QUESTION: Hey Gang, Attached are the physical curve mappings as provided by Russ Severson... Please take a peek and let us know if we need to change, add/delete, update any points/mappings going forward in a Netco environment... For instance, I would like to change Texoma to Carthage on the curve mappings... Also, I would like to delete all derived curves, leaving only Carthage, KatyTailgate, and Agua Dulce. The other physical locations would be ShipChannel, Waha and Katy (non-tailgate)... Let me know your thoughts... O'Neal 3-9686
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ANS: Physical Curve Mappings_Sitara
Please be advised that a conference call regarding the above-referenced has been set for Friday, June 23, 2000, 10:30am central time. The dial in number for this call is 1-800-998-2462. The pincode is 4309724.
Q: What is a potential subject line for this email?
answer: Project Stanley Conference Call
Here are my notes from today's call. As with Monday, I've focused on getting them out as quickly as possible rather than taking extra time to re-organize them by subject. Enron's business has been grouped into three buckets: Core, Non-core, and Under Review. Core: Wholesale energy business in North America and Europe, retail energy, pipelines Non-core: Broadband, water, and international assets (i.e. EGAS). Enron has approx. $8Bn in investments in these assets, and they have produced 'dismal' returns. Enron will be exiting these businesses and will attempt to wind them up in an orderly fashion. An aggressive divestiture program has been set in motion for these assets. Under Review: EGM, EIM. These businesses are being closely examined to determine whether they have a reasonable chance of long-term viability. Required resource levels are being carefully studied. Following review, Enron will move the different portions of these businesses to core or non-core as the analysis dictates. Approximately $800MM of asset sales are under contract and expected to close in the fourth quarter. These include a gas LDC in Brazil, EcoElectrica, and our Indian E&P assets. Enron is in active pursuit of an additional private equity infusion of $500MM-1Bn. Given the current environment, raising equity in the public markets would be 'inefficient', McMahon says. Short-term liquidity is provided by the $3Bn of credit drawn upon a few weeks ago, the $1Bn of new debt, and the $1.5Bn equity infusion from Dynegy. Longer-term, the proceeds from the sale of PGE will provide liquidity. Asset sales over the next year will be used to pay down debt. McMahon described the major off-balance-sheet vehicles: Marlin was set up to hold Azurix assets. It was initially capitalized with $950MM of 144a debt and $125MM of equity (raised from Enron and institutional investors). The debt is supported by the equity and by Azurix' assets. Enron is obligated to cover any deficit at the time the debt becomes due on 3/17/03 (the 'Enron topup' obligation). The 3/17/03 date is accelerated in the event that Enron is rated below-investment-grade by any one of the three major agencies. The primary asset of Marlin is Wessex Water. As long as Wessex is worth at least $2.6Bn, there will be no Enron topup required. If we take a 25% haircut to present book value, Enron will have to provide $650MM in consideration upon retirement of the debt. This $650MM would hit Enron cash, income, and equity balances. Osprey contains energy-related assets and 'other assets'. It was initially capitalized with $2.4Bn of 144a debt and $220MM in equity (ENE and institutionals). As with Marlin, the entity is an asset-backed structure with an Enron topup guarantee. The debt is supported by a) the assets; b) $1Bn of convertible preferred ENE (convertible into 50MM shares of ENE common); and c) additional ENE common as needed for topup. Assuming the same 25% hypothetical haircut to current book value, Enron would have to deliver approx. $600MM of topup funds--which would hit ENE cash, income, and equity. The debt must be retired by 9/17/02, with the same cut-to-junk early trigger provision as Marlin.
Answer: Highlights from ENE Analyst Conference Call 11/14
Here is an email: Molly and I discovered that CES has about 1400 dt of Texas Gas Zone SL to Z4 capacity each month. Dayton releases this capacity to CES each month. We have been using this capacity since Jan 1 to serve the CES Zone 4 markets. According to Steve, the primary path on this capacity is Zone SL to Dayton's meter in Zone 4. I have been pricing all the Texas Gas Zone 4 at IF CNG App. I believe we need to add a Texas Gas Zone SL IF and make the premium $.01. I have not brought this to CES's attention. They will eventually catch it because we have been billing CES the transport demand charge.
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A: CES Transport
Q: there is a book request form in Netco\controls\Book request form.xls. I put in the west desk books already. Susan is checking to see if we can use those portfolio and book codes, if not we'll change them. KK
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A: book request
Here is an email: As a result of a number of UBS offer declines, the East Power book organization has several changes in comparison to the book list which was originally set up in GCP and other systems. I am attaching a spreadsheet which details such changes for both the power books and gas books traded by our power traders. Please do not hesitate to call me with ANY questions!! Thanks!
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A:
Revised East Power UBS Book Listing