Totaling

Writedowns totaling $342 million related to investments in power generation assets and oil reserves in financially-troubled Argentina in the first half of the year added up to a net loss of $99 million for El Paso Tennessee Pipeline Co. for the six-month period ending June 30, the company announced Wednesday.

El Paso Energy Partners LP (EPN) said it has signed three new contracts totaling 246 Bcf/year of firm transportation capacity on its EPGT Texas intrastate pipeline and gas storage services at its Wilson Storage facility. City Public Service of San Antonio bought five years of firm transportation and storage service beginning July 1; Devon Energy Corp. added five years of firm transportation service beginning Oct. 1; and MGI Supply Ltd., an affiliate of Pemex Gas, began contracting for month-to-month service at the EPGT Texas delivery point located at Penitas, TX, on the Mexico border last month.

El Paso Corp said it closed on oil and gas property sales totaling $525 million in the first quarter of 2002, and is on track to reach $2.25 billion in assets sales by this summer as part of its balance sheet strengthening program.

Chesapeake Energy added 240 Bcfe of proved Midcontinent gas reserves and 45 MMcfe/d of production through three acquisitions announced Tuesday totaling $249 million, which will be paid in cash. The acquired assets have a reserves-to-production index of 14.2 years, are 81% natural gas and are 83% proved developed, the company said.

Consolidated Edison Inc. last week disclosed that it has approved plans for its Con Edison Development (CED) subsidiary to add capacity totaling more than 600 MW at power generating facilities in New Jersey and Massachusetts. The plant expansions will take place at facilities owned by CED in Lakewood, NJ, and West Springfield, MA.

Consolidated Edison Inc. yesterday disclosed that it has approved plans for its Con Edison Development (CED) subsidiary to add capacity totaling more than 600 MW at power generating facilities in New Jersey and Massachusetts. The plant expansions will take place at facilities owned by CED in Lakewood, NJ, and West Springfield, MA.

Guardian Pipeline said it bought five engine compressor packagestotaling 22,225 hp to provide natural gas compression on its141-mile, 660 MMcf/d pipeline in Illinois and Wisconsin. Itpurchased the compressors from Compressor Systems, Inc. of Midland,TX. Combined, the compressors will be capable of delivering up to750 MMcf/d of gas on Guardian. “Guardian Pipeline is continuing tomake steady progress. This purchase agreement for a major equipmentcomponent keeps Guardian on track to meet its scheduled in-servicedate of November 2002,” said George Hass, Guardian project manager.A final Federal Energy Regulatory Commission (FERC) decision on theGuardian Pipeline is expected by early 2001. In June, FERC issued aPreliminary Determination that the pipeline is in the publicinterest, subject to the outcome of its environmental review, andin July, FERC staff issued a favorable Draft Environmental ImpactStatement on the project. In addition, the Public ServiceCommission of Wisconsin made a preliminary determination on theproject in October, accepting the economics of a Wisconsin Gaslateral pipeline, which will connect Guardian with Wisconsin Gas’distribution system. Guardian will transport gas frominterconnections with Alliance, Northern Border, Midwestern, andNGPL at the Chicago hub near Joliet, IL, to northern Illinois andsouthern Wisconsin markets starting in November 2002. Its sponsorsinclude CMS, WICOR and Viking Gas.

California’s natural gas purchasing program for about 120 stateoperated facilities, totaling more than 14 Bcf, annually has beenpostponed until June 7 and revised due to increasingly uncertainmarket conditions, according to the head of the state’s buyingprogram in the state General Services Department. Bids in therevised program are due from the state’s seven pre-approved biddersby 8:30 a.m. on the 7th. Sempra Energy Trading is the currentsupplier.

California’s natural gas purchasing program for about 120 stateoperated facilities, totaling more than 14 Bcf, annually has beenpostponed until June 7 and revised due to increasingly uncertainmarket conditions, according to the head of the state’s buyingprogram in the state General Services Department. Bids in therevised program are due from the state’s seven pre-approved biddersby 8:30 a.m. on the 7th. Sempra Energy Trading is the currentsupplier.