corresp
Via EDGAR and Federal Express
June 3, 2011
H. Roger Schwall
Assistant Director
United States Securities and Exchange Commission
Division of Corporation Finance
100 F Street, N.E.
Washington, D.C. 20549
|
|
|
Re: |
|
Oiltanking Partners, L.P.
Amendment No. 1 to Registration Statement on Form S-1
Filed May 12, 2011
File No. 333-173199 |
Ladies and Gentlemen:
Set forth below are the responses of Oiltanking Partners, L.P., a Delaware limited partnership
(the Partnership, we, us or our), to comments received from the staff of the Division of
Corporation Finance (the Staff) of the Securities and Exchange Commission (the Commission) by
letter dated May 31, 2011, with respect to the Partnerships Registration Statement on Form S-1,
File No. 333-173199, initially filed with the Commission on March 31, 2011 (the Registration
Statement).
Concurrently with the submission of this letter, we are filing through EDGAR Amendment No. 2
to the Registration Statement (Amendment No. 2). For your convenience, we will hand deliver
three full copies of Amendment No. 2, as well as three copies of Amendment No. 2 that are marked to
show all changes made since the filing of Amendment No. 1 to the Registration Statement.
For your convenience, each response is prefaced by the exact text of the Staffs corresponding
comment in bold, italicized text. All references to page numbers and captions correspond to
Amendment No. 2 unless otherwise specified.
Oiltanking North America
15631 Jacintoport Blvd. Houston, Texas 77015 Tel. 281-457-7900 Fax 281-457-7990
Amendment No. 1 to Registration Statement on Form S-1
General
1. We note your response to comments one, two and 14 in our letter dated April 29, 2011. We will
need sufficient time to consider the impact of the missing information on your offering and your
disclosure regarding your cash distributions.
Response:
We acknowledge the Staffs comment. We have filed as exhibits to this Amendment No. 2 a
substantial majority of the exhibits to the Registration Statement. In addition, we have filled in
each of the blanks in the filing for which information is currently available.
We will undertake to file with future amendments to the Registration Statement all other
omitted exhibits. Further, we will undertake to provide in future amendments to the Registration
Statement all information that we are not entitled to omit pursuant to Rule 430A, including an
estimated price range. We will allow sufficient time for the Staff to review all new disclosure
and newly filed exhibits and for us to respond to any comments that may result from the Staffs
review.
Executive Officer Compensation, page 115
2. We note your response to comment 22 in our letter dated April 29, 2011. Your disclosure
indicates that your general partner will manage [your] operations and activities on [your] behalf
through its (emphasis added) officers and directors. However, your response indicates
that your executive officers will be employed by Oiltanking North America, LLC. Revise your
disclosure to make that clear in the prospectus. We note that these individuals will spend
approximately 75% of their time on your operations. We will complete our consideration of your
responses to comments 22 and 25 in our letter dated April 29, 2011 after we have reviewed the
Services Agreement which you have not yet filed as an exhibit.
Response:
We acknowledge the Staffs
comment. Our operations and activities will be managed by the
directors and officers of our general partner, the latter of whom
will be employed by Oiltanking North America, LLC. References to
our officers and our directors refer to the
officers and directors of our general partner. We have revised our disclosures on page 111 to clarify
these matters accordingly.
We have filed as Exhibit 10.4 to this Amendment No. 2 a form of the services agreement.
Oiltanking North America
15631 Jacintoport Blvd. Houston, Texas 77015 Tel. 281-457-7900 Fax 281-457-7990
Please direct any questions that you have with respect to the foregoing or with respect
to the Registration Statement or Amendment No. 2 to Gillian A. Hobson at Vinson & Elkins L.L.P. at
(713) 758-3747.
|
|
|
|
|
|
Very truly yours,
OTLP GP, LLC
|
|
|
By: |
/s/
Kenneth F. Owen |
|
|
|
Kenneth F. Owen |
|
|
|
Chief Financial Officer |
|
|
Enclosures
|
|
|
cc: |
|
Alexandra Ledbetter, Securities and Exchange Commission
Carlin G. Conner, OTLP GP, LLC
David Palmer Oelman, Vinson & Elkins L.L.P.
G. Michael OLeary, Andrews Kurth LLP
Gislar Donnenberg, Andrews Kurth LLP |
Oiltanking North America
15631 Jacintoport Blvd. Houston, Texas 77015 Tel. 281-457-7900 Fax 281-457-7990