Spreadsheet: louise_kitchen__22840__Hot List Update 6-5-01
Sheet: Compression

Deal Description Sheet - 6/5/01
Compression Services
YTD P & L | 4176000
Project Name | Counterparty | Description | Potential Valuation | Last Customer Contact | Probability | Expected Closing (Month/Year) | Weekly Updates / Comments
Project Seebreeze Phase II A | El Paso and Duke Field Services | Duke upfront payment for connection of El Paso plant to system. | $1.00 MM | 2001-06-01 00:00:00 | 0.75 | 2001-06-01 00:00:00 | Transaction closure upon delivery of El Paso contract.  [NAME] proposal currently under consideration by El Paso.
Bay Gas | Bay Gas Storage Co. | 13,000 HP storage facility expansion. | $2.40 MM | 2001-06-01 00:00:00 | 0.75 | 2001-06-01 00:00:00 | Notional pricing for gas w/parking provision received.  Conf. With customer regarding parking was positive but not confirmed.  Proposal adjustment for tiered heat rates, on/int/off peak & a reduced annual charge.
Oakhill | [NAME] | 7,000 HP retrofit. | $1.88 MM | 2001-05-28 00:00:00 | 0.75 | 2001-06-01 00:00:00 | Executable pricing still not available.  Notional value updated & Hanover's packaging and installation costs received.  Meeting w/the customer on the week of 6/4.
[NAME] | Duke Energy Field Services | 20,000 HP NGL processing plant retrofit. | $1.35 MM | 2001-05-11 00:00:00 | 0.6 | 2001-06-01 00:00:00 | A follow-up meeting in DEFS offices is set for 6/6.
HPL Texas City | AEP | 8,000 HP for growth markets. | $1.10 MM | 2001-05-08 00:00:00 | 0.5 | 2001-08-01 00:00:00 | Waiting on completion of industrial gas sale.
Project Seebreeze Phase II B | TBD | Additional gas procurement into NGL system benefiting Enron net profit interest. | $3.00 MM | N/A | 0.5 | 2001-08-01 00:00:00 | Negotiating with counterparites for wellhead contracts.
Enron Methanol | Enron Clean Fuels | 16,500 HP retrofit (3 units). | $1.00 MM | 2001-05-28 00:00:00 | 0.25 | 2001-08-01 00:00:00 | Preparing life cycle cost analysis based on notional estimates for capital installation to facilitate budgeting & approval processes.  Favorable feedback regarding emissions credits & values we should expect.
Cross Timbers | Cross Timbers | 6,200 HP of Gathering Compression | $500 M (early) | 2001-05-10 00:00:00 | 0.25 | 2001-08-01 00:00:00 | Developing structure.  Waiting for technical estimates.  Working on co-op pricing.
Carthage | Anadarko | 12,000 HP Compression Station | $500 M (early) | 2001-05-16 00:00:00 | 0.5 | 2001-09-01 00:00:00 | A meeting is scheduled for Monday 6/4 to present a proposed term sheet.
Southern Trails | Questar Pipeline Co. | 11,800 HP in total on up to 4 new stations; [NAME] (1 unit); [NAME] (1 unit); Beaumont (2 units) | $1.00 MM | 2001-05-24 00:00:00 | 0.5 | 2001-09-01 00:00:00 | Working on scenarios for Beaumont and Morongo.  Sent new proposal to customer on 5/16.
Project Chile | ENAP | Chilean field redevelopment - 30,000 + HP. | $10.00 MM | 2001-05-26 00:00:00 | 0.25 | 2001-09-01 00:00:00 | Submitted revised engagement letter; data gathering.
Unocal | Unocal | 7,000 HP grass roots station. | $1.25 MM | 2001-05-04 00:00:00 | 0.25 | 2001-09-01 00:00:00 | Customer is reviewing proposal.
Nicor | Nicor | 20,000 - 100,000 HP replacement project. | $500 M (early) | 2001-05-09 00:00:00 | 0.25 | 2001-09-01 00:00:00 | Meeting scheduled for 6/12 to present first proposal.
JM Huber | JM Huber | Producer asset/HP outsourcing deal. | $2 MM | 2001-05-31 00:00:00 | 0.25 | 2001-10-01 00:00:00 | Held initial data gathering meeting on 5/31.  Developing strategy.
Eastchester Phase II | Iroquois Gas Pipeline | 4,000 HP grass roots expansion. | $2.00 MM | 2001-05-11 00:00:00 | 0.5 | 2001-11-01 00:00:00 | Met with Iroquois on 5/11.  Customer is waiting on FERC approval by the end of summer.
East LA | ET&S | 21,000 HP storage development. | $1.00 MM | 2001-05-10 00:00:00 | 0.1 | 2001-11-01 00:00:00 | Contingent on success of storage development project.
Capline | Equilon | 225,000 (+) HP Pipeline System HPHr structuring. | $500 M (early) | 2001-05-22 00:00:00 | 0.25 | 2001-11-01 00:00:00 | Gathering information.
Stagecoach | Tennessee Gas Pipeline (EPG) | 14,000 HP expansion of Tennessee 300 line. | $1.30 MM | 2001-05-24 00:00:00 | 0.75 | 2001-12-01 00:00:00 | FERC certificate not accepted.  EPG to refile in August/September pending new open season for transport.
Project Seebreeze Phase III | TBD | Final monetization of Enron position. | $3.00 MM | N/A | 0.25 | 2001-12-01 00:00:00 | Pursue after initial transaction close.
Crestone | Northern Border Pipeline | 15,000 HP greenfield for NBP expansion. | $500 M (early) | 2001-05-23 00:00:00 | 0.25 | 2001-12-01 00:00:00 | Gathering information and discussing terms with customer.