DOCSLIB.ORG

T H E C E N T E R F O R Applied Economics

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

T H E C E N T E R F O R SCHOOL OF APPLIED ECONOMICS BUSINESS The University of Kansas Supporting Regional Economic Development through Analysis and Education THE KANSAS OIL AND GAS INDUSTRY: AN ENDURING MODEL OF HIGH-TECH ENTREPRENEURSHIP Arthur P. Hall Executive Director Center for Applied Economics University of Kansas School of Business Technical Report 12-1116 November 2012 About The Center for Applied Economics The KU School of Business established the Center for Applied Economics in February of 2004. The mission of the Center for Applied Economics is to help advance the economic development of the state and region by offering economic analysis and economic education relevant for policy makers, community leaders, and other interested citi- zens. The stakeholders in the Center want to increase the amount of credible economic analysis available to decision makers in both the state and region. When policy makers, community leaders, and citizens discuss issues that may have an impact on the economic development potential of the state or region, they can benefit from a wide array of perspectives. The Center focuses on the contributions that markets and economic institutions can make to economic development. Because credibility is, in part, a function of economic literacy, the Center also promotes economics education. About the Author Arthur P. Hall is the founding Executive Director of the Center for Applied Economics at the University of Kansas School of Business. Before joining the KU School of Business, Hall was Chief Economist in the Public Affairs group of Wichita, KS-based Koch Industries, Inc. In that capacity, he worked with business leaders to define how public policy initiatives would influence the structure of the markets in which the company participates. Koch sponsored Hall’s directorship of Kansas Governor Sebelius’ Budget Efficiency Savings Teams from April 2003 until his depar- ture from the firm in February 2004. Before joining Koch Industries in May 1997, Hall was Senior Economist at the Washington, D.C.-based Tax Founda- tion, where he produced quantitative and qualitative research pertaining to the economics of taxation and acted as an economic advisor to The National Commission on Economic Growth and Tax Reform. Before that, he worked as a financial economist at the U.S. General Accounting Office. Hall has taught university-level economics at both the undergraduate and MBA level. He received his doctorate in economics from the University of Georgia and his bachelor of arts in economics from Emory University. The opinions expressed are those of the author; they should in no way be interpreted as the viewpoints of the University of Kansas (or any subunits thereof) or the Kansas Board of Regents. The Center for Applied Economics gratefully acknowledges financial support from the Kansas Oil and Gas Resource Fund. Table of Contents The Kansas Oil and Gas Industry: An Enduring Model of High-Tech Entrepreneurship ..........1 Visualizing the Model of High-Tech Entrepreneurship ...............................................................4 Understanding Global Price-Setting Mechanisms in the Context of Integrated Global Markets ...............................................................................................................12 Trends in the Global Consumption and Production of Oil ............................................14 Details Related to Oil Supply ................................................................................................17 Physical Markets and Paper Markets: Prelude to Discussion of Oil Demand ..............19 Details Related to Oil Demand ............................................................................................23 Environmental Regulations: An Explanation of the Price Spike of 2006-2008 .........24 The Co-Movement of Oil and Natural Gas Prices ...........................................................27 Entrepreneurial Cost Control through the Business of Science and Engineering .................30 The Technology of the Upstream Sector ...........................................................................31 The Business of the Upstream Sector .................................................................................35 Site Preparation, Well Drilling, and Well Completion .......................................................37 Health, Safety, and Environmental Oversight ....................................................................39 Assessing the Future: How “Unconventional” Oil and Gas Plays May Contribute to the Kansas Economy ..............................................................................................41 The Mississippian Lime Play .................................................................................................41 The Potential for Infrastructure Strains in Kansas............................................................46 Estimating Potential Economic Impacts in Kansas ..........................................................49 Coalbed Methane in Eastern Kansas ...................................................................................53 Assessing History: How the Oil and Gas Industry Has Contributed to the Kansas Economy ..............................................................................................................................56 A Brief Economic History of Oil and Gas in Kansas .....................................................57 The Upstream Sector and Kansas Gross Domestic Product ..........................................62 The Overall Oil and Gas Value Chain in Kansas ..............................................................66 A Primer on the Kansas Severance Tax (K.S.A 79-4217) ................................................71 A Primer on Kansas Ad Valorem Taxation of Oil and Gas Property ...........................72 Appendix A: ..............................................................................................................................................73 Technical Details of Mississippian Lime Simulation Model and Economic Impact Estimates ..............................................................................................................................73 Appendix B ...............................................................................................................................................75 Supplementary Data Tables .............................................................................................................75 Directory of Exhibits, Charts and Maps ..............................................................................................93 i ii The Kansas Oil and Gas Industry: An Enduring Model of High-Tech Entrepreneurship The oil game is one pioneering activity that has never had a frontier, and until the last porous stratum of rock is explored it never can have one. There would be mirth-provoking irony in a map of the United States showing the boundaries, lateral and horizontal, beyond which dogmatists have at one time or another said oil could not be found—which mental barbed-wire fences have snapped under the irrepressible urge of the . wildcatter’s boundless energy, curiosity, ambition, and skill with a string of tools. — Samuel W. Tait, Jr. 1 The renaissance in United States oil and gas produc- the imagination and ingenuity of the human mind is tion reaffirms the timeless tribute Mr. Tait made to diligently and persistently applied.”3 the nation’s petroleum entrepreneurs almost 70 years The independent oil and gas producers of Kansas have ago. The tools have changed—a lot—but the pioneer demonstrated clear diligence and persistence. They have spirit has not. Boundless entrepreneurial energy and an drilled an average of 2,750 wells per year over the past increasingly sophisticated, high-tech string of tools has 20 years, implying an average investment in the Kansas created a genuine opportunity for the United States to economy of at least $700 million annually (in 2010 become a net energy exporter instead of a net energy dollars). A group of entrepreneurial companies in the importer. Kansas helped deliver the original birth of Mid-Continent have poured decades of imagination and the U.S. oil and gas industry and now the state may help ingenuity into the quest for developing unconventional deliver the industry’s rebirth. oil and gas supplies—the shale-related oil and gas sup- Early in Kansas history, after the first oil and gas booms, plies that have recently captured the public’s attention. people fretted about depleting the state’s oil and gas High-tech entrepreneurship and economics help frame reserves.2 Similar fretting has taken place globally; the the core definitional element of “proved” oil and gas notion of “peak oil” has attracted widespread attention reserves, underscoring Dr. Youngquist’s suggestion since at least the 1950s. These ideas can seem intuitive. that oil and gas supplies are a moving target, a result of The earth is finite. entrepreneurial initiative. The U.S. Energy Informa- Yet, such mindsets inevitably underestimate the power tion Administration defines “proved reserves” as “the of economics and the relentless drive of entrepreneurs. estimated quantities which analysis of geological and Geologist Walter Youngquist captured a more apt per- engineering data demonstrate with reasonable certainty spective in a communication to Dan Merriam, Senior to be recoverable in future years from known reservoirs Scientist Emeritus at the Kansas Geological Society:
Recommended publications
  • The Rise and Decline of Catching up Development an Experience of Russia and Latin America with Implications for Asian ‘Tigers’

