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Previous: SFX ENTERTAINMENT INC, 425, 2000-02-29 |
Next: SCHRODER SERIES TRUST II, 485BPOS, 2000-02-29 |
<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-3A-2
FILE NO. 0-29604
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM
THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
To Be Filed Annually Prior to March 1
ENERGYSOUTH, INC.
(Name of Company)
hereby files with the Securities and Exchange Commission (the Commission),
pursuant to Rule 2, its statement claiming exemption as a holding company from
the provisions of the Public Utility Holding Company Act of 1935 (the "Act"),
and submits the following information:
1. The Claimant ENERGYSOUTH, INC., an Alabama corporation, is a holding
company which directly or indirectly holds interests in the following
subsidiaries, each of which is also organized under the laws of the State
of Alabama:
a. Mobile Gas Service Corporation ("Mobile Gas"), a natural gas
distribution company;
b. MGS Storage Services, Inc., which owns an 871/2% general partnership
interest in Bay Gas Storage Company, Ltd.;
c. Bay Gas Storage Company, Ltd. ("Bay Gas"), a limited partnership
engaged in the business of underground natural gas storage;
d. EnergySouth Services, Inc., which is engaged in the business of
providing contract and consulting work for utilities and industrial
customers and which owns a 51% interest in Southern Gas Transmission
Company;
e. Southern Gas Transmission Company ("SGT"), a general partnership which
operates a gas pipeline; and
f. MGS Marketing Services, Inc., which was incorporated to assist
existing and potential customers of Mobile Gas in the purchase of
natural gas.
<PAGE> 2
The business address of the Claimant and each of its subsidiaries is:
2828 Dauphin Street
Mobile, Alabama 36606
2. Mobile Gas is a "gas utility company" under the provisions of Section
2(a)(4) of the Act and is regulated by the Alabama Public Service
Commission. The properties of Mobile Gas consist primarily of natural gas
distribution systems, including mains, services, meters and regulating
equipment, serving communities in southwest Alabama, including the City of
Mobile and adjacent areas, all of which is located in Mobile County,
Alabama. Mobile Gas owns office buildings and other miscellaneous equipment
and property, all of which is located in Mobile County, Alabama.
The properties of Bay Gas consist of an underground gas storage cavern
located in McIntosh, Alabama and related compression, dehydration and
pipeline facilities, all located primarily in Washington County, Alabama.
The properties of SGT consist of a 50-mile natural gas pipeline from
Claiborne, Alabama to near Flomaton, Alabama, all located primarily in
Monroe County, Alabama.
Neither Claimant nor any of its subsidiaries other than Mobile Gas is a
"gas utility company" under the provisions of Section 2(a)(4) of the Act.
3. The following is information for the last calendar year with respect to
Claimant and its subsidiary public utility company, Mobile Gas:
a. Mcf of natural or manufactured gas distributed at retail: 6,230,859
Mcf, all of which was distributed within the state of Alabama.
Mcf of natural or manufactured gas transported on behalf of end users:
33,610,324 Mcf, all of which was transported within the state of
Alabama.
b. Mcf of natural or manufactured gas distributed at retail outside the
State in which each such company is organized: None
c. Mcf of natural or manufactured gas sold at wholesale outside the State
in which such company is organized or at the State line: None
d. Mcf of natural or manufactured gas purchased outside the State in
which each such company is organized or at the State line: 1,175,400
Mcf purchased from Louisiana; 421,283 Mcf purchased from Texas.
4. The Claimant does not hold directly or indirectly any interest in an EWG or
a foreign utility company.
2
<PAGE> 3
EXHIBIT A. A consolidating statement of income and retained earnings of the
Claimant and its subsidiary companies for the calendar year ended December 31,
1999, together with a consolidating balance sheet of Claimant and its subsidiary
companies as of the close of such calendar year is attached hereto as Exhibit A
and made a part hereof.
EXHIBIT B. A Financial Data Schedule is attached hereto as Exhibit B, including
the financial and other data required to be set forth therein pursuant to the
requirements of this Exhibit B to Form U-3A-2.
