Interests

El Paso Power Services Co., a subsidiary of Houston-based ElPaso Energy, agreed to buy the interests of PSEG Global and ENPEXCorp. in the Newark Bay Cogeneration Partnership in a deal worthmore than $100 million and expected to close as early as July thismonth.

Coastal Field Services Co. made a small increase in itsinterests in Gulf of Mexico Mobile Bayarea and gained the companyoption to increase its share significantly more.

Consolidated Natural Gas Co. E&P subsidiary CNG ProducingCo. agreed to buy interests in Lopeno and two adjacent South Texasgas fields. Earlier in the year, CNG Producing bought about a 50%interest in the Lopeno field, and together with the most recentpurchase, CNG Producing will own nearly 100%. On a combined basis,the company will pay $125 million for the two transactions.

BP Amoco is shedding its oil interests in Canada to concentrateon natural gas, with a vow to be the lowest-cost leader in aCanadian producer community tooling up to expand exports to theUnited States.The newly-merged empire’s Canadian arm has put upfor sale assets currently producing 53,300 barrels per day ornearly all of the former Amoco Canada’s oil holdings. The only gasput on the block is about 40 MMcf/d, or 4% of BP Amoco’s Canadiandaily production of about 1 Bcf which is associated with oilproperties.

BP Amoco is shedding its oil interests in Canada to concentrateon natural gas, with a vow to be the lowest-cost leader in aCanadian producer community tooling up to expand exports to theUnited States.The newly-merged empire’s Canadian arm has put upfor sale assets currently producing 53,300 barrels per day ornearly all of the former Amoco Canada’s oil holdings. The only gasput on the block is about 40 MMcf/d, or 4% of BP Amoco’s Canadiandaily production of about 1 Bcf, which is associated with oilproperties.

PennzEnergy Co. and Sonat Exploration Co. formed a joint ventureto develop mineral interests underlain by coal bed methane at the700,000-acre Vermejo Park Ranch in northeast New Mexico.PennzEnergy has held the bulk of the mineral rights since 1970.

PennzEnergy Co. and Sonat Exploration Co. formed a joint ventureto develop mineral interests underlain by coal bed methane at the700,000-acre Vermejo Park Ranch in northeast New Mexico.PennzEnergy has held the bulk of the mineral rights since 1970.

A Senate report’s conclusion that the natural gas and oilindustries aren’t likely to be ready for the computer-relatedsystem challenges of the Year 2000 is based on “out-of-date”information that “misses [the] significant progress the industrieshave made” during the past six months, said major industry tradegroups.

Washington Water Power’s newly formed affiliate Avista PowerInc. and Cogentrix Energy Inc. agreed to jointly build and/or buyinterests in gas-fired electric generation plants in the PacificNorthwest states of Washington, Oregon and Idaho. The first projectunder the new agreement is an approximately 270 megawatt facilityto be located in Rathdrum, ID. A power purchase agreement for theRathdrum project was signed simultaneously with the developmentagreement.