    The Rise and Decline of Catching up Development an Experience of Russia and Latin America with Implications for Asian ‘Tigers’

    Victor Krasilshchikov The Rise and Decline of Catching up Development An Experience of Russia and Latin America with Implications for Asian ‘Tigers’ ENTELEQUIA REVISTA INTERDISCIPLINAR The Rise and Decline of Catching up Development An Experience of Russia and Latin America with Implications for Asian `Tigers' by Victor Krasilshchikov Second edition, July 2008 ISBN: Pending Biblioteca Nacional de España Reg. No.: Pending Published by Entelequia. Revista Interdisciplinar (grupo Eumed´net) available at http://www.eumed.net/entelequia/en.lib.php?a=b008 Copyright belongs to its own author, acording to Creative Commons license: Attribution-NonCommercial-NoDerivs 2.5 made up using OpenOffice.org THE RISE AND DECLINE OF CATCHING UP DEVELOPMENT (The Experience of Russia and Latin America with Implications for the Asian ‘Tigers’) 2nd edition By Victor Krasilshchikov About the Author: Victor Krasilshchikov (Krassilchtchikov) was born in Moscow on November 25, 1952. He graduated from the economic faculty of Moscow State University. He obtained the degrees of Ph.D. (1982) and Dr. of Sciences (2002) in economics. He works at the Centre for Development Studies, Institute of World Economy and International Relations (IMEMO), Russian Academy of Sciences. He is convener of the working group “Transformations in the World System – Comparative Studies in Development” of European Association of Development Research and Training Institutes (EADI – www.eadi.org) and author of three books (in Russian) and many articles (in Russian, English, and Spanish). 2008 THE RISE AND DECLINE OF CATCHING UP DEVELOPMENT Entelequia.Revista Interdisciplinar Victor Krasilshchikov / 2 THE RISE AND DECLINE OF CATCHING UP DEVELOPMENT C O N T E N T S Abbreviations 5 Preface and Acknowledgements 7 PART 1.
  • Railroads in Muncie, Indiana Author Michael L. Johnston May 1, 2009

