(FERC), pursuant to Sections 306 and 402 of the Department of Energy Organization Act, 42 U.S.C. §§ 7155 and 7172, and Executive Order No. 12009, 42 Fed. Reg. 46267 (September 15, 1977).

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to ascertaining valuations pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorities.

Introductory. Powder River Corporation, hereinafter called the carrier, was incorporated March 9, 1971 under the general corporation law of the State of Delaware. The carrier's corporate office is located at Dover, Delaware, and its general office at Bartlesville, Oklahoma. The carrier is controlled through ownership of the outstanding capital stock by Phillips Petroleum Company and First National City Bank of New York, acting as trustee for Phillips Petroleum Company Retirement Income Plan. The records do not indicate that the carrier, itself, controls any common carrier corporation.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the carrier's basic valuation report as of December 31, 1972.

Location and general description of property and operations. - The carrier owns trunk pipelines in the States of Colorado, Oklahoma, Texas, and Wyoming which are used for the transportation of raw natural gas liquids. The main trunk pipeline originates in Wyoming where the raw natural gas liquids are received into its system in Campbell and Converse counties. In general, the pipeline extends in a southerly direction through Colorado and Oklahoma to Borger, Texas. The mileage of the lines owned and used by the carrier during the year 1977 aggregate 679.302 miles of main line.

During the year 1977, the carrier received into its system 5,548,918 and delivered out 5,553,105 barrels of raw natural gas liquids.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $7,343 and $328,012, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Valuation Report 1, for a tatement of the methods employed and the reasons or the differences between the various cost values eported.

In computing a single sum value, the Commision places primary emphasis on two elements of ost, namely cost of reproduction new and original ost to date. These two elements are weighted ogether based on each one's percentage to the sum f the two. The weighted figure is then depreciated O reflect the value of the property in its present ondition by applying a condition percent factor erived from a ratio of cost of reproduction new less epreciation value to the cost of reproduction new alue. The resultant depreciated value is increased 6 percent to reflect an amount for going concern. o this increased value an amount is added for the

present value of land, rights-of-way and working capital. This final figure is the total single sum value of the carrier's properties that are used and useful for common carrier purposes.

The details respecting the figures here reported are on file in the valuation records of the Commission. These details are referred to for greater particularity as to the matters herein stated. The Board finds:

1. After careful consideration of all facts herein contained, including appreciation, depreciation, going-concern value, and all other matters which appear to have a bearing upon the values here reported, the value, pursuant to Section 19a of the Interstate Commerce Act, as of December 31, 1977, of the property owned and used by the carrier for common carrier purposes is $11,848,300.

2. No other values or elements of value to which specific sums can now be ascribed are found to exist.

[162,1517

The Board orders:

1. The property owned and used by the carrier as of December 31, 1977, is hereby valued at $11,848,300. On or before 30 days from the date of service of this order, any person entitled to do so under Section 19a of the Interstate Commerce Act may file with the Secretary of the FERC written protest concerning this valuation, such protest to

specify in detail the findings concerning which protest is made and the reasons for such protest. 2. If no protest is filed within the period specified and if no petition for leave to intervene has been filed as provided by the notice published by the Federal Energy Regulatory Commission on October 12, 1978, 43 Fed. Reg. 47000, and the proceeding is not reopened for any other reason, these findings will be the findings of the FERC, and the valuation as found will be final.

Jurisdiction over oil pipelines, as it relates to the establishment of valuations for pipelines, was transferred from the Interstate Commerce Commission to the Federal Energy Regulatory Commission (FERC), pursuant to Sections 306 and 402 of the Department of Energy Organization Act, 42 U.S.C. §§ 7155 and 7172, and Executive Order No. 12009, 42 Fed. Reg. 46267 (September 15, 1977).

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to ascertaining valuations pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorities.

Introductory. The Tecumseh Pipe Line Company, hereinafter called the carrier, was incorporated April 6, 1956 under the general corporation laws of the state of Ohio. The carrier's corporate office is located at Cleveland, Ohio and its general office at Independence, Kansas. The carrier is jointly controlled by the Atlantic Richfield Company, The Union Oil Company of California and Ashland Oil, Inc., through ownership of the outstanding capital stock. It does not, itself, control any common carrier corporation.

The common carrier property of the carrier is operated by the ARCO Pipe Line Company as contract agent.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the carrier's basic valuation report as of December 31, 1957, 56 Valuation Report 757.

Location and general description of property and operations. - The main line consists of: (1) a 12inch line 3 miles in length extending from connections with Amoco Pipe Line Company, TexacoCities Service Pipe Line Company and CushingChicago Pipe Line System near East Chicago, Indiana to Hartsdale Station, Indiana; and (2) a 20inch line 201 miles in length extending easterly to Cygnet, Ohio. The total trunklines aggregate 206.107 miles including 203.672 miles of main line and 2.435 miles of other lines.

During the year the carrier received into its system 59,296,833 and delivered out 59,315,111 barrels of crude oil.

Elements of value. - As of December 31, 1977, the elements of value of property owned and used by the carrier in common carrier service are as follows:

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to ascertaining valuations pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorities.

