Mark, I reviewed the contracts for whether the gathering fees are charged on an Mcf vs MMBtu basis. The following are what the contracts state: Beartooth - MMBtu Crescendo - Mcf D&G Roustabout - MMBtu Hallwood - MMBtu LoneMountain/Premier - MMBtu National Fuels - MMBtu Northstar - MMBtu Tom Brown - Based on their stated intent to renegotiate Trend- MMBtu Wasatch - Not stated in contract. Rate is as Wildhorse adjusts from month to month Venoco - MMBtu Let me know if you have any questions.
Answer: Gathering Rates
Rod: Further to my recent memo, the Tokheim debt is being transferred to DLJ (and we owe Deutsche Bank for the unwind of the loan swap). Sara P.S. Who will handle credit derivatives in your absence?
Answer: Credit Derivatives
Steven : I have finally had a chance to go over the outstanding credit issues with Rod Nelson, our credit person, and here are his responses: 1. We cannot agree to the additional language in the cross-default provision. We need a trigger that is not subject to interpretation and second-guessing and the language that you proposed does just that. 2. On credit event upon merger, we would prefer to define the standard for "materially weaker" as below investment grade. Is that a problem for you? 3. With respect to payment netting, we would prefer that netting apply to Transactions that are of the same product line (i.e. all commodity swaps). Is that a problem for you? We thought that your operational issue had to do more with netting across product lines. 4. In the Credit Support Annex, we would prefer that the number of days to resolve disputes over exposure and/or value be 2 business days instead of 1. I am in the process of reviewing the new drafts of ISDA and CSA Schedules and will get back to you shortly on remaining comments. Carol
Answer: Credit Comments
Here it is. I guess she didn't make my reservations. You might want to double check. Obviously, I do not need a car. I would like to get these reservations asap for the upgrade. Thanks,
Answer:
Itinerary for trip to RALEIGH