Sells

Sabine Pipe Line Co. last week got the go-ahead from FERC tosell a small segment of its pipeline system in Texas and Louisianaas part of its effort to restructure its business into a limitedliability company.

Sabine Pipe Line Co. has gotten the go-ahead from FERC torestructure its business as a limited liability company to takeadvantage of certain state and franchise tax benefits and gaingreater flexibility to raise capital.

There’s no denying that El Paso Natural Gas has a bad habit ofattracting controversy, but its latest move seems a bit moremasochistic than usual.

Foiled in its bid to sell 1.25 Bcf/d of capacity to Enron NorthAmerica, El Paso Natural Gas announced late yesterday the capacityhad been won in a rebid by affiliate, El Paso Merchant Energy-GasL.P. for $38.5 million.

Denver-based Western Gas Resources earlier this week exercisedits long-standing option to buy 170 miles of proprietary gaspipelines in the Sacramento Basin and promptly sold the network oftwo- and 10-inch-diameter pipes to California-based merchant powerplant developer Calpine Corp. No dollar figures on the deals willbe released, and both companies are expected to make formalannouncements later this week or early next week, according toWestern Gas and Calpine.

As part of an asset sales program, CMS Energy Corp. subsidiaryCMS Field Services sold 49% of its formerly 100% interest in theNorthern Header gathering system to affiliates of Enron Corp. andNorthern Border Partners. CMS, Enron and Northern Border Partnersplan to expand the gathering system, renamed Bighorn Gas GatheringLLC, to serve a broad area of northeastern Wyoming’s Powder RiverBasin. CMS Field Services will retain a majority interest inBighorn and act as project manager.

As part of an asset sales program, CMS Energy Corp. subsidiaryCMS Field Services sold 49% of its formerly 100% interest in theNorthern Header gathering system to affiliates of Enron Corp. andNorthern Border Partners. CMS, Enron and Northern Border Partnersplan to expand the gathering system, renamed Bighorn Gas GatheringLLC, to serve a broad area of northeastern Wyoming’s Powder RiverBasin. CMS Field Services will retain a majority interest inBighorn and act as project manager.

Denver-based TransMontaigne Inc. agreed to sell gas gatheringsubsidiary Bear Paw Energy Inc. to a group formed by Bear Pawmanagement along with two other partners for $107.5 million in cashand reimbursement of costs for a Powder River gathering system.

Denver-based TransMontaigne Inc. agreed to sell gas gatheringsubsidiary Bear Paw Energy Inc. to a group formed by Bear Pawmanagement along with two other partners for $107.5 million in cashand reimbursement of costs for a Powder River gathering system.