FERC has issued a final rule requiring interstate pipelines toidentify the names and addresses of their marketing affiliates ontheir web sites on the Internet. The new rule is aimed at assistingthe Commission in its oversight efforts and at helping shippers tobetter monitor transportation transactions between pipelines andtheir affiliated marketers. The rule, which amends existingCommission regulation, would require an interstate pipeline toupdate this information within three business days of any change inthe status of its marketing affiliate, and to indicate when theinformation was last updated. The rule would only apply tointerstate pipelines engaged in transactions with their affiliates.This reporting requirement, FERC believes, is especially importantas marketing-affiliate names and addresses are in a constant stateof flux due to acquisitions, divestitures, consolidations and/orother market changes [RM98-7].

EEX Corp. agreed to trade substantially all of its Permian Basinproperties in West Texas and Eastern New Mexico for the shallowwater properties located off the coast of Texas and Louisiana ofEnergen Resources Corp., the oil and gas subsidiary of EnergenCorp. In addition to the shelf properties, EEX will receive $9million in cash. “This trade is another step in our strategy toexit the onshore business and focus on offshore Gulf of Mexico.These new properties will improve near-term production of naturalgas and will contribute to improving our cost structure by loweringper unit production costs while eliminating overhead costs relatedto onshore properties,” said Tom Hamilton, EEX CEO.

In addition to cash, EEX will receive interests in 24 producingblocks and 30 exploratory blocks. Current average daily productionfrom the 24 producing blocks is about 21 MMcfe, and proved reservesapproximate 38 Bcfe. Energen will be receiving properties with anaverage daily production of about three thousand barrels equivalentand proved reserves of about 58 Bcfe. T

Lone Star Gas International along with two partners was awardeda permit to build a gas distribution system in Mexico City byMexico’s Comision Reguladora de Energia (CRE). Lone Star is a 70%partner in a consortium that is to invest $213 million over 10years for a system that will have nearly 440,000 users, the vastmajority of them residential. Lone Star’s partners, each with 15%,are the Mexican companies Grupo Diavaz and Controladora Comercial eIndustrial.

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