Property

DTE, MCN Propose Merger Solution

To resolve concerns raised by the Federal Trade Commission overthe proposed merger of DTE Energy and MCN Energy, MCN has agreed totransfer a property interest to a unit of Unicom Corp. that wouldallow for the use of up to 20 Bcf of natural gas transportationcapacity annually on MCN’s Michigan Consolidated Gas Co. system inthe relevant distribution area.

September 7, 2000

PanCanadian Launches Web-Based Property Leasing Program

PanCanadian Petroleum Ltd.’s newest venture, a web page withinits Internet site dedicated to leasing and farming out some of itsundeveloped oil and natural gas rights in Western Canada, waslaunched last week with its first Call for Bids centered on fourblocks on land that cover 69,000 acres in Alberta.

July 10, 2000

Investor Group Buys MidAmerican Energy Holdings Co.

An investor group including Berkshire Hathaway Inc., a holdingcompany primarily involved in the property and casualty insurancebusinesses, jumped into the energy sector yesterday by purchasingMidAmerican Energy Holdings Co. for over $2 billion. Overall, thetotal enterprise value of the transaction is $9 billion.

October 26, 1999

ECT Developing California Power Plant

Tejon Ranch Co. signed an agreement with Enron Capital &Trade Resources Corp. to develop a power plant on its property atthe southernmost end of the San Joaquin Valley at the base of theTehachapi Mountains. The site is strategic because of the proximityof the California Aqueduct, existing major transmission lines, andthe Kern River-Mojave gas pipeline.

May 5, 1999

Pioneer-Costilla Property Deal Cancelled

Pioneer Natural Resources Co. of Dallas announced thetermination of a purchase and sale agreement between Pioneer andCostilla Energy Inc. for the sale of certain oil and gas propertiesto Costilla. As a result of Costilla’s failure to close the April 1agreement, Pioneer has received one million additional shares ofCostilla common stock as liquidated damages.

April 19, 1999

Arco-Mobil Swap Would Net Vastar GOM Properties

A property swap between an ARCO subsidiary and Mobil wouldresult in Houston-based Vastar Resources picking up 1999 Gulf ofMexico production estimated to be 180 MMcfe/d.

August 5, 1998

UPR Details Property Divestiture Plans

Union Pacific Resources Group announced additional details ofproducing properties it will sell to raise at least $600 million byyear-end. US and international properties make up nine bid packagesand will be made available in two phases. The first phase willinclude properties in the Gulf of Mexico, South Louisiana, SouthTexas and East Texas. Executive summaries for these packages willbe available by June 1 with closings anticipated by Oct. 1. Thesecond phase of the program will include properties in the RockyMountains, Argentina, Egypt and Australia. Executive summaries willbe available July 1 with closings anticipated by Oct. 30.

April 28, 1998
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