Major

At an analyst meeting yesterday, executives from theOklahoma-City based Kerr-McGee, a major independent oil and gasproducer, outlined the company’s performance in 1999 and allowed afew glimpses into its strategy for next year.

Entergy Corp., a major New Orleans-based power producer andutility company, will keep its wallet open for the foreseeablefuture as it unveiled a five-year $9.8 billion capital investmentplan yesterday. The company said it will use the cash influx tofuel growth in power development and nuclear operations businesses,while also improving the performance of its utility operations.

Alaska Gov. Tony Knowles and BP Amoco signed a major agreementlast week that clears the way in the state for the oil giant’sproposed acquisition of Atlantic Richfield Co. But still awaitingBP Amoco is its biggest nemesis — the Federal Trade Commission(FTC), where the merger reportedly has run into a serious snag overantitrust concerns. BP Amoco is hoping the Alaska deal, which callsfor the largest divestiture of production assets in the state’shistory, will help it score some points with the agency.

Alaska Gov. Tony Knowles and BP Amoco signed a major agreementyesterday that not only clears the way in Alaska for the oilgiant’s proposed acquisition of Atlantic Richfield Co., but mayhelp the company score some points with the Federal TradeCommission (FTC). At least that’s what BP Amoco officials arehoping.

Baker Energy, a unit of Michael Baker Corp., signed a majoroperation and maintenance agreement with El Paso Production Co.that covers all of El Paso’s offshore production facilities in theGulf of Mexico (GOM). El Paso Production, formerly known as SonatExploration, operates more than 50 manned and unmanned oil and gasproduction facilities throughout the GOM. The contract has anexpected annual value of $12 million.

Houston-based Coral Energy launched coralconnect.com, ane-business Web site featuring e-commerce transactions, customizedcommodity price information, proprietary energy market analysis andother customer services.

Baker Energy, a unit of Michael Baker Corp., signed a majoroperation and maintenance agreement with El Paso Production Co.that covers all of El Paso’s offshore production facilities in theGulf of Mexico (GOM). El Paso Production, formerly known as SonatExploration, operates more than 50 manned and unmanned oil and gasproduction facilities throughout the GOM. The contract has anexpected annual value of $12 million.

Koch Gateway Pipeline last week lost out in its years-long questat FERC to be the first major interstate pipeline to winmarket-based rates for its primary firm and interruptibletransportation services on a system-wide basis. The issue is nowripe for court review.

FERC will address the remaining gas policy changes on its platebefore the end of the year, Chairman James J. Hoecker said lastweek, confirming what other commissioners have indicated recently.But some of the side dishes originally on the menu probably willnot show up at the table because most of the industry found themindigestible, Hoecker told attendees at the 55th annual meeting ofthe Interstate Natural Gas Association of America in Aventura, FL.A more market-oriented approach to regulation apparently is a tastethe industry and the Commission will have to acquire over time.