Doug

El Paso Corp. CEO Doug Foshee, addressing concerns highlighted at last month’s annual meeting, admitted Thursday in a lengthy letter to shareholders that the financial restatements by the company this year are unacceptable. But Foshee said he would “not offer the cold comfort of an excuse.” Instead, he highlighted improvements over the past year, and said the board “wanted to provide the best assurance we can that this situation will not occur again, and to ensure that El Paso will continue on its road to recovery.”

El Paso Corp. on Tuesday closed $3 billion of credit facilities, which CEO Doug Foshee said indicate the “significant progress” the company has made to improve its financial position. The new facilities replace an existing facility set to expire in June 2005.

El Paso Corp. on Tuesday closed $3 billion of credit facilities, which CEO Doug Foshee said indicate the “significant progress” the company has made to improve its financial position. The new facilities replace an existing facility set to expire in June 2005.

Marking his one-year anniversary as CEO of El Paso Corp., Doug Foshee said last week that the company is “well down the road on fundamentals,” and today is focusing on its strategic natural gas pipeline franchise and revamped exploration and production (E&P) unit.

Marking his one-year anniversary as CEO of El Paso Corp., Doug Foshee said Tuesday that the company is “well down the road on fundamentals,” and today is focusing on its strategic natural gas pipeline franchise and revamped exploration and production (E&P) unit.

El Paso Corp. CEO Doug Foshee on Friday issued a report card on the progress the Houston-based company has made in the past few months, and though it’s not in line for valedictory status at this point, the company expects to achieve its production target this year. And, he said, there’s been above-average progress in asset sales and in reducing expenses.

Rep. Doug Ose (R-CA), chairman of the House Government Reform Committee’s subcommittee on energy policy, recommended last Tuesday that FERC and the U.S. Coast Guard develop a “programmatic template” so that companies interested in developing liquefied natural gas (LNG) projects would know exactly what is required of them to achieve agency approval and swift processing. He also supported the concept of the Commission picking the most preferable sites for the location of onshore LNG facilities.

Rep. Doug Ose (R-CA), chairman of the House Government Reform Committee’s subcommittee on energy policy, recommended Tuesday that FERC and the U.S. Coast Guard develop a “programmatic template” so that companies interested in developing liquefied natural gas (LNG) projects would know exactly what is required of them to achieve agency approval and swift processing. He also supported the concept of the Commission picking the most preferable sites for the location of onshore LNG facilities.

El Paso Corp. CEO Doug Foshee on Friday issued a report card on the progress the Houston-based company has made in the past few months, and though it’s not in line for valedictory status at this point, the company expects to achieve its production target this year, and he said there’s been above-average progress in asset sales and in reducing expenses. However, the company’s CFO also warned that the 41% proved reserves cut announced in February may result in pre-tax charges higher than $1 billion it estimated in March. NGI Feb. 23