendment and together with the CenterPoint Amendment and the CEHE Amendment, the Amendments), amending CERC's Credit Agreement dated as of September 9, 2011. The Amendments, among other things, extend the maturity date of the commitments under the Credit Agreements from September 9, 2018 to September 9, 2019. The Amendments also reduce the swingline and letter of credit sub-facilities under each Credit Agreement, with the total commitments under each Credit Agreement remaining unchanged.

CenterPoint Energy, Inc. Amends Three Revolving Bank Credit Facilities of the Parent and its wholly-owned subsidiaries, Centerpoint Energy Houston Electric, LLC and Centerpoint Energy Resources Corp

CenterPoint Energy, Inc. announced that it amended the three revolving bank credit facilities of the parent and its wholly-owned subsidiaries, CenterPoint Energy Houston Electric, LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC). The amendments extend the maturity date of each of the facilities from September 9, 2016, to September 9, 2018. In addition, the debt-to-earnings before interest, taxes, depreciation and amortization financial covenant in the CenterPoint Energy facility has been replaced with a debt-to-capitalization financial covenant and the aggregate commitments under the CERC facility have been reduced from $950 million to $600 million. The aggregate commitments under the CenterPoint Energy and CEHE facilities remain at $1.2 billion and $300 million, respectively.

CenterPoint Energy, Inc. and Centerpoint Energy Resources Corp. Enter into First Amendment to Credit Agreement

CenterPoint Energy, Inc., JPMorgan Chase Bank, N.A., as administrative agent, and the banks party thereto entered into a first amendment to credit agreement to CenterPoint’s $1,200,000,000 Credit Agreement, dated as of September 9, 2011, and (b) CenterPoint’s wholly owned subsidiary, CenterPoint Energy Resources Corp., Citibank, N.A., as administrative agent, and the banks party thereto entered into a first amendment to credit agreement to CERC’s $950,000,000 credit agreement, dated as of September 9, 2011. The amendments amend the credit agreements to add exceptions to each borrower’s covenants restricting (i) the consolidation, merger or disposal of assets and (ii) the sale of stock in certain significant subsidiaries, in each case to permit the transactions contemplated by CenterPoint’s previously announced midstream joint venture transaction with OGE Energy Corp. and two affiliates of ArcLight Capital Partners, LLC.

Similar Private Companies By Industry

Company Name Region
Pentex Alaska Natural Gas Company, LLC United States
Kinder Morgan Liquids Terminals LLC United States
Southeastern Fuels, Inc. United States
Midwest Natural Gas, Inc. United States
NCL Appalachian Partners, L.P. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Centerpoint Energy Resources Corp., please visit www.centerpointenergy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.