    Railroads in Muncie, Indiana Author Michael L. Johnston May 1, 2009

    Railroads in Muncie 1 Running Head: RAILROADS IN MUNCIE Railroads in Muncie, Indiana Author Michael L. Johnston May 1, 2009 Copyright 2009. M. L. Johnston. All rights reserved. Railroads in Muncie 2 Running Head: Railroads in Muncie Abstract Railroads in Muncie, Indiana explains the evolution of railroads in Muncie, and Delaware County, Indiana. Throughout the history of the United States, the railroad industry has been a prominent contributor to the development and growth of states and communities. Communities that did not have railroads did not develop as competitively until improvements in roads and highways gave them access to an alternative form of transportation. This manuscript provides a brief overview of the history and location of the railroads in Muncie and their importance to the growth of the community. Copyright 2009. M. L. Johnston. All rights reserved. Railroads in Muncie 3 Running Head: Railroads in Muncie Railroads in Muncie, Indiana Evolution of the U.S. Railroad Industry The U.S. railroad industry started around 1810 in the East. After the Civil War, railroad construction was rampant and often unscrupulous. Too many railroad lines were built that were under-capitalized, poorly constructed, and did not have enough current business to survive. Monopolistic and financial abuses, greed and political corruption forced government regulations on the railroads. From 1887 until 1980 the federal Interstate Commerce Commission strictly regulated economics and safety of all railroads operating in the U.S. Until 1980 the various states, also, regulated economics and safety of railroad companies within their individual state boundaries. Railroads are privately owned and the federal government considers them to be common carriers for the benefit of the public.
  • Hoosiers and the American Story Chapter 5

    Hoosiers and the American Story Chapter 5

    Reuben Wells Locomotive The Reuben Wells Locomotive is a fifty-six ton engine named after the Jeffersonville, Indiana, mechanic who designed it in 1868. This was no ordinary locomotive. It was designed to carry train cars up the steepest rail incline in the country at that time—in Madison, Indi- ana. Before the invention of the Reuben Wells, trains had to rely on horses or a cog system to pull them uphill. The cog system fitted a wheel to the center of the train for traction on steep inclines. You can now see the Reuben Wells at the Children’s Museum of Indianapolis. You can also take rides on historic trains that depart from French Lick and Connersville, Indiana. 114 | Hoosiers and the American Story 2033-12 Hoosiers American Story.indd 114 8/29/14 10:59 AM 5 The Age of Industry Comes to Indiana [The] new kind of young men in business downtown . had one supreme theory: that the perfect beauty and happiness of cities and of human life was to be brought about by more factories. — Booth Tarkington, The Magnificent Ambersons (1918) Life changed rapidly for Hoosiers in the decades New kinds of manufacturing also powered growth. after the Civil War. Old ways withered in the new age Before the Civil War most families made their own of industry. As factories sprang up, hopes rose that food, clothing, soap, and shoes. Blacksmith shops and economic growth would make a better life than that small factories produced a few special items, such as known by the pioneer generations.
  • Canada Archives Canada Published Heritage Direction Du Branch Patrimoine De I'edition

    Canada Archives Canada Published Heritage Direction Du Branch Patrimoine De I'edition

