Currently

Leviathan Gas Pipeline Partners and Tejas Energy unveiled NemoGathering Co. yesterday. The new company, which is 66% owned byTejas and 33% owned by Leviathan, has entered into a gas gatheringagreement with Shell Deepwater Development Inc. and will constructa 24-mile, 20-inch gas gathering line connecting Shell’s plannedBrutus development with the existing Manta Ray Offshore GatheringSystem. Tejas will operate the line once it is constructed.

For the first time in the last eight quarters, Chesapeake EnergyCorp. of Oklahoma City, OK, turned a profit. The improvement was inspite of decreased production.

Enron Capital and Trade Resources currently is negotiating adeal with a Lincoln, NE-based nonprofit joint power agency to sellit wholesale bulk, multi-year gas supplies so the agency can inturn sell them at below-market prices to municipal utilities inCalifornia and other states. Brokered through the American PublicEnergy Agency (APEA), supplies would be paid for in advance atdiscounted prices using the APEA tax-exempt financing capability.

Enron Capital and Trade Resources currently is negotiating adeal with a Lincoln, NE-based nonprofit joint power agency to sellit wholesale bulk, multi-year gas supplies so the agency can inturn sell them at below-market prices to municipal utilities inCalifornia and other states. Brokered through the American PublicEnergy Agency (APEA), supplies would be paid-for in advance atdiscounted prices using the APEA tax-exempt financing capability.

Retail gas unbundling in California is “currently beingundermined” by Dynegy Marketing and Trade’s withholding of asignificant portion of firm transportation capacity on El PasoNatural Gas from the market, the head of the California PublicUtilities Commission (CPUC) said last week. As a remedy, CPUCPresident Richard A. Bilas called on FERC to implement regulationsprohibiting the “hoarding” of pipeline capacity and to investigateallegations of anticompetitive conduct, which he contends wasevident in the Dynegy-El Paso arrangement.

Retail unbundling in the California natural gas market is”currently being undermined” by Dynegy Marketing and Trade’swithholding of firm transportation capacity on El Paso Natural Gas,the head of the California Public Utilities Commission (CPUC) saidThursday. As a remedy, CPUC President Richard A. Bilas called onFERC to implement regulations prohibiting the “hoarding” ofpipeline capacity and to investigate allegations of anticompetitiveconduct, which he contends was prevalent in the Dynegy-El Pasocontract arrangement.

Almost a third of gas and oil companies surveyed expect to havecompleted Year-2000 (Y2K) remediation by the end of the year,according to the results of a new survey by the Natural Gas Council(NGC). It further found that 73% said they would be ready by June1999, while all respondents indicated they would be prepared byDecember 1999.

Almost a third of gas and oil companies surveyed expect to havecompleted Year-2000 (Y2K) remediation by the end of the year,according to the results of a new survey by the Natural Gas Council (NGC) that was released last week. It further found that73% said they would be ready by June 1999, while all respondentsindicated they would be ready by December 1999.

The Senate Energy and Natural Resources Committee has approvedthe nomination of Bill Richardson, currently U.S. ambassador to theUnited Nations, to become the next secretary to the Department ofEnergy (DOE).