Numerous

Strong energy demand and numerous “fee-based” service transactions led to significant financial earnings growth for Kinder Morgan Inc. (KMI) and solid distribution growth for Kinder Morgan Energy Partners (KMP). CEO Richard D. Kinder forecasts 40% growth this year in earnings per share for KMI and raised the distribution targets set for KMP, which already hit its year-end distribution target in the first quarter.

Strong energy demand and numerous “fee-based” service transactions led to significant financial earnings growth for Kinder Morgan Inc. (KMI) and and solid distribution growth for Kinder Morgan Energy Partners (KMP). CEO Richard D. Kinder forecasts 40% growth this year in earnings per share for KMI and raised the distribution targets set for KMP, which already hit its year-end distribution target in the first quarter.

Phillips Petroleum reported on Tuesday that it is making numerous management changes and creating a new worldwide gas division to better focus on the company’s worldwide gas strategy. Laura Sugg, previously the new business ventures manager for the corporation, has been elected to the position of vice president of worldwide gas, effective April 1. Joseph High will make the move from his current position as vice president of human resources for the components and packaged applications group of Rockwell Automation to the post of vice president of human resources for the corporation, effective April 15. Don Duncan, manager of federal relations since 1993, has been elected vice president of government relations, effective April 1. Former assistant treasurer Jeff Sheets, effective April 1, took his newly elected position of vice president and treasurer. Fran Vallejo, currently strategic transactions and planning manager in the company’s corporate strategy and development group, has been elected assistant treasurer, effective May 1. Edd Grigsby, vice president of investor and public relations, has announced that he will retire after 39 years of service on July 1. Effective May 1, Grigsby will continue to be responsible for public relations, but he will also be on special assignment to Jim Mulva, chairman and CEO. Clayton Reasor, currently commercial services resource area manager for Phillips’ Norway division, has been named manager of investor relations beginning on May 1.

Despite numerous press conferences and a lot of hype from political leaders, the bulk of the nearly 10,000 MW in California’s long-term electricity deals still have not been nailed down in formal signed contracts. The agreements are suppose to provide up to 7,000 MW this year and up to 10,000 MW over next 10 years.

Speaking prior to the launch of numerous state legislative proposals last week designed to solve California’s power crisis, FERC Chairman Curt Hebert expressed disappointment with the speed and direction the state has taken so far in attempting to manage its predicament.

Speaking prior to the launch of numerous state legislativeproposals yesterday designed to solve California’s power crisis,FERC Chairman Curt Hebert expressed disappointment with the speedand direction the state has taken so far in attempting to manageits predicament.

Independent producers who took advantage of soaring gas and oil prices put in a blockbuster second quarter, according to the numerous financial reports released yesterday. “Essentially everybody beat my earnings forecasts,” said Irene Haas, E&P analyst for Sanders Morris Harris in Houston.

Independent producers who took advantage of soaring gas and oilprices put in a blockbuster second quarter, according to thenumerous financial reports released yesterday. “Essentiallyeverybody beat my earnings forecasts,” said Irene Haas, E&Panalyst for Sanders Morris Harris in Houston.

Despite the tense situation in the power industry and thenumerous power alerts so far this summer, a new study by J.D. Powerand Associates and Navigant Consulting found that electric utilitycustomer satisfaction actually has improved this year and theaverage length of the longest power outage declined. Nationwideabout 65% of residential customers reported that they are extremelyor very satisfied with their electric utility provider.