Marathon Group, a unit of USX Corp., said the strategicre-organization of its upstream business is largely complete but anadditional 250 positions likely will be eliminated, leaving theupstream business with 24% fewer employees than in 1999. “We haveplans in place for dramatic change and improvement and I believethat the organization is both ready for change and able to deliveron our commitments,” said Company President Clarence Cazalot.Cazalot introduced a new senior leadership team in September afterannouncing the restructuring plan in October. Commenting on thecompany’s target of implementing $150 million of annual repeatableefficiencies by the end of 2001, Cazalot said, “We are on track todeliver a $75 million reduction in above-the-field costs and wehave made substantial progress towards cutting exploration expensesby $50 million. As we also realize annual savings of $25 millionthrough global procurement, we are well on our way to meet ourambitious overall target.”
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Articles from Positions
Duke Reorganizes Pipeline Team
Duke Energy Gas Transmission has named Tom O’Connor, TheopolisHoleman, Dorothy Ables and Richard Kruse to new positions as seniorvice presidents. This new market-oriented executive team willreport to Robert B. Evans, president of Duke Energy GasTransmission, and will be responsible for the management of DukeEnergy’s interstate natural gas pipelines.
LG&E to Cut 250 Jobs, Streamline Merged Utility Divisions
LG&E Energy said it plans to reduce its 5,500-employeeworkforce by 250 positions (5%) over the next few months in aneffort to streamline and further integrate its two utilityoperations, Louisville Gas and Electric and Kentucky Utilities.Enhanced early retirement and severance programs will be offered tocompany employees to achieve the reduction. The company hopes toachieve these reductions through voluntary means and will useinvoluntary separation only as a last resort.
LG&E to Cut 250 Jobs, Streamline Merged Utility Divisions
LG&E Energy said yesterday it plans to reduce its5,500-employee workforce by 250 positions (5%) over the next fewmonths in an effort to streamline and further integrate its twoutility operations, Louisville Gas and Electric and KentuckyUtilities. Enhanced early retirement and severance programs will beoffered to company employees to achieve the reduction. The companyhopes to achieve these reductions through voluntary means and willuse involuntary separation only as a last resort.
Warming Temps, Profit-Taking Usher Futures Lower
Natural gas bulls never got a chance yesterday as traders shedlong positions in sympathy with falling cash market prices and inanticipation of warming temperatures this week. By the time thedust had cleared and the orders were tabulated, the March contracthad slipped a cool 18 cents lower, tumbling beneath several keylayers of support and easily negating last Friday’s impressivegains.
KCBT Entertains a Change to Basis
With the total number of open positions on its Waha futurescontract languishing under 400, the Kansas City Board of Trade hastaken measures that could signal the end of that contract as itcurrently exists. The exchange is in discussions withPG&E-Texas, the owner of the Waha hub, over potentialramifications of a switch to a basis contract tied to Nymex’s HenryHub futures contract.
KCBT Entertains a Change to Basis
With the total number of open positions on its Waha futurescontract hovering under 400, the Kansas City Board of Trade hastaken measures that could signal the end of that contract as itcurrently exists. The exchange said it is in discussions withPG&E-Texas, the owner of the Waha hub, over potentialramifications of a switch to a basis contract tied to NYMEX’s HenryHub futures contract.
FERC Advisor to Head Up NGSA’s Regulatory Affairs
The Natural Gas Supply Association (NGSA) wasted little time inpicking successors to fill positions that were left vacant by thesudden departures of two staff members.
Koch’s Auction, Imbalance Plans Draw Protests
Koch Gateway Pipeline’s proposal to create an interactiveauction for shippers to bid on capacity in expiring firm storagecontracts has come up against some protest at the Federal EnergyRegulatory Commission.
FERC’s Jagtiani to Head Up NGSA’s Regulatory Affairs
The Natural Gas Supply Association (NGSA) wasted little time inpicking successors to fill positions that were left vacant by thesudden departures of two staff members.
