ScottishPower and PacifiCorp received Nuclear RegulatoryCommission (NRC) approval of their merger. It is the final federalapproval needed to complete the transaction. NRC approval isrequired because PacifiCorp owns a 2.5 percent share in the TrojanNuclear Plant in Oregon. The plant has not operated for severalyears, and is in the process of being decommissioned. “With allfederal, and four of the six state approvals in place, we are wellon track to completing the merger by the end of the year,” saidPacifiCorp CEO-designate Alan Richardson.

El Paso Tennessee Pipeline Co., a unit of El Paso Energy Corp.reported an increase in third quarter net income from $38 millionfor the same period of 1998 to $46 million,this year, afterrestatement. Net income for the third quarter of 1998 was restatedto give effect to a tax-free internal reorganization on December31, 1998. Consolidated operating income for the third quarter of1999 totaled $78 million, compared to $64 million for the sameperiod of 1998, after restatement. Net income for the first ninemonths of 1999 was $204 million, excluding the cumulative effect ofan accounting change, compared to $134 million, after restatement,for the same period of 1998. The change, which occurred in thefirst quarter of 1999, relates to the accounting for certainproject development costs.

Samson Offshore Company of Houston says it has purchased over81,800 net leasehold acres located on 30 exploratory Gulf of Mexicoblocks from Barrett Resources Corp. The blocks are located off thecoasts of Louisiana and Texas and provide both shallow anddeep-water exploration opportunities. Samson is currentlydesignated as Operator on 12 of these blocks. The Company expectsthat drilling will commence on selected blocks early next year.”This is the first of many steps Samson Offshore plans to take tobuild a significant presence in the Gulf of Mexico. It is animportant milestone for our Houston office, which was establishedone year ago to focus on growing our South Louisiana and Gulf ofMexico activities,” stated Tom Dimelow, Samson Offshore’sPresident.

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