Equitable Resources revealed its 1999 capital budget Monday,demonstrating its dedication to focusing on only its coreAppalachia production and gas utility businesses. Equitable’s 1999spending plan for its four main divisions, Equitable Production,Utilities, Services, and its corporate group, adds up to $119million, representing a $64 million decrease from 1998. Theproduction unit was allocated 54% of the budget, down 21% from theyear before.
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Marathon Inks Deal with PEAK
Demonstrating the growing relationship between marketers andmunicipal gas companies, USX Corp. subsidiary Marathon Oil Co.(Marathon) announced a $52.8 million agreement last week to supplyover 31 Bcf of firm natural gas to the Public Energy Authority ofKentucky (PEAK) for 10 years. Effective Nov. 1, Marathon willprovide gas for PEAK through the Texas Gas Transmission pipelinesystem.
November 16, 1998
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