Subpoenas

El Paso Corp. said Friday it would cooperate with the Securities and Exchange Commission (SEC), which has launched a formal investigation of the company’s recently announced oil and gas reserve revisions.

Duke Energy said last week that it intends to comply with a subpoena it received from a Western District of North Carolina grand jury. The grand jury is seeking documents related to last year’s audit of subsidiary Duke Power’s financial and regulatory reporting from 1998 to 2000 by North Carolina and South Carolina utilities commissions (see Power Market Today, Nov. 20, 2002).

Oneok Inc. reported it has received a subpoena from the Commodity Futures Trading Commission (CFTC) for information related to certain trading transactions by energy and power marketing firms.

Reliant Resources Inc. reported late Thursday that the Securities and Exchange Commission (SEC) has begun a formal investigation of the Houston-based company’s “round trip” trades and “the transactions that led to a restatement of the company’s 2001 financial results earlier this year.” The SEC order also is directed to Reliant Energy Inc., and follows an informal investigation begun several weeks ago.