EXHIBIT C. Not Applicable.
The above-named Claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this 29th day of February, 1999.
ENERGYSOUTH, INC.
(Name of Claimant)
BY /s/ Charles P. Huffman
---------------------------------------------
Charles P. Huffman
Its Chief Financial Officer and Treasurer
CORPORATE SEAL
ATTEST:
By /s/ G. Edgar Downing
-------------------------
G. Edgar Downing, Jr.
Its Secretary
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Charles P. Huffman
Chief Financial Officer and Treasurer
2828 Dauphin Street
Mobile, Alabama 36606
3
<PAGE> 4
ENERGYSOUTH, INC.
CONSOLIDATING BALANCE SHEET
AT DECEMBER 31, 1999
(UNAUDITED)
(DOLLARS IN THOUSANDS)
EXHIBIT A
<TABLE>
<CAPTION>
SOUTHERN GAS
ACCOUNT DESCRIPTION ENERGYSOUTH MOBILE GAS MGS ENERGY TRANSMISSION MGS STORAGE
----------- ---------- ---------- ------------ ----------
<S> <C> <C> <C> <C> <C>
Assets
Current Assets:
Cash and Cash Equivalents $ 1,337 $ (1,347) $ 353 $ 9 $ 40
Receivables:
Gas 6,777 368
Unbilled Revenue 4,064
Merchandise 3,048
Other 5,593 4,321 8 1,692
Dividend
Less Allowance for Doubtful Accounts (812)
Materials, Supplies, and Mdse (at
average cost) 1,539
Gas Stored Underground (at average cost) 966
Deferred Income Taxes 1,719
Prepayments 1,657 --
---------- ---------- ---------- ---------- ----------
Total Current Assets 6,930 21,932 361 377 1,732
---------- ---------- ---------- ---------- ----------
Property, Plant & Equipment:
Property, Plant & Equipment -- 137,073 36 3,485 --
Less Accumulated Depreciation and
Amortization 45,725 4 677
---------- ---------- ---------- ---------- ----------
Property, Plant & Equipment - Net -- 91,348 32 2,808 --
Construction Work in Progress 1,347
---------- ---------- ---------- ---------- ----------
Total Property, Plant & Equipment -- 92,695 32 2,808 --
---------- ---------- ---------- ---------- ----------
Other Assets:
Investment in Mobile Gas Service
Corporation 63,486 --
Investment in MGS Energy Services, Inc. 1,502 --
Investment in MGS Storage Services, Inc. 13,867
Investment in MGS Marketing Services, Inc. 74 --
Investment in Partnerships -- 1,572 15,767
Regulatory Assets 611
Merchandise Receivables Due After One Year 5,662
Deferred Charges 432 2 --
---------- ---------- ---------- ---------- ----------
Total Other Assets 65,062 20,572 1,574 -- 15,767
---------- ---------- ---------- ---------- ----------
Total Assets $ 71,992 $ 135,199 $ 1,967 $ 3,185 $ 17,499
========== ========== ========== ========== ==========
<CAPTION>
BAY GAS CONSOLIDATED
ACCOUNT DESCRIPTION STORAGE MGS MARKETING TOTAL ELIMINATION TOTAL
---------- ------------- ---------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Assets
Current Assets:
Cash and Cash Equivalents $ 4,316 $ 243 $ 4,951 $ 4,951
Receivables:
Gas 277 364 7,786 7,786
Unbilled Revenue 4,064 4,064
Merchandise 3,048 3,048
Other 378 11,992 (11,255) 737
Dividend -- --
Less Allowance for Doubtful Accounts (812) (812)
Materials, Supplies, and Mdse (at
average cost) 1,539 1,539
Gas Stored Underground (at average cost) 966 966
Deferred Income Taxes 1,719 1,719
Prepayments 112 1,769 1,769
---------- ---------- ---------- ---------- ----------
Total Current Assets 5,083 607 37,022 (11,255) 25,767
---------- ---------- ---------- ---------- ----------
Property, Plant & Equipment:
Property, Plant & Equipment 37,727 -- 178,321 -- 178,321
Less Accumulated Depreciation and
Amortization 4,648 51,054 51,054
