Forth

After a lengthy back and forth process, the Federal Energy Regulatory Commission issued an order last week approving an agreement between Commission staff and CenterPoint Energy Gas Transmission Company (CEGT) that effectively clears up alleged violations in a Show Cause Order issued by the Commission on Sept. 15, 2003.

Following a week of back and forth negotiations in Houston, a plea bargain deal apparently collapsed at midday Friday for Lea Fastow, former assistant treasurer of Enron Corp. and the wife of its former CFO. However, her attorney indicated that negotiations would continue over the weekend.

As sources had expected earlier, the back-and-forth pattern of cold waves kept a midweek rally limited to two days and led to an across-the-board price retreat Thursday. Only the Florida peninsula was still seeing highs above 70 that day, but prospects for a moderation trend going into the weekend pushed averages lower by about a nickel to as much as 35 cents.

Following the example set forth by the natural gas futures market, cash prices started strong Tuesday only to fizzle late in the morning as an unimpressive tropical storm brought spring rains and cooling temperatures to the Gulf and southeastern states. Tropical Storm Allison, the first tropical storm of the season, formed yesterday in the northwestern Gulf of Mexico but did little to slow the late declines in both cash and futures markets. Although prices at many locations were up initially yesterday, and posted average daily increases of a dime or more in some locations, sources agreed those prices will come under downward pressure today.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

Sid Richardson Gasoline Co. of Forth Worth, TX, bought theWalton and Santa Rosa gas gathering systems of American GatheringLP and American Processing LP, both wholly owned subsidiaries of KNEnergy. The systems are in the Texas counties of Walker, Ward,Crane, and Pecos. The systems are made up of more than 600 miles ofgathering line and more than 30 MMcf/d of processing and treatingcapacity. The acquisition gives Richardson access to producersupplies from Kermit in Winkler County to Fort Stockton in PecosCounty. The assets will be consolidated with Richardson’s existingKeystone processing facility in Winkler County, which has beenowned and operated by Richardson for more than 50 years.