C0103282025-01-012025-03-31C0103282024-12-31C0103282023-12-31C0103282024-03-31C0103282024-01-012024-03-31C0103282025-03-31C010328HHB0EB151436EA9CEDB82EBEEA04210DFC2025-01-012025-03-31C010328HHB0EB151436EA9CEDB82EBEEA04210DFC2024-01-012024-03-31C010328HH5896675F2BE65AE4FEAC72A48FA87A112025-01-012025-03-31C010328HH5896675F2BE65AE4FEAC72A48FA87A112024-01-012024-03-31C010328HH4458E8A62B0D71EAD97E8879A7B8FB612025-01-012025-03-31C010328HH4458E8A62B0D71EAD97E8879A7B8FB612024-01-012024-03-31C010328HH98E9CBE6418A0C4F71474A7DF1C094852025-01-012025-03-31C010328HH98E9CBE6418A0C4F71474A7DF1C094852024-01-012024-03-31C010328HH637CFF15FF72600656C6AAC1E85CD9122025-01-012025-03-31C010328HH637CFF15FF72600656C6AAC1E85CD9122024-01-012024-03-31C010328HH9DB0B2E80D346CA62FACE50D3A249D082025-01-012025-03-31C010328HH9DB0B2E80D346CA62FACE50D3A249D082024-01-012024-03-31C010328HH6311AE17C1EE52B36E68AAF4AD0663872025-01-012025-03-31C010328HH6311AE17C1EE52B36E68AAF4AD0663872024-01-012024-03-31C010328HH9B60F30CFD24702B6D7839F2D4DF98662025-01-012025-03-31C010328HH9B60F30CFD24702B6D7839F2D4DF98662024-01-012024-03-31C010328ferc:CrudeOilMember2025-01-012025-03-31C010328ferc:CrudeOilTrunkMember2025-01-012025-03-31C010328ferc:CrudeOilMemberHH5281FC8A21F1C600D74E0DBE21C6B0192025-01-012025-03-31C010328ScheduleStatisticsOfOperationsOwnedByRespondentButOperatedByOthersAbstract2025-01-012025-03-31C010328HH6311AE17C1EE52B36E68AAF4AD0663872025-01-012025-03-31C010328HH0A539D9045D05316BC3DC7CB31F054772025-01-012025-03-31C010328ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract2025-01-012025-03-31C010328HH5281FC8A21F1C600D74E0DBE21C6B0192025-01-012025-03-31xbrli:pureiso4217:USDutr:bbl2025/Q1Q12025-03-316-QC0103282025<div>
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<span style="font-family:Calibri">1)None</span>
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<span style="font-family:Calibri">2)None</span>
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<span style="font-family:Calibri">3)The Company is currently undergoing an expansion project that will increase the capacity of the Gray Oak Pipeline by approximately 120kbd (the Project). The Project is expected to be completed in early 2026. FERC Tariff No. 2.26.0 (Docket No. IS25-252) and Texas Tariff No. 3.24 were filed to publish the initial committed rates for committed service related to the additional capacity resulting from the Project.</span>
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<span style="font-family:Calibri">4)The Company is involved in various litigation arising from the normal operations of its pipeline business. The Company, based on the advice of </span><span style="font-family:Calibri">counsel</span><span style="font-family:Calibri">, believes that any adverse findings with respect to such legal </span><span style="font-family:Calibri">actions</span><span style="font-family:Calibri"> will not result in a material effect on the financial position of the Company.</span>
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<span style="font-family:Calibri">5)Not Applicable</span>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><span style="font-family: Calibri;">The accompanying unaudited interim financial statements have been prepared in accordance with the accounting requirements of the Federal Energy Regulatory Commission (“FERC USA”), as set forth in its applicable Uniform System of Accounts and published accounting releases for quarterly reporting, which is a comprehensive basis of accounting other than accounting principles accepted in the United States of America (“GAAP”). Accordingly, they do not include all the information and footnotes required by FERC USA in the annual report. In accordance with FERC USA guidelines, prior year quarterly information is included in the FERC 6Q. In the opinion of management, they contain all adjustments, consisting only of normal recurring adjustments, which management considers necessary to present fairly the financial position as of Mar 31, 2025 and December 31, 2024; the results of operations for the three months ended March 31, 2025 and March 31, 2024; and cash flows for the three months ended March 31, 2025 and </span><span style="font-family: Calibri;">March 31, 2024, in accordance with the accounting requirements of FERC USA. The results of operations for the three months </span><span style="font-family: Calibri;">ended</span><span style="font-family: Calibri;"> March 31, </span><span style="font-family: Calibri;">2025</span><span style="font-family: Calibri;"> and March 31, </span><span style="font-family: Calibri;">2024</span><span style="font-family: Calibri;"> should not be taken as indicative of the results to be expected for the full year, due to seasonality, maintenance activities and other factors. The interim financial statements should be read in conjunction with the financial statements and notes thereto of Gray Oak Pipeline, L.L.C., presented in </span><span style="font-family: Calibri;">the Form</span><span style="font-family: Calibri;"> No. 6 Annual Report filed for 2024.</span></p>
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</div></div>6908942067082712838420627687548883399279412428826947846690435631994342181426266725729776600000000217427478000000001388107998611902564397441690894204116188310796620429060054879327420072428826947324662230794171862882564397441174764856886458931488507083107589035810758903582381503511769873842670492141442956795616115329361153293611532936115329316961693-782445447364595795075028246793706155197-13874953611532936115329361153293611532934345200-1787662220493-20493-71800000-17346848Nafeesa KassamVice-President - FinanceNafeesa Kassam2025-06-05Gray Oak Pipeline, LLC915 North Eldridge Parkway, Suite 1100, Houston, Texas 77079Alan McCoyManager, Accounting200, 425 - 1st Street SW Calgary | Alberta | Canada | T2P 3L8+1 403-231-5937O50409103974323642324249358405746413910652478427737287853566905352417038250241703825084669036699739646113776036822034025317833741944737679919831477266716450495600000000175630836762256048000000009589579990410514761297091055653665001055653665253178337412649001650404353760856639339881952841414956610020620-1402235662063307620633076206330762063307620633076206330762063307620633071694588242335-1635140598796-81192487005114449738976431461-6431461-82300000-1868031750409103Amortization of debt issuance costs4291542915Other Non-Current Liabilities-3536765-2404091Net (Increase) Decrease in Prepayments & Other Current Assets248695132764Net (Increase) Decrease in Other Assets & Deferred Charges817679372649Interest Payable510000358000Changes in construction payables1274276-163441Other183288-774016Distributions to members9170000071800000120877037120877037984411984411300003000045985674598567126490016682550657388914347103831394108092244574517275741698821721254288375001927752795860850404353101564679101564679946404407911518102551958101564679101564679946404407911518102551958Texas101564679101564679946404407911518102551958N/AOtherContributions from members-94000006825506573889143471038313941080922445745682550657388914347103831394108092244574517275741698821721254217275741698821721254288375001927752795860888375001927752795860850404353N/A12123123112
Dividend paid to members in Q1 2025 is $91,700,000. Dividend paid from Additional Paid-In Capital is $29,636,693 while $62,063,307 was paid from Retained Income.