RE: May Wellhead "Spot" Purchases

Vance,

Based on the information below, nominations are being revised effective May 1, 2001:

Counterparty Meter # Orig. Nom Rev. Nom

Barrett Resources 0435 1,536 0

Seneca Resources 0435 3,073 4,609

Total 4,609 4,609

Bob

From: Vance L Taylor/ENRON@enronXgate on 04/25/2001 08:42 AM
To: Robert Cotten/HOU/ECT@ECT
cc: George Weissman/HOU/ECT@ECT, Susan Smith/ENRON@enronXgate, Melissa Graves/ENRON@enronXgate
Subject: RE: May Wellhead "Spot" Purchases - Request

Bob,

HPLC continues to purchase gas from both Ocean and Seneca on a term basis; firm tickets were submitted for April origination beginning with the month of April. As for as Barrett, they are selling their gas under a JOA with Seneca; therefore, 100% of Barrett's production is being paid to Seneca. Consequently, you should see tickets in sitara for both counterparties.

Let me know is you can't.

vlt
x36353

-----Original Message-----
From: Cotten, Robert
Sent: Tuesday, April 24, 2001 6:20 PM
To: Taylor, Vance L.
Cc: Weissman, George
Subject: Re: May Wellhead "Spot" Purchases - Request

Vance,

Are we still purchasing gas at meter 435 from Barrett Resources, Ocean Energy and Seneca Resources? They were on George's spreadsheet but they are not termed up. The only deals termed up are Mariner, St. Mary Land, Walter Oil & Gas and The Meridian Resource.

Bob

From: Vance L Taylor/ENRON@enronXgate on 04/24/2001 04:25 PM
To: Robert Cotten/HOU/ECT@ECT
cc: Janie Aguayo/HOU/ECT@ECT, Lisa Hesse/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Cynthia Hakemack/HOU/ECT@ECT, Donald P Reinhardt/ENRON@enronXgate, Susan Smith/ENRON@enronXgate, Melissa Graves/ENRON@enronXgate, George Weissman/HOU/ECT@ECT
Subject: May Wellhead "Spot" Purchases - Request

Bob,

HPLC will be purchasing wellhead gas from the producers listed below for the production month of May, 2001. This production will be purchased on a "spot" basis and deal tickets should be created and entered into sitara based on the following information:

Counterparty Meter Volume Price
Apache Corporation 0435 1409mmbtu/d 100% IF/HSC less $0.10
Whiting Petroleum Corp 6523 113mmbtu/d 85% IF/HSC
El Paso Merchant Energy, LP 5923 622mmbtu/d 100% IF/HSC less $0.26
El Paso Merchant Energy, LP 5848 203mmbtu/d 85% IF/HSC Swift Energy 2630 21mmbtu/d 100% IF/HSC less $1.38
Duke Energy Trading & Marketing 6347 147mmbtu/d 85% IF/HSC
HESCO Gathering Oil Co. 6063 289mmbtu/d 85% IF/HSC
Embassy Natural Gas Inc. 6598 1mmbtu/d 85% IF/HSC
Stone Energy 9696 2745mmbtu/d 100% IF/HSC less $0.20
The Houston Exploration 9696 3407mmbtu/d 100% IF/HSC less $0.20
Amerada Hess (Hess Energy Svcs) 0435 1104mmbtu/d 100% IF/HSC less $0.14
Crosstex Energy Services, Ltd. 0435 656mmbtu/d 100% IF/HSC less $0.12
Tri-Union Development 0435 149mmbtu/d 100% IF/HSC less $0.055
Ranger Oil Company 9871 200mmbtu/d 85% IF/HSC if <300/d
90% IF/HSC if <300/d

These are Producer Svcs. deals and should be tracked in the IM Wellhead portfolio... attached to the gathering contract.

ADDITIONALLY, If at all possible, please do not confirm the Apache and Crosstex deals as we expect to receive term firm contracts in the very near future.

Thanks,

vlt
x3-6353