Denies

FERC yesterday denied a request by major offshore pipelines to bar public disclosure of information that they are required to submit to the Commission under the Outer Continental Shelf Lands Act (OCSLA).

A Transwestern Pipeline executive last week dismissed allegations that the pipeline withheld firm transportation capacity for service to California from recourse-rate shippers last winter by arranging substantially more lucrative negotiated-rate deals prior to posting available capacity to its web site.

A Transwestern Pipeline executive yesterday dismissed allegations that the pipeline withheld firm transportation capacity bound for California from its recourse-rate shippers last winter in order to free up more capacity for contracts at substantially higher negotiated rates.

The Federal Energy Regulatory Commission has denied a motion for a stay and remand of its earlier orders authorizing construction of Guardian Pipeline, a 141-mile, 36-inch line designed to deliver up to 750 MMcf/d from the Chicago Hub near Joliet, IL, to southeastern Wisconsin.

Marking the first quarter of record since the completion of its merger with The Coastal Corp. in January, El Paso Corp. reported that its diluted adjusted earnings rose 41% to $0.96 per share, compared with the company’s first quarter 2000 level of $0.68 per share. The strong results were led by the closure of its merger as well as a strong contribution from its merchant energy group.

Marking the first quarter of record since the completion of its merger with The Coastal Corp. in January, El Paso Corp. reported that its diluted adjusted earnings rose 41% to $0.96 per share, compared with the company’s first quarter 2000 level of $0.68 per share. The strong results were led by the closure of its merger as well as a strong contribution from its merchant energy group.

The U.S. Circuit Court of Appeals for the Ninth Circuit in San Francisco rejected petitions by the California Power Exchange (Cal-PX) to stay three critical elements of the Federal Energy Regulatory Commission’s Dec. 15 order, which mapped out a series of reforms for the out-of-control California wholesale power market.

The U.S. Circuit Court of Appeals for the Ninth Circuit in San Francisco last week rejected a petition by the California Power Exchange (Cal-PX) to stay three critical elements of the Federal Energy Regulatory Commission’s Dec. 15 order, which mapped out a series of reforms for chronic problems in the California wholesale power market.

Houston-based Enron Corp. said yesterday it was “verycomfortable” with its previously announced targets for 2001recurring earnings of $1.70 to $1.75 per diluted share despite adip in its stock performance this week, which hit a 52-week low.The company will provide a general update on the company during aconference call today.