    Carleton University Edgard Leuenroth - The Formative Years, 1881-1917: Exploring Anarchist Ideology in Sao Pauio through Critical Biography A thesis submitted to the Faculty of Graduate Studies and Research in partial fulfillment of the requirements for the degree of Master of Arts Institute of Political Economy by Matthew Lymburner Ottawa, Ontario July 2008 © 2008, Matthew Lymburner Library and Bibliotheque et 1*1 Archives Canada Archives Canada Published Heritage Direction du Branch Patrimoine de I'edition 395 Wellington Street 395, rue Wellington Ottawa ON K1A0N4 Ottawa ON K1A0N4 Canada Canada Your file Votre reference ISBN: 978-0-494-43476-5 Our file Notre reference ISBN: 978-0-494-43476-5 NOTICE: AVIS: The author has granted a non­ L'auteur a accorde une licence non exclusive exclusive license allowing Library permettant a la Bibliotheque et Archives and Archives Canada to reproduce, Canada de reproduire, publier, archiver, publish, archive, preserve, conserve, sauvegarder, conserver, transmettre au public communicate to the public by par telecommunication ou par Plntemet, prefer, telecommunication or on the Internet, distribuer et vendre des theses partout dans loan, distribute and sell theses le monde, a des fins commerciales ou autres, worldwide, for commercial or non­ sur support microforme, papier, electronique commercial purposes, in microform, et/ou autres formats. paper, electronic and/or any other formats. The author retains copyright L'auteur conserve la propriete du droit d'auteur ownership and moral rights in et des droits moraux qui protege cette these. this thesis. Neither the thesis Ni la these ni des extraits substantiels de nor substantial extracts from it celle-ci ne doivent etre imprimes ou autrement may be printed or otherwise reproduits sans son autorisation.
  • Pipeline Transportation and Underground

    Pipeline Transportation and Underground

    Docket No. RP16-___-000 Exhibit No. ANR-012 Page 1 of 17 Additions to Capacity on the U.S. Natural Gas Pipeline Network: 2005 This report examines the amount of new natural gas pipeline capacity added to the U.S. natural gas pipeline system during 2005 and the areas of the country where those additions were concentrated. In addition, it discusses and analyzes proposed natural gas pipeline projects that may be developed between 2006 and 2008 and the market factors supporting these initiatives. Questions or comments on the contents of this article should be directed to James Tobin at [email protected] or (202) 586-4835. The addition to natural gas pipeline capacity in 2005 It appears, however, that 2004 and 2005 may be the bottom exceeded that of 2004 (Figure 1) although fewer miles of of a temporary trough in the natural gas pipeline development pipeline were installed (Figure 2). Miles of new natural gas activity cycle. The current inventory of announced or pipeline (1,152) were 21 percent less than in 2004, even approved natural gas pipeline projects indicates that natural though pipeline capacity grew by 8.2 billion cubic feet per gas pipeline capacity additions could increase significantly day (Bcf/d), a 7-percent increase in capacity additions (see between 2006 and 2008 (Figure 1). Several factors are Box, “Capacity Measures,” p. 4). Indeed, less new natural driving this anticipated growth, particularly the expanding gas pipeline mileage was added in 2005 than in any year development of natural gas production in the Fort Worth during the past decade.1 Basin of east Texas and the Piceance/Unita Basins of western Colorado and eastern Utah, and the need for natural gas Figure 1.
  • Panhandle Eastern Pipe Line

    Panhandle Eastern Pipe Line

    Panhandle Eastern Pipe Line 1300 Main St. Houston, TX 77002 Phone: (713) 989-7000 Website: www.energytransfer.com Energy Transfer Partners, a Texas- • Midstream Operations – based energy company founded in 1995 approximately 40,000 miles of natural EMERGENCY CONTACT: as a small intrastate natural gas pipeline gas gathering pipelines and more 1-800-225-3913 company, is now one of the largest than 60 processing, treating and and most diversified master limited conditioning plants. PRODUCTS/DOT GUIDEBOOK ID#/GUIDE#: partnerships in the United States. Natural Gas 1971 115 • NGL Transportation and Services – Strategically positioned in all of approximately 4,800 miles of NGL the major U.S. production basins, MISSOURI pipelines, three processing plants, four the company owns and operates a COUNTIES OF OPERATION: fractionation facilities and NGL storage geographically diverse portfolio of facilities with aggregate working energy assets, including midstream, Audrain Johnson storage capacity of approximately 53 intrastate and interstate transportation Boone Marion million Bbls. and storage assets. Energy Transfer Callaway Moniteau operates more than 90,000 miles of Panhandle Eastern Pipe Line Cass Montgomery natural gas, crude oil, natural gas liquids Company is an approximately 6,000- Cole Pettis and refined products pipelines and mile natural gas pipeline system with Cooper Pike related facilities, including terminalling, access to diverse supply sources and Henry Ralls storage, fractionation, blending and extends from producing areas in the Howard Randolph various acquisition and marketing assets Anadarko Basin of Texas, Oklahoma Jackson in 38 states. and Kansas through Missouri, Illinois, _______________________________________ Changes may occur. Contact the operator to Indiana, Ohio and into Michigan.
  • Transporting Natural Gas

