Five

Occidental Petroleum Corp. said it replaced 100% of 1999worldwide oil and gas production on an equivalent barrel basis.Over the past five years, Occidental has replaced an average 171%of production. Occidental also said it lowered its finding anddevelopment costs by 65% since 1997, to $3.03 per barrel in 1999.

Bowing to the concerns of shippers, FERC last week suspended forthe maximum five-month term Texas Gas Transmission’s tariffproposal to provide new hourly service for the summer electricpower generation market. During the suspension period, theCommission directed staff to convene a technical conference toaddress shippers’ issues and report back to it within 120 days.

Bowing to the concerns of shippers, FERC last week suspended forthe maximum five-month term Texas Gas Transmission’s tariffproposal to provide new hourly service for the summer electricpower generation market. During the suspension period, theCommission directed staff to convene a technical conference toaddress shippers’ issues and report back to it within 120 days.

Washington Gas Light Co. announced last week that it has filedfor a five-year rate freeze with the Maryland Public ServiceCommission. Additionally, the filing states that any earnings inexcess of the target return on equity, set at 11.4%, will be sharedequally between Washington Gas and its firm customers. Theeffective date of the proposal is July, 1, 2000, pending commissionapproval.

Natural gas production from the deep water Gulf of Mexico hasincreased 252% over the last five years, from 159 Bcf in 1994 to560 Bcf in 1998, according to the Department of Interior’s MineralsManagement Service.

Apache Corp. will increase its oil reserves five-fold with a deal to acquire producing properties and other assets in Alberta, British Columbia and Saskatchewan, Canada with proved reserves of 87.5 MMBoe from Shell Canada Limited for $524 million. The deal follows one made earlier this year with Shell for Gulf of Mexico assets that more than doubled Apache’s gas and oil production.

CMS Marketing, Services and Trading, (CMS-MST) has madesignificant additions to its energy services operations recently,signing a five-year energy management agreement with Chicago-basedBank One Corp. last week and expanding its national presencethrough the purchase of Viron Corp. from York International in lateSeptember.

The state of New Jersey, scene of a massive natural gas pipeline explosion five years ago, has launched an attack on Transco’s MarketLink project — which had no connection with the blast — demanding more stringent safety requirements on interstate pipelines and additional proof there is a need for added pipeline capacity.

The state of New Jersey, scene of a massive natural gas pipelineexplosion five years ago, has launched an attack on Transco’sMarketLink project – which had no connection with the blast -demanding more stringent safety requirements on interstatepipelines and additional proof there is a need for added pipelinecapacity.