UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________
FORM 8-K
_____________________________
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 2, 2019
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Commission
File Number
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Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number
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IRS Employer
Identification No.
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1-11607
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DTE Energy Company
(a Michigan corporation)
One Energy Plaza
Detroit, Michigan 48226-1279
313-235-4000
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38-3217752
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under Exchange Act (17 CFR 240.12b-2).
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of Exchange on which Registered
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Common stock, without par value
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DTE
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New York Stock Exchange
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2012 Series C 5.25% Junior Subordinated Debentures due 2062
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DTQ
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New York Stock Exchange
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2016 Series B 5.375% Junior Subordinated Debentures due 2076
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DTJ
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New York Stock Exchange
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2016 Series F 6.00% Junior Subordinated Debentures due 2076
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DTY
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New York Stock Exchange
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2017 Series E 5.25% Junior Subordinated Debentures due 2077
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DTW
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New York Stock Exchange
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6.50% Corporate Units
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DTV
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New York Stock Exchange
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Item 8.01. Other Events.
On May 2, 2019,
DTE Midstream, a non-utility business unit of DTE Energy Company ("DTE Energy"), announced the execution of a binding letter agreement with WGL Midstream, Inc. (a subsidiary of AltaGas Ltd.) to acquire 30 percent of Stonewall Gas Gathering (“SGG”) for approximately $275.3 million. DTE Midstream currently operates and holds a 55 percent ownership interest in SGG, a natural gas gathering system located in West Virginia. The acquisition of WGL Midstream, Inc.’s 30 percent interest will bring DTE Midstream’s ownership interest in the asset to 85 percent.
Completion of the acquisition is subject to various customary conditions and the execution of a definitive agreement following the satisfaction of certain third party rights and related notice and election periods. A copy of the press release announcing the execution of the letter agreement is attached as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 2, 2019
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DTE Energy Company
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(Registrant)
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/s/Peter B. Oleksiak
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Peter B. Oleksiak
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Senior Vice President and Chief Financial Officer
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DTE Midstream announces acquisition of 30 percent of Stonewall Gas Gathering
DETROIT, May 2, 2019
- DTE Midstream, a non-utility business unit of DTE Energy (NYSE: DTE), today announced the execution of a binding letter agreement with WGL Midstream, Inc. (a subsidiary of AltaGas Ltd.) to acquire 30 percent of Stonewall Gas Gathering (“SGG”) for approximately $275.3 million. DTE Midstream currently operates and holds a 55 percent ownership interest in SGG. The acquisition of WGL Midstream, Inc.’s 30 percent interest will bring DTE Midstream’s ownership interest in the asset to 85 percent. Completion of the acquisition is subject to various customary conditions and the execution of a definitive agreement following the satisfaction of certain third party rights and related notice and election periods.
DTE Midstream has been operating SGG for nearly three years, and the acquisition positions the company for continued success - it complements the existing DTE Midstream business and provides a platform for new growth opportunities.
Stonewall Gas Gathering is an approximately 67-mile, 36-inch natural gas gathering system located in West Virginia.
“Expanding our ownership in SGG has strong strategic rationale. SGG complements our existing midstream business and provides a platform for continued value creation supported by a solid underlying resource,” said David Slater, president of DTE Midstream.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeastern Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects, renewable natural gas, natural gas pipelines, gathering and storage, and energy marketing and trading. As an environmental leader, DTE will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce
cleaner energy
while keeping it safe, reliable and affordable. DTE is committed to being a
force for good
in the communities where it serves through volunteerism, education and employment initiatives,
philanthropy
and economic progress
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Information about DTE is available at
dteenergy.com
,
empoweringmichigan.com
,
twitter.com/dte_energy
and
facebook.com
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For further information: Jill Wilmot, DTE Energy, 313.235.5555