---------- ---------- ---------- ---------- ----------
Property, Plant & Equipment - Net 33,079 -- 127,267 -- 127,267
Construction Work in Progress 1,146 2,493 2,493
---------- ---------- ---------- ---------- ----------
Total Property, Plant & Equipment 34,225 -- 129,760 -- 129,760
---------- ---------- ---------- ---------- ----------
Other Assets:
Investment in Mobile Gas Service
Corporation 63,486 (63,486) --
Investment in MGS Energy Services, Inc. 1,502 (1,502) --
Investment in MGS Storage Services, Inc. 13,867 (13,867) --
Investment in MGS Marketing Services, Inc. 74 (74) --
Investment in Partnerships 17,339 (17,339) --
Regulatory Assets 611 611
Merchandise Receivables Due After One Year 5,662 5,662
Deferred Charges 847 1,281 1,281
---------- ---------- ---------- ---------- ----------
Total Other Assets 847 -- 103,822 (96,268) 7,554
---------- ---------- ---------- ---------- ----------
Total Assets $ 40,155 $ 607 $ 270,604 $ (107,523) $ 163,081
========== ========== ========== ========== ==========
</TABLE>
<PAGE> 5
ENERGYSOUTH, INC.
CONSOLIDATING BALANCE SHEET
AT DECEMBER 31, 1999
(UNAUDITED)
(DOLLARS IN THOUSANDS)
EXHIBIT A
<TABLE>
<CAPTION>
SOUTHERN GAS
ACCOUNT DESCRIPTION ENERGYSOUTH MOBILE GAS MGS ENERGY TRANSMISSION MGS STORAGE
----------- ---------- ---------- ------------ ----------
<S> <C> <C> <C> <C> <C>
Capitalization and Liabilities
Current Liabilities:
Current Maturities of Long-Term Debt $ -- $ 1,884 $ -- $ -- $ --
Notes Payable 4,130 -- -- 80 8
Accounts Payable 379 10,611 145 13 230
Dividends Declared 1,152 --
Customer Deposits 1,420
Taxes Accrued 86 3,816 77 10 177
Interest Accrued 27 1,328
Deferred Purchased Gas Adjustment 1,395
Other Liabilities 149 2,179
---------- ---------- ---------- ---------- ----------
Total Current Liabilities 5,923 22,633 222 103 415
---------- ---------- ---------- ---------- ----------
Other Liabilities:
Other Liabilities 478
Accrued Pension Cost 1,076
Accrued Postretirement Benefit Cost 1,093
Deferred Income Taxes (205) 8,927 242 3,217
Deferred Investment Tax Credits 386 -- --
---------- ---------- ---------- ---------- ----------
Total Other Liabilities 273 11,482 242 -- 3,217
---------- ---------- ---------- ---------- ----------
Total Liabilities 6,196 34,115 464 103 3,632
---------- ---------- ---------- ---------- ----------
Capitalization:
Stockholders' Equity 49 -- 1 -- --
Capital in Excess of Par Value 18,661 17,965 10,490
Partner's Capital 785
Retained Earnings 47,086 45,522 1,502 2,297 3,377
---------- ---------- ---------- ---------- ----------
Total Stockholders' Equity 65,796 63,487 1,503 3,082 13,867
Minority Interest
Long-Term Debt (Less Current Maturities) 37,597 --
---------- ---------- ---------- ---------- ----------
Total Capitalization 65,796 101,084 1,503 3,082 13,867
---------- ---------- ---------- ---------- ----------
Total Capitalization and Liabilities $ 71,992 $ 135,199 $ 1,967 $ 3,185 $ 17,499
========== ========== ========== ========== ==========
<CAPTION>
BAY GAS CONSOLIDATED
ACCOUNT DESCRIPTION STORAGE MGS MARKETING TOTAL ELIMINATION TOTAL
---------- ------------- ---------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Capitalization and Liabilities
Current Liabilities:
Current Maturities of Long-Term Debt $ 862 $ -- $ 2,746 $ -- $ 2,746
Notes Payable 2,650 6,868 (2,738) 4,130
Accounts Payable 157 506 12,041 (8,516) 3,525
Dividends Declared 1,152 1,152
Customer Deposits 1,420 1,420