    Transporting Natural Gas

    About U.S. Natural Gas Pipelines – Transporting Natural Gas The U.S. natural gas pipeline network is a highly U.S. Natural Gas Pipeline Network integrated transmission and distribution grid that can transport natural gas to and from nearly any location in the lower 48 States. The natural gas pipeline grid comprises: • More than 210 natural gas pipeline systems. • 300,000 miles of interstate and intrastate transmission pipelines (see mileage table). • More than 1,400 compressor stations that maintain pressure on the natural gas pipeline network and assure continuous forward movement of supplies (see map). • More than 11,000 delivery points, 5,000 click to enlarge receipt points, and 1,400 interconnection See Appendix A: Combined ‘Natural Gas points that provide for the transfer of natural Transportation’ maps gas throughout the United States. • 29 hubs or market centers that provide See Appendix B: Tables additional interconnections (see map). • 394 underground natural gas storage facilities (see map). Geographic Coverage of Pipeline Companies • 55 locations where natural gas can be United States - links to companies listed A-Z with U.S. map imported/exported via pipelines (see map). showing regional breakout detail • 5 LNG (liquefied natural gas) import facilities and 100 LNG peaking facilities. Northeast - CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VA, VT, WV Learn more about the natural gas Midwest - IL, IN, MI, MN, OH, WI Southeast - AL, FL, GA, KY, MS, NC, SC, TN pipeline network: Southwest - AR, LA, NM, OK, TX Central - CO, IA, KS,
  • National Register of Historic Places Registration Form (National Register Bulletin 16A)

    National Register of Historic Places Registration Form (National Register Bulletin 16A)

    NPS Form 10-900 OMB No. 10024-0018 (Oct. 1990) United States Depar^rjiej^of thehlterior RECEIVED 2280 National ervce 2'?$' National Register of Historic Places FEB,| Registration Form This form is for use in nominating or requesting determinations for individual properties and districts. See instructions in How to Complete the National Register of Historic Places Registration Form (National Register Bulletin 16A). Complete each item by marking "x" in the appropriate box or by entering the information requested. If an item does not apply to the property being documented, enter "N/A" for "not applicable." For functions, architectural classification, materials, and areas of significance, enter only categories and subcategories from the instructions. Place additional entries and narrative items on continuation sheets (NPS Form 10-900a). Use a typewriter, word processor, or computer, to complete all items. 1. Name of Property historic name Fairmonnf Commercial Historic District other names/site number 2. Location street& number See Continuation Sheet N/A p not for publication City Or town Fairmnnnt_________ .N/A D vicinity State Indiana_______ Code TN COUnty Grant code zip code 46Q2R 3. State/Federal Agency Certification As the designated authority under the National Historic Preservation Act, as amended, I hereby certify that this H nomination D request for determination of eligibility meets the documentation standards for registering properties in the National Register of Historic Places and meets the procedural and professional requirements set forth in 36CFR Part 60. In my opinion, the property B meets d does not meet the National Register criteria. I recommend that this property be considered significant D nationally D statewide locally.

