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Tallgrass Energy, LP

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Feb 12, 2020. Its latest SEC filing is a SC 13G/A from Feb 11, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Transports crude oil through pipelines for shippers, and provides natural gas transportation and storage and other energy services to shippers and oil and gas producers.

How Did They Make Money?

Tallgrass generally bills and collects monthly for services and commodity volumes sold. Customers pay for pipeline transportation, storage, gathering, processing and water services based on service provided or volumes handled; commodity sales are tied to delivery.

revenue

Who Were Their Customers?

Natural gas transportation and storage serves local distribution companies, industrial users and other shippers. Crude oil transportation serves shippers, while water services support oil and gas producers.

Customers above 10% of revenue, FY2019
of revenue from one customer
FY2017: 15% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 29 cents of every revenue dollar as net income in .

Operating income,
41% of revenue
▲ +1% vs ($350.6M, 44%)
Net income,
29% of revenue
▲ +81% vs ($137.1M, 17%)

How Were They Changing?

Since the FY2019 annual report
  • Apr 17, 2020 Tallgrass completed its merger and suspended Class A trading Eligible Class A shareholders received $22.45 per share in cash; the company requested removal of the shares from listing.

Grew. Revenue grew 60% in 4 years, from $542.7M in to $868.5M in , about 12% a year.

Who Did They Compete With?

Competes with Enbridge, Kinder Morgan, Northern Natural Gas, Southern Star Central Gas Pipeline, Energy Transfer, Williams, Sinclair Oil, Plains All American Pipeline, Suncor Energy, Magellan Midstream Partners, Occidental Petroleum, NGL Energy Partners, ONEOK, Western Midstream Partners, Crestwood Equity Partners, Meritage Midstream Services II, Blueknight Energy Partners, Rattler Midstream, and Select Energy Services

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