Petroleum

Ingleside Cogeneration, L.P., a joint venture subsidiary ofOccidental Petroleum Corp. and Conoco, has completed a $200million, 440 MW cogeneration facility in South Texas. The plant hasstarted providing power for the adjacent OxyChem and DuPontchemical facilities, officials for the joint venture saidyesterday. In addition, enough excess electrical power will be soldinto the newly deregulated Texas grid for 75,000 homes andbusinesses.

Tesoro Petroleum Corp. of San Antonio, TX, agreed to sell all ofits domestic exploration and production business to EEX Corp. ofHouston for $216 million.

Occidental Petroleum, the unpredictable mid-size producer, holdssome wild cards in California’s unfolding natural gasrestructuring, and it’s so far playing them close to the vest.Independents in the south San Joaquin Valley oil patch think Oxy is”up to something,” perhaps a merger with another Californiaproducer, while others are watching the company put increasinglymore gas supplies on the market since buying Elk Hills reservesfrom the federal government two years ago.

Anadarko Petroleum Corp. announced yesterday it had retainedMadison Energy Advisors to market a package of its oil and gas assetsin Texas. The properties, located in the Hemphill Field area ofHemphill County, TX, include 83 completions from 70 wells with workinginterests ranging from 5% to 100%. Current gross daily production fromthese properties is approximately 82 BOPD and 8.1 MMcf/d. Anadarko isalso looking to sell the surrounding midstream assets including theHemphill Gathering System, which gathers low-pressure wellhead gas anddelivers it to Williams’ Hobart Ranch Plant. This four to eight inchdiameter pipeline is approximately 50 miles long and currently has 112wells connected. The properties will be sold through a negotiatedsale, with a data room scheduled to open in August. For furtherinformation contact Clint Wetmore at Madison Energy Advisors,281-876-2244 or check Madison’s web page atwww.MadisonEnergy.com.

Bath Petroleum Storage, Inc. (BPSI), a company operating in aprime Northeast salt cavern storage location, is up for sale.

Bath Petroleum Storage, Inc. (BPSI), a company operating in aprime Northeast salt cavern storage location, is up for sale.

Anadarko Petroleum, reporting a strong second quarter andincreased capital spending, also revealed last week it is gainingGulf of Mexico sub-salt exploration rights through an agreementwith Texaco Exploration and Production.

Anadarko Petroleum Corp. is gaining Gulf of Mexico sub-saltexploration rights through an agreement with Texaco Exploration andProduction Inc. Anadarko also just announced significantly improvedsecond quarter results and a nearly 60% boost to its currentcapital spending program.

Avista Corp. is counting on technology businesses for growth andsees its Internet-based bill consolidation business as the frontdoor to a nationwide marketing presence. During press briefingslast week in Houston and Washington, DC, executives outlinedAvista’s continuing evolution.