Taxes Accrued 94 27 4,287 4,287
Interest Accrued 130 1,485 1,485
Deferred Purchased Gas Adjustment 1,395 1,395
Other Liabilities 4 2,332 2,332
---------- ---------- ---------- ---------- ----------
Total Current Liabilities 3,897 533 33,726 (11,254) 22,472
---------- ---------- ---------- ---------- ----------
Other Liabilities:
Other Liabilities 478 478
Accrued Pension Cost 1,076 1,076
Accrued Postretirement Benefit Cost 1,093 1,093
Deferred Income Taxes 12,181 12,181
Deferred Investment Tax Credits 386 386
---------- ---------- ---------- ---------- ----------
Total Other Liabilities -- -- 15,214 -- 15,214
---------- ---------- ---------- ---------- ----------
Total Liabilities 3,897 533 48,940 (11,254) 37,686
---------- ---------- ---------- ---------- ----------
Capitalization:
Stockholders' Equity -- -- 50 (1) 49
Capital in Excess of Par Value 47,116 (28,455) 18,661
Partner's Capital 11,995 12,780 (12,780) --
Retained Earnings 6,024 74 105,882 (58,796) 47,086
---------- ---------- ---------- ---------- ----------
Total Stockholders' Equity 18,019 74 165,828 (100,032) 65,796
Minority Interest 3,763 3,763
Long-Term Debt (Less Current Maturities) 18,239 55,836 55,836
---------- ---------- ---------- ---------- ----------
Total Capitalization 36,258 74 221,664 (96,269) 125,395
---------- ---------- ---------- ---------- ----------
Total Capitalization and Liabilities $ 40,155 $ 607 $ 270,604 $ (107,523) $ 163,081
========== ========== ========== ========== ==========
</TABLE>
<PAGE> 6
ENERGYSOUTH, INC.
CONSOLIDATING INCOME STATEMENT
AND STATEMENT OF RETAINED EARNINGS
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 1999
(UNAUDITED)
(DOLLARS IN THOUSANDS)
EXHIBIT A
<TABLE>
<CAPTION>
SOUTHERN GAS
ACCOUNT DESCRIPTION ENERGYSOUTH MOBILE GAS MGS ENERGY TRANSMISSION MGS STORAGE
----------- ---------- ---------- ------------ ----------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas Revenues $ -- $ 62,127 $ -- $ 841 $ --
Merchandise Sales 2,841 --
Other 575 1,207 42
---------- ---------- ---------- ---------- ----------
Total Operating Revenues 575 66,175 42 841 --
---------- ---------- ---------- ---------- ----------
Operating Expenses
Cost of Gas 21,562
Cost of Merchandise 2,241
Operations 574 16,227 84 225
Maintenance 1,603 18
Depreciation 5,382 4 97
Taxes, Other Than Income Taxes 5,047 4 24 --
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 574 52,062 92 364 --
---------- ---------- ---------- ---------- ----------
Operating Income 1 14,113 (50) 477 --
---------- ---------- ---------- ---------- ----------
Other Income and (Expense)
Interest Expense (37) (3,491) (4) (3) (43)
Allowance for Borrowed Funds Used
During Construction 76
Interest Income 36 330 3 10 25
Income From Subsidiaries/Partnerships 8,454 1,434 484 2,334
Less Minority Interest (237) -- (292)
---------- ---------- ---------- ---------- ----------
Total Other Income (Expense) 8,453 (1,651) 246 7 2,024
---------- ---------- ---------- ---------- ----------
Income Before Income Taxes 8,454 12,462 196 484 2,024
---------- ---------- ---------- ---------- ----------
Income Taxes 4,179 71 -- 623
---------- ---------- ---------- ---------- ----------
Income Before Cumulative Effect of
Changes in Accounting Principles 8,454 $ 8,283 $ 125 $ 484 $ 1,401
Cumulative Effect on Prior Years of
Change in Accounting Method For
Unbilled Revenue (Net of Income Tax) -- -- -- --
Cumulative Effect on Prior Years of
