Binding

Vector Pipeline LP will hold a non-binding open season beginning Sept. 1 through Sept. 30 for bids on firm capacity for a 2006 mainline expansion project for the natural gas transmission pipeline. The 349-mile pipeline system, which was constructed in 2000, currently transports approximately 1 Bcf/d and has the ability to increase this capacity up to 1.5 Bcf/d by constructing additional compressor stations.

Vector Pipeline LP will hold a non-binding open season beginning Sept. 1 through Sept. 30 for bids on firm capacity for a 2006 mainline expansion project for the natural gas transmission pipeline. The 349-mile pipeline system, which was constructed in 2000, currently transports approximately 1 Bcf/d and has the ability to increase this capacity up to 1.5 Bcf/d by constructing additional compressor stations.

The Keystone facility, located in the Permian Basin near the Waha hub, is conducting a non-binding open season through Sept. 1 to secure interest in firm natural gas storage services for 1 Bcf of capacity, according to Unocal Midstream & Trade (UMT). Its fourth cavern is expected to be in service by the end of this year.

The Keystone facility, located in the Permian Basin near the Waha hub, is conducting a non-binding open season through Sept. 1 to secure interest in firm natural gas storage services for 1 Bcf of capacity, according to Unocal Midstream & Trade (UMT). Its fourth cavern is expected to be in service by the end of this year.

Aspen Group Resources Corp. has signed a binding Letter of Intent (LOI) with Oklahoma-based Crusader Energy Corp. to sell its U.S. oil and natural gas assets for $22 million cash, pending closing adjustments. The LOI proposes the sale of all of Aspen’s U.S. oil and gas production and reserves, which equates to approximately 3,600 Mcfe/d of production and approximately 26.4 Bcfe of proven reserves. The reserves are approximately 88% natural gas. Aspen’s wholly owned subsidiary United Cementing and Acidizing Co. is not included in the sale. Crusader is a new entity funded by an equity investment made by Kayne Anderson Capital Advisors LP and David D. LeNorman. The transaction’s effective date is June 1, 2004, and closing is expected to occur by Oct. 1, 2004.

Bay Gas Storage is holding a non-binding open season through July 9 to test market interest in adding a third salt cavern to its McIntosh storage field 40 miles north of Mobile, AL. The EnergySouth subsidiary said it is offering up to 5 Bcf of additional working gas capacity and based on the results of the open season will evaluate whether to expand the field or add new interconnects with interstate pipelines. The McIntosh field has the capability of adding 10 additional salt caverns. It currently has two gas storage caverns with direct interconnects to Florida Gas Transmission, Gulf South Pipeline and Mobile Gas Service. The two caverns have a combined working gas capacity of 6 Bcf with injection and withdrawal capacities of 200 MMcf/d and 610 MMcf/d, respectively, all of which is fully subscribed. A third cavern would expand working gas capacity and add injection and withdrawal capabilities, as well as possibly new receipt/delivery points with Transcontinental Gas Pipe Line and Gulfstream Natural Gas. The expected completion date for an expansion would be early 2007. For details contact David Hayden at (251) 478-5817 or dhayden@bay-gas.com or visit www.bay-gas.com.

Bay Gas Storage is holding a non-binding open season through July 9 to test market interest in adding a third salt cavern to its McIntosh storage field forty miles north of Mobile, AL.

Duke Energy Corp. shareholders last week approved a non-binding resolution calling for the annual election of board members. Initially opposed by the board of directors, CEO Paul Anderson said the vote will not be opposed.

At its annual meeting on Thursday, Duke Energy Corp. shareholders approved a non-binding resolution calling for the annual election of board members. Initially opposed by the board of directors, CEO Paul Anderson said the vote will not be opposed.