PG&E Sells Australian Assets to Duke

In a move to renew PG&E Corp.’s focus entirely on NorthAmerican markets, the utility holding company sold its natural gastransmission pipeline, related facilities and energy tradingoperations in Queensland, Australia to Duke Energy International,LLP.

June 25, 1998

Dynegy Sells Haynesville Plant to Duke

Dynegy Inc. (formerly NGC Corp.) sold its Haynesville, LA, gasprocessing and fractionation facility and related gas and gasliquids pipeline systems to Duke Energy Field Services. The sale ofthe non-strategic asset continues the rationalization of certaingas processing plants acquired from Trident and Chevron, which hasresulted in greater operating efficiencies and lower costs, Dynegysaid.

June 12, 1998

De-Leveraging UPR Sells Colorado Properties

Union Pacific Resources Group sold its interests in theWattenberg area of Colorado’s Denver-Julesberg Basin toDenver-based United States Exploration Inc. for $41 million. Theproperties, which are in Adams, Arapahoe, Elbert and Weld counties,consist of 336 producing wells, which produced about 5.5 MMcf/d ofgas and 640 barrels of liquids/d in 1997. UPR retained its royaltyinterest in the properties. The transaction closed May 15 and waseffective Jan.1.

May 29, 1998

KCBT Sells Gas Futures Trading Permits

The Kansas City Board of Trade expects to fan the flames ofinterest in its Western Natural Gas Futures Contract by offering asecond round of two-year gas trading permits for $1,000 each plusapplication fees of $300. Twenty trading permits are being offeredto non-KCBT members. Currently about 15-20 traders are active inthe gas pit so the offering potentially could double the exchange’sgas trading activity.

April 3, 1998

Westcoast Sells Centra Gas Alberta to AltaGas

Westcoast Energy announced it has agreed to sell its Albertanatural gas distribution business, Centra Gas Alberta, based inLeduc, BC, to AltaGas Services of Calgary for $61 million. Thecompany distributes gas to 53,000 residential, rural and smallindustrial customers in 90 communities in central Alberta.

April 2, 1998

EEX Sells Texas, N. Louisiana Properties

EEX Corp. agreed to sell nearly all of its properties in EastTexas and North Louisiana, containing 250 Bcfe of proved naturalgas reserves, to Cross Timbers Oil Co. for $265 million. Theeffective date of the sale is Jan. 1, 1998 with closing expected inthe second quarter.

February 26, 1998
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