Change in Accounting Method For
Start-Up Costs (Net of Income Tax) -- -- -- 32
---------- ---------- ---------- ---------- ----------
Total Cumulative Effect of Accounting Changes
(Net of Income Tax) -- -- -- -- 32
---------- ---------- ---------- ---------- ----------
Net Income 8,454 8,283 125 484 1,433
Retained Earnings at December 31, 1998 43,156 41,639 1,377 2,193 1,944
Merger/Acquisition of Subsidiaries
Dividends Paid/Capital Distributions (4,524) (4,400) -- (380)
---------- ---------- ---------- ---------- ----------
Retained Earnings at December 31, 1999 $ 47,086 $ 45,522 $ 1,502 $ 2,297 $ 3,377
========== ========== ========== ========== ==========
<CAPTION>
BAY GAS CONSOLIDATED
ACCOUNT DESCRIPTION STORAGE MGS MARKETING TOTAL ELIMINATION TOTAL
---------- ------------- ---------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Operating Revenues
Gas Revenues $ 6,111 $ -- $ 69,079 $ (4,135) $ 64,944
Merchandise Sales 2,841 2,841
Other 73 1,897 (575) 1,322
---------- ---------- ---------- ---------- ----------
Total Operating Revenues 6,111 73 73,817 (4,710) 69,107
---------- ---------- ---------- ---------- ----------
Operating Expenses
Cost of Gas -- 21,562 (4,135) 17,427
Cost of Merchandise 2,241 2,241
Operations 790 -- 17,900 (575) 17,325
Maintenance 90 1,711 1,711
Depreciation 1,032 6,515 6,515
Taxes, Other Than Income Taxes 333 -- 5,408 5,408
---------- ---------- ---------- ---------- ----------
Total Operating Expenses 2,245 -- 55,337 (4,710) 50,627
---------- ---------- ---------- ---------- ----------
Operating Income 3,866 73 18,480 -- 18,480
---------- ---------- ---------- ---------- ----------
Other Income and (Expense)
Interest Expense (1,766) -- (5,344) 217 (5,127)
Allowance for Borrowed Funds Used
During Construction 76 76
Interest Income 235 -- 639 (217) 422
Income From Subsidiaries/Partnerships 12,706 (12,706) --
Less Minority Interest -- (529) -- (529)
---------- ---------- ---------- ---------- ----------
Total Other Income (Expense) (1,531) -- 7,548 (12,706) (5,158)
---------- ---------- ---------- ---------- ----------
Income Before Income Taxes 2,335 73 26,028 (12,706) 13,322
---------- ---------- ---------- ---------- ----------
Income Taxes -- 27 4,900 -- 4,900
---------- ---------- ---------- ---------- ----------
Income Before Cumulative Effect of
Changes in Accounting Principles $ 2,335 $ 46 $ 21,128 $ (12,706) $ 8,422
Cumulative Effect on Prior Years of
Change in Accounting Method For
Unbilled Revenue (Net of Income Tax) -- -- -- --
Cumulative Effect on Prior Years of
Change in Accounting Method For
Start-Up Costs (Net of Income Tax)
57 -- 89 (57) 32
---------- ---------- ---------- ---------- ----------
Total Cumulative Effect of Accounting Changes
(Net of Income Tax) 57 -- 89 (57) 32
---------- ---------- ---------- ---------- ----------
Net Income 2,392 46 21,217 (12,763) 8,454
Retained Earnings at December 31, 1998 3,632 28 93,969 (50,813) 43,156
Merger/Acquisition of Subsidiaries -- --
Dividends Paid/Capital Distributions (9,304) 4,780 (4,524)
---------- ---------- ---------- ---------- ----------
Retained Earnings at December 31, 1999 $ 6,024 $ 74 $ 105,882 $ (58,796) $ 47,086
========== ========== ========== ========== ==========
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 163,081
<TOTAL-OPERATING-REVENUES> 69,107
<NET-INCOME> 8,454
</TABLE>
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