Issuing

Northwest noted that despite putting its system into entitlementand issuing a realignment OFO, primary scheduled volumes throughKemmerer (WY) Station remain greater than physical capacity.Therefore, starting today the pipeline is invoking a “must-flowOFO” provision of its tariff. Until further notice, shippers withprimary corridor rights southbound through Kemmerer are required toflow up to 10% of their contract demand from receipt points northof Kemmerer to delivery points south of Kemmerer or take some othermutually agreeable action to alleviate the Kemmerer capacityproblem. See the Northwest bulletin board for details.

MRT is issuing a System Protection Warning for today throughFriday in conjunction with planned maintenance at its UnionvilleStorage Facility in North Louisiana. For today’s entire gas dayWest Line shippers west of Unionville will be limited to a maximumof 40% of their nomination. If excess volumes continue to flow intothe system during this warning, MRT said, an OFO and/or curtailmentof ISS storage injections may become necessary.

The Midwest Independent Transmission System Operator, Inc.(MISO) announced today that it was issuing a Request For Proposal(RFP) for an independent third-party market monitor.

The Iowa Utilities Board has moved toward certifying natural gasmarketers in the state after issuing a proposed rulemaking thatsets different standards for small- and large- volume customers,specifically focusing on smaller customers who may not have theresources to evaluate a potential marketer.

The Iowa Utilities Board is moved toward certifying natural gasmarketers in the state after issuing a proposed rulemaking lastweek. The proposal sets different standards for small- and large-volume customers, specifically focusing on smaller customers whomay not have the resources to evaluate a potential marketer.

After issuing several customer-specific high-linepack OFOs overthe last couple of months, Pacific Gas & Electric reverted to asystemwide Stage 2 OFO for Saturday’s gas day. The order carriedpenalties of $1/Dth for positive daily imbalances exceeding arelatively stringent 2% tolerance.

FERC took a major step Wednesday towards regional operation ofthe electric transmission grid by issuing a notice of proposedrulemaking (NOPR) that seeks to promote the formation of regionaltransmission organizations (RTOs) nationwide.

Devon Energy Corp. and Canadian-based Northstar Energy Corp.completed their merger, which was announced June 29. Devon isissuing about 16.1 million common equivalent shares to theNorthstar shareholders. In addition, Devon is assuming US$312million in existing Northstar debt. Northstar shareholders arereceiving 0.235 exchangeable shares for each Northstar share. Witha total capitalization of $1.9 billion, the merged company DevonEnergy Corp. is one of the top 15 U.S.-based independent oil andgas producers. The company is balanced with 54% of its provedreserves in the United States and 46% in Canada and has totalproved reserves of about 300 million Boe.

Devon Energy Corp. and Canadian-based Northstar Energy Corp.completed their merger, which was announced June 29 (see NGI July6, 1998). Devon is issuing about 16.1 million common equivalentshares to the Northstar shareholders. In addition, Devon isassuming US$312 million in existing Northstar debt.