Comments of Jeff Francis re the Atlantic Coast Pipeline under CP15-554.

20050416-1837 FERC PDF (Unofficial) 01/29/2013 20050416-1837 FERC PDF (Unofficial) 01/29/2013 UNITED GAS PIPE LINE COMPANY A United Energy Resources Company Consolidated Financial Statements December 31, 1978 20050416-1837 FERC PDF (Unofficial) 01/29/2013 UNITED GAS PIPE LINE COMPANY lA subsidiary of United Energy Resources, inc. ) incorporated under the Laus of the State of Deictcare General Olfices 700 Miiam, P. O. Bcx 1478 Houston, Texas 77001 BOARD OF DIRECTORS Chairman J. Hugh RolI, Jr. Chief Executive Ofhcer George E. Ashley John C. Nelson John F. Brown Doyle W. Cotton, Jr. William J. Ross William B. Cassin Gerald D. Hines Fred W. Wenzel James C. Cooper John P. Laborde F. Randolph Yost OFFICERS President John F. Brown Chief Operating Officer Senior Vice Presidents B. M. Byrd J. E. Haynes D. Lamar Smith Controller Marketing Gas Supply J. B. Clopton C. W. Hollenshead M. P. Watson Special Projects Operations tr Engineedcg Personnel Vice Presidents J. R. Angell H. H. Jordan R. J. Simmons, Jr. Governmental Affairs Management Systecu Engineering T. L. Aubin, Jr. W. R. Peal J. R. Templeton Gas Supply Administration Sales Gas Acquisitions J. H. Echterho6 C. F. Red J. R. Walker Operations Planning tr Rates Administration Treasurer P. P. Stagg Secretary J. E. Du Bois Auditors ARTHUR ANDERSEN dt CO. The financial statements contained herein are given as a matter of general information and are not intended to induce, or to be used in connection with, any sale or purchase of securities. 20050416-1837 FERC PDF (Unofficial) 01/29/2013 AUDITORS'EPORT To the Board of Directors, United Gas Pipe Line Company: W'e have examined the consolidated balance sheet of United Gas Pipe Line Company (a Delaware corporation and a svholly owned subsidiary of United Energy Resources, Inc.) and its subsidiaries as of December 31, 1978 and 1977, and the related consolidated statements of income, shareholder's equity and changes in financial position for the years then ended. Our examinations were made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. We did not examine the financial statements of Sea Robin Pipeline Company (Sea Robin), a fifty-percent- owned joint venture which is reflected in the accompanying financial statements using the equity method of accounting. Earnings of Sea Robin comprise approximately 8% and 9% of the consolidated net income for the years ended December 31, 1978 and 1977, respectively. The financial statements of Sea Robin were examined by other auditors whose report thereon has been furnished ...