NGI Archives | NGI All News Access
Eads Leaves El Paso Post Heading Unregulated Activities
El Paso Corp. announced Friday that Ralph Eads III, executive vice president, who presided over the company’s unregulated merchant energy and production businesses, left the company effective the end of December 2002 to pursue other opportunities.
Eads, 42, joined the company in 1999 as executive vice president charged with growing El Paso’s developing gas marketing and power generation businesses. He had oversight of the merchant energy functions when that unit bid on and won 1.3 Bcf/d of firm capacity on El Paso Natural Gas that had been turned back by California utilities (see Daily GPI, Feb. 17, 2000).
The 15-month period of the capacity contract starting March 1, 2000 overlapped the high-priced western energy crisis, effectively making El Paso the target of much of California’s ire and regulatory and legal complaints. The case challenging the pipeline affiliate’s use of that capacity is still before FERC (see Daily GPI, Dec. 6, 2002).
El Paso said Eads’ departure follows management changes announced in September 2002 and the company’s announced intention to exit the energy trading business.
Prior to joining El Paso, Eads was a managing director and co-head of the energy group at Donaldson, Lufkin & Jenrette, and was credited with being a key advisor to El Paso on its mergers with Tenneco Energy and Sonat. He had been involved in the energy investment banking business for over 15 years.
©Copyright 2003 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.
© 2024 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |