TRANSACTIONS WITH RELATED PARTIES

9 Months Ended

Sep. 30, 2014

Related Party Transactions [Abstract]

TRANSACTIONS WITH RELATED PARTIES

TRANSACTIONS WITH RELATED PARTIES

Prior to the Transaction, Energen allocated certain corporate costs to the Company based on the nature of the expense using various factors including, but not limited to, total assets, earnings, or number of employees. The Company’s cash management program was established to minimize borrowing from outside sources through inter-company lending. Under this program, the Company borrowed from but did not lend to affiliates. The Company had net trade receivables from affiliates of $0.0 and $4.7 at September 30, 2014 and December 31, 2013, respectively. The Company had net trade payables to affiliates of $0.4 and $0.0 at September 30, 2014 and December 31, 2013, respectively. Interest income and expense between affiliates was calculated monthly based on the market weighted average interest rate. The Company had $0.0, $0.0 and $0.3 in affiliated company interest expense during the transition period ended September 30, 2014 and the calendar years ended December 31, 2013 and 2012, respectively. The Company paid dividends to Energen of $32.4, $33.3 and $33.6 during the transition period ended September 30, 2014 and the calendar years ended December 31, 2013 and 2012, respectively. The Company also paid dividends to Laclede of $5.0 in the transition period ended September 30, 2014.