Partners

TEPPCO Partners LP will spend $45 million to expand its Green River Basin-based Jonah System, adding 55 MMcf/d to the gathering capacity of the Pinedale Field lateral and increasing the mainline capacity by 150 MMcf/d. The expansion will handle growth from the Pinedale Field and reduce operating pressures on the gathering lines. The Pinedale Field lateral’s capacity will be increased to 250 MMcf/d and the mainline capacity will jump to 880 MMcf/d from its current 739 MMcf/d.

The Vinson & Elkins investigation of Enron employee Sherron Watkins’ allegations of accounting improprieties was conducted by two of the law firm’s partners who had minimal accounting background and no help from associates or consulting accountants, testimony revealed last Thursday at a House Energy and Commerce subcommittee hearing.

The Vinson & Elkins investigation of Enron employee Sharon Watkins’ allegations of accounting improprieties was conducted by two of the law firm’s partners who had minimal accounting background and no help from associates or consulting accountants, testimony revealed Thursday at a House Energy and Commerce subcommittee hearing.

CornerStone Propane Partners LP is waiting for a buyer and several have expressed interest, but the company also is formulating a fall-back plan in case a sale or merger doesn’t materialize. The company said last week that it has shut down its wholesale natural gas marketing operations, which were conducted by Coast Energy Group (CEG).

CornerStone Propane Partners LP said a significant number of parties have expressed interest in buying or merging with the company, but it is formulating a parallel plan in the event a sale or merger is not realized to manage its debt obligations. The company said it shut down its wholesale natural gas marketing operations, which were conducted by Coast Energy Group (CEG). It reported a quarterly loss of $9.7 million or 40 cents per unit compared with net income of $11.6 million or 48 cents per unit in the same quarter in 2000.

Kinder Morgan Energy Partners LP (KMP), the pipeline master limited partnership of Houston-based Kinder Morgan Inc., plans to purchase another 10% interest in the Cochin Pipeline System from NOVA Chemicals Corp. for approximately $29 million in cash. With the purchase, KMP will own 45% of the pipeline.

Kinder Morgan Energy Partners LP (KMP), the pipeline master limited partnership of Houston-based Kinder Morgan Inc., plans to purchase another 10% interest in the Cochin Pipeline System from NOVA Chemicals Corp. for approximately $29 million in cash. With the purchase, KMP will own 45% of the pipeline.

Kinder Morgan Energy Partners LP (KMP) added the massive eastern Texas pipeline system of Tejas Gas LLC to its shopping cart this Christmas. The company said it’s buying Tejas, a wholly owned subsidiary of InterGen (North America) Inc. — which is a joint venture of Royal Dutch Shell and Bechtel — for $750 million in cash, or “a little less than eight times the [annual] EBITDA of the system,” according to CEO Richard Kinder.

Kinder Morgan Energy Partners LP (KMP) added the massive eastern Texas pipeline system of Tejas Gas LLC to its shopping cart this Christmas. The company said it’s buying Tejas, a wholly owned subsidiary of InterGen (North America) Inc. — which is a joint venture of Royal Dutch Shell and Bechtel — for $750 million in cash, or “a little less than eight times the [annual] EBITDA of the system,” according to CEO Richard Kinder.