Introductory. The Texaco-Cities Service Pipe Line Company, hereinafter called the carrier, was incorporated November 1, 1928 under the general corporation laws of the State of Delaware as the Texas-Empire Pipe Line Company (name changed January 1, 1955). Its corporate office is located in Wilmington, Delaware and its general office at Houston, Texas. The carrier is controlled jointly by Texaco Inc. and the Cities Service Company through ownership by each of 50 percent of the oustanding capital stock. It does not, itself, control any common carrier corporation.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the carrier's basic valuation report as of December 31, 1934, and in its revaluation report as of December 31, 1947, 48 Val. Rep. 327 and 50 Val. Rep. 330.

Location and general description of property and operations. The carrier owns and operates trunk pipelines in the States of Illinois, Indiana, Kansas, Missouri and Oklahoma, which are used for transporting crude oil and its refined products.

The principal route for crude oil extends from Seminole and Cushing, Oklahoma to East Chicago, Indiana. Branches extend from Valley Center, Kansas to Sheldon, Missouri, Patoka to Wilmington, Illinois, Salem to Heyworth, Illinois, Mattoon to Heyworth, Illinois, and Wilmington to Lockport, Illinois. The refined products trunkline extends from West Tulsa to Cushing and Ponca City, Oklahoma. Trunklines owned and used aggregate 1,911.164 miles, including 1,440.035 miles of main line, 449.868 miles of loops or parallel lines and 21.261 miles of other lines.

During the year the carrier received into its system 116,458,681 and delivered out 116,341,659 barrels of crude oil, and received 3,367,695, and delivered out 3,379,475 barrels of refined oils.

Elements of value. - As of December 31, 1977, the elements of value of property owned and used by the carrier in common carrier service are as follows:

Working capital is $994,500.

The original costs of land and rights-of-way owned and used by the carrier on December 31, 1977 are $100,420 and $1,159,881, respectively.

Reference is made to Appendix 4, Ajax Pipe Line Corporation, 50 Val. Rep. 1, which is hereby made a part hereof, for a statement of the methods generally employed and of the reasons for the differences between the various cost values reported.

In computing a single sum value, the Commission places primary emphasis on two elements of cost; namely, cost of reproduction new and original cost to date. These two elements are weighted together based on each one's percentage to the sum of the two. The weighted figure is then depreciated to reflect the value of the property in its present

condition by applying a condition percent factor derived from a ratio of cost of reproduction new less depreciation value to the cost of reproduction new value. The resultant depreciated value is increased by 6 percent to reflect an amount for going concern. To this increased value, an amount is added for the present value of the land, rights-of-way and working capital. This final figure is the total single sum value of the carrier's properties that are used and useful for common carrier purposes.

The details respecting the figures here reported are on file in the valuation records of the Commission. These details are referred to for greater particularity as to the matters herein stated. The Board finds:

1. After careful consideration of all facts herein contained, including appreciation, depreciation, go

ing-concern value, and all other matters which appear to have a bearing upon the values here reported, the value, pursuant to Section 19a of the Interstate Commerce Act, as of December 31, 1977, of the property owned and used by the carrier for common carrier purposes is $54,242,100.

2. No other values or elements of value to which specific sums can now be ascribed are found to exist.

The Board orders:

1. The property owned and used by the carrier as of December 31, 1977 is hereby valued at $54,242,100. On or before 30 days from the date of

service of this order, any person entitled to do so under Section 19a of the Interstate Commerce Act may file with the Secretary of the FERC written protest concerning this valuation, such protest to specify in detail the findings concerning which protest is made and the reasons for such protest. 2. If no protest is filed within the period specified and if no petition for leave to intervene has been filed as provided by the notice published by the Federal Energy Regulatory Commission on October 12, 1978, 43 Fed. Reg. 47000, and the proceeding is not reopened for any other reason, these findings will be the findings of the FERC, and the valuation as found will be final.

Jurisdiction over oil pipelines, as it relates to the establishment of valuations for pipelines, was transferred from the Interstate Commerce Commission to the Federal Energy Regulatory Commission (FERC), pursuant to Sections 306 and 402 of the Department of Energy Organization Act, 42 U.S.C. §§ 7155 and 7172, and Executive Order No. 12009, 42 Fed. Reg. 46267 (September 15, 1977).

The FERC, by order issued February 10, 1978, FERC Statutes and Regulations ¶30,007, established an Oil Pipeline Board and delegated to the Board its functions with respect to the issuance of valuation reports pursuant to Section 19a of the Interstate Commerce Act. The Oil Pipeline Board takes this action pursuant to the above mentioned authorities.

Its property is operated by the Gulf Refining Company under an operating agreement dated December 1, 1951.

Additional data regarding corporate history, organization, operation, financial, other detail and elements of value will be found in the carrier's basic valuation report as of December 31, 1954, reported in detail in 55 Val. Rep. 367.

Location and general description of property and operations. The carrier owns crude oil trunk pipelines in the State of Texas, extending from connections with other pipelines at Colorado City in Scurry County to connections near Port Arthur, and from Wortham Station, Freestone County, to connections near Longview in Gregg County, Texas. The owned and used trunklines aggregate 594.480 miles, including 576.513 miles of main line, 0.750 mile of loops or parallel lines, and 17.217 miles of other lines.

During the year the carrier received into its system 114,707,829 and delivered out 114,894,431 barrels of crude oil.