tw bullets 2 / 16 capacity marketing - tw sold 35 , 000 mmbtu / d of firm transport to sempra
energy trading at a negotiated rate of $ 0 . 50 / mmbtu plus fuel for the two year
period beginning january 1 , 2004 . the path is from blanco to socal needles ;
contract value is $ 12 . 8 mm . in addition , sempra waived its right to utilize
its call option for 21 , 500 mmbtu / d of capacity at $ 0 . 30 / mmbtu during this
two - year period .
tw also sold 14 , 000 mmbtu / d of firm transport to calpine for two years
beginning jan . 1 , 2004 at a floating rate based on the difference between the
california border and the san juan blanco indices . the primary delivery
point is calpine ' s newly constructed power plant on the topock lateral . the
floating price can currently be hedged to yield a gross margin of
$ 0 . 80 / mmbtu , with a contract value ( net of fuel ) of $ 6 . 1 mm .
bp / amoco was one of several interested parties last week as tw marketed the
remaining large blocks of our east capacity . bp has come back to tw with an
offer , based on available space , of $ 0 . 02 / mmbtu for demand plus a sharing
mechanism for alternate deliveries west . the proposed term is for 2001 april
- october . we are working with facility planning to determine the available
space .
gas inventory - tw continued to experience high line pressure and pack out
west this week . this necessitated an additional sale of line pack gas of
15 , 000 mmbtu for a gross revenue of $ 277 , 500 .
el paso natural gas co . - bids were due monday ( 2 / 12 ) for the 1 . 2 bcf / d of
west capacity on el paso . they marketed the space in 5 blocks of various
capacities ; minimum bid was 100 % of the max california reservation rate for
a minimum term of 1 month . market intelligence indicates over 144 bids were
submitted for max terms of 5 years . el paso indicated the award announcement
will be made the week of 2 / 19 . el paso merchant will likely exercise their
rofr right and take the space at max rates for 5 years .
tw bullets 2 / 16
capacity marketing - tw sold 35 , 000 mmbtu / d of firm transport to sempra
energy trading at a negotiated rate of $ 0 . 50 / mmbtu plus fuel for the two year
period beginning january 1 , 2004 . the path is from blanco to socal needles ;
contract value is $ 12 . 8 mm . in addition , sempra waived its right to utilize
its call option for 21 , 500 mmbtu / d of capacity at $ 0 . 30 / mmbtu during this
two - year period .
tw also sold 14 , 000 mmbtu / d of firm transport to calpine for two years
beginning jan . 1 , 2004 at a floating rate based on the difference between the
california border and the san juan blanco indices . the primary delivery
point is calpine ' s newly constructed power plant on the topock lateral . the
floating price can currently be hedged to yield a gross margin of
$ 0 . 80 / mmbtu , with a contract value ( net of fuel ) of $ 6 . 1 mm .
bp / amoco was one of several interested parties last week as tw marketed the
remaining large blocks of our east capacity . bp has come back to tw with an
offer , based on available space , of $ 0 . 02 / mmbtu for demand plus a sharing
mechanism for alternate deliveries west . the proposed term is for 2001 april
- october . we are working with facility planning to determine the available
space .
gas inventory - tw continued to experience high line pressure and pack out
west this week . this necessitated an additional sale of line pack gas of
15 , 000 mmbtu for a gross revenue of $ 277 , 500 .
el paso natural gas co . - bids were due monday ( 2 / 12 ) for the 1 . 2 bcf / d of
west capacity on el paso . they marketed the space in 5 blocks of various
capacities ; minimum bid was 100 % of the max california reservation rate for
a minimum term of 1 month . market intelligence indicates over 144 bids were
submitted for max terms of 5 years . el paso indicated the award announcement
will be made the week of 2 / 19 . el paso merchant will likely exercise their
rofr right and take the space at max rates for 5 years .