  • Footprints Feb 2016; Volume 5 Issue 1(Pdf 3MB)

    Footprints A publication of the Howard County Historical Society Volume 5, Issue 1 February 2016 100 years ago In 1916 The Howard County Historical Society was born Seiberling resident Cora Miller was peddling home remedies to ladies The roof of the mansion was already 25 years old From the executive director Fostering a flourishing community ’ve heard it said that the most dangerous gy were shuttered. The Great Depression was words in the English language are “we’ve no less tragic here than anywhere else. And I always done it that way.” Maybe not as we’ve repeatedly experienced the vicissitudes dangerous as “it’s not loaded” or “I double-dog of both the auto industry and agriculture. dare you,” but the point is well-taken. Do We didn’t survive by doing the same old what’s right and what works – even if it isn’t thing. Our story is one of persistence and inno- what has always been done. vation and of the people who chose to not give History is full of failures brought about by un- in. willingness to change. Some of the early settle- The job of the historical society is to preserve ments in the Americas fell apart because the the stories of those people and help us all colonists wanted to live the way they had lived learn from their choices both good and bad. in Europe and couldn’t accept the fact that their The biggest lesson is the importance of peo- old lifestyle was a death sentence in the New ple, and the best things we can do to ensure World.
  • Senior Seminar on the Wealth and Well-Being Of

    Senior Seminar on the Wealth and Well-Being Of

    Senior Seminar on The Wealth and Well-Being of Nations: Each year, seniors in the department of economics participate in a semester-long course that is built around the ideas and influence of that year’s Upton Scholar. By the time the Upton Scholar arrives in October, students will have read several of his or her books and research by other scholars that has been influenced by these writings. This advanced preparation provides students the rare opportunity to engage with a leading intellectual figure on a substantive and scholarly level. Endowed Student Internship Awards: A portion of the Miller Upton Memorial Endowments supports exceptional students pursuing high-impact internship experiences. Students are encouraged to pursue internships with for-profit firms and non-profit research organizations dedicated to advancing the wealth and well-being of nations. Charles G. Koch Student Research Colloquium and Speaker Series: With generous support from the Charles G. Koch Charitable Foundation, the department has initiated a research colloquium that gives students the opportunity to read and discuss seminal articles aimed at deepening their understanding of the market process. Students also develop original analysis that applies economic ideas to novel contexts. Colloquium participants receive close mentoring as they craft an article with the eventual goal of publication in a newspaper, magazine, or academic journal. The themes of the research colloquium and annual forum are supported with a speaker series featuring the next generation of scholars working on questions central to our understanding of the nature and causes of wealth and well-being. Annual Proceedings of The Wealth and Well-Being of Nations: The keynote address presented by the Upton Scholar is an important contribution to the public discourse on the nature and causes of wealth and well-being.
  • Panhandle Eastern Pipe Line Company

    Panhandle Eastern Pipe Line Company

    Panhandle Eastern Pipe Line Company 1300 Main St. Houston, TX 77002 Phone: (713) 989-7000 Website: www.energytransfer.com Energy Transfer Partners, a Texas-based • Interstate Transportation and Storage energy company founded in 1995 as a Operations – approximately 19,000 EMERGENCY CONTACT: small intrastate natural gas pipeline miles of natural gas pipelines; 10,770 1-800-225-3913 company, is now one of the largest miles of crude oil pipelines; and 2,200 and most diversified master limited miles of refined products pipelines PRODUCTS/DOT GUIDEBOOK ID#/GUIDE#: partnerships in the United States. along with 40 refined products Natural Gas 1971 115 marketing terminals. Strategically positioned in all of the major MICHIGAN U.S. production basins, the company • Midstream Operations – approximately COUNTIES OF OPERATION: owns and operates a geographically 40,000 miles of natural gas gathering diverse portfolio of energy assets, pipelines and more than 60 processing, Calhoun Livingston including midstream, intrastate and treating and conditioning plants. Jackson Monroe interstate transportation and storage • NGL Transportation and Services – Kalamazoo Washtenaw assets. Energy Transfer operates more approximately 4,800 miles of NGL Lenawee Wayne than 90,000 miles of natural gas, crude oil, pipelines, three processing plants, four _______________________________________ natural gas liquids and refined products Changes may occur. Contact the operator to fractionation facilities and NGL storage pipelines and related facilities, including discuss their
  • United States Securities and Exchange Commission Form 10-K Panhandle Eastern Pipe Line Company, Lp

    United States Securities and Exchange Commission Form 10-K Panhandle Eastern Pipe Line Company, Lp

    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2017 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-2921 PANHANDLE EASTERN PIPE LINE COMPANY, LP (Exact name of registrant as specified in its charter) Delaware 44-0382470 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 8111 Westchester Drive, Suite 600, Dallas, Texas 75225 (Address of principle executive offices) (zip code) (214) 981-0700 (Registrant’s telephone number, including area code) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).