Message-ID: <514926.1075854618560.JavaMail.evans@thyme> Date: Thu, 27 Jan 2000 04:33:00 -0800 (PST) From: eric.bass@enron.com To: melissa.graves@enron.com Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price Cc: stephanie.gomes@enron.com, phillip.love@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: stephanie.gomes@enron.com, phillip.love@enron.com X-From: Eric Bass X-To: Melissa Graves X-cc: Stephanie Gomes, Phillip M Love X-bcc: X-Folder: \Eric_Bass_Dec2000\Notes Folders\All documents X-Origin: Bass-E X-FileName: ebass.nsf June-August were incorrect in Sitara. I have made the necessary adjustments. Stephanie will have to reissue payments. By my calculations, Cabot owes HPL $16,050. See Below Month Volume/d Rate was Rate Should Be Economics 6/99 5000 $2.09 $2.20 $ (16,500) This Should be Sharp's expense as this was pre-merger. 7/99 5000 $2.14 $2.20 $ (9,300) This Should be the desk's 8/99 5000 $2.47 $2.20 $ 41,850 This Should be the desk's $ 16,050 Enron North America Corp. From: Melissa Graves 01/26/2000 03:04 PM To: Stephanie Gomes/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT cc: Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price Eric, Why would this ticket only affect Sept. and not the other months? Melissa From: Stephanie Gomes 01/26/2000 02:47 PM To: Melissa Graves/HOU/ECT@ECT cc: Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price I am only showing a price adjustment for 9/99. No adjustments for June- August occurred. Enron North America Corp. From: Melissa Graves 01/26/2000 01:43 PM To: Stephanie Gomes/HOU/ECT@ECT cc: Eric Bass/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price Stephanie, The deal ticket that Eric mentions below that changed the tiered pricing is EW5406.1 (which fixes the price to $2.35 from 6/1/99-9/30/99). I was wondering if you showed price adjustments to June-August, in addition to September (since this ticket affects all months). Let me know, and then I'll call Laurie Clarkson with Cabot Oil & Gas and ask her to run this past her trader (Kent Beard) and make sure we are all on the same page. Thanks, Melissa ---------------------- Forwarded by Melissa Graves/HOU/ECT on 01/26/2000 01:12 PM --------------------------- Enron North America Corp. From: Eric Bass 01/26/2000 11:46 AM To: Melissa Graves/HOU/ECT@ECT cc: Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price I show five fixed for float swaps done for September Production. The deal numbers and prices follow: Deal # Vol Swap Px Resulting Customer Px ES5823.20 5,000/d $2.21 $2.10 ES5823.21 5,000/d $2.21 $2.10 ES5823.30 10,000/d $2.7475 $2.5975 EW2883.1 10,000/d $2.265 $2.155 EW5406.1 5,000/d $2.35 $2.15 Let me know if this clears everything up. Eric x3-0977 Enron North America Corp. From: Melissa Graves 01/26/2000 11:17 AM To: Eric Bass/HOU/ECT@ECT cc: Stephanie Gomes/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price Eric, Can you please help per Stephanie's note below. The audit record shows that you changed the tiered pricing on this Cabot deal for 9/99. Both Stephanie and myself thought that Cabot and HPL were in agreement on these prices for September. Can you provide insight into why the tiers were changed for this month? Thank you, Melissa ---------------------- Forwarded by Melissa Graves/HOU/ECT on 01/26/2000 11:14 AM --------------------------- From: Stephanie Gomes 01/26/2000 10:43 AM To: Melissa Graves/HOU/ECT@ECT cc: Subject: Re: Cabot Oil & Gas Marketing Corp. - 9/99 production - price Melissa, Someone has changed one of the price tiers on Cabot for 9/99 production. Due to the price change, it is now showing that I need to take a credit of $ 52,996.72 from Cabot. Is this correct or not???? I thought we had figured the pricing out for 9/99 and Cabot had also agreed. Please let me know if the price change is correct or not, and if I need to take this credit from Cabot. See below the change that was made in Sitara and I am also showing what we paid versus what is now showing up in the system. Original payment ( per your email below ) 0 - 10,000 $2.1000 10,001 - 20,000 $2.1550 20,001 - 30,000 $2.5975 30,001 + $2.7100 Change that has been made in system 0 - 10,000 $2.1000 10,001 - 20,000 $2.1550 20,001 - 30,000 $2.5975 30,001 - 35,000 $2.1500 35,001 - 50,000 $2.7100 Enron North America Corp. From: Melissa Graves 11/01/99 02:28 PM To: Shawna Flynn/HOU/ECT@ECT, Stephanie Gomes/HOU/ECT@ECT cc: Jill T Zivley/HOU/ECT@ECT, Janelle Scheuer/HOU/ECT@ECT Subject: Cabot Oil & Gas Marketing Corp. - Amendment and Confirmations to Contract dated 12/1/98 Shawna, Per my voice mail, please add the following confirmations in addition to the items you are sending to Cabot: Period of Delivery: September 1999 Price: $2.7475 Flexible Pricing Volume: 10,000/d Date Agreed: 8/9/99 Period of Delivery: November 1999 Price: $2.925 Flexible Pricing Volume: 5,000/d Date Agreed: 10/13/99 Period of Delivery: November 1999 Price: $2.9325 Flexible Pricing Volume: 10,000/d Date Agreed: 10/13/99 Period of Delivery: November 1999 Price: $2.935 Flexible Pricing Volume: 10,000/d Date Agreed: 10/20/99 Stephanie, Below, please find the revised pricing matrix. Please adjust Sitara and pay Cabot accordingly: SEPTEMBER: 0 - 10,000 HSC fixed at $2.21 $2.21-$0.11= $2.10 Have deal ticket 10,001 - 20,000 HSC fixed at $2.10 $2.265-$0.11= $2.155 Per deal ticket, requested copy 20,001 - 30,000 HSC fixed at $2.7475 $2.7475-$0.15= $2.5975 Per deal ticket, requested copy 30,001+ $2.91-$0.20= $2.71 Per original contract NOVEMBER: 0 - 5,000 HSC fixed at $2.925 $2.925-$0.11= $2.815 Per deal ticket, requested copy 5,001 - 15,000 HSC fixed at $2.9325 $2.9325-$0.11= $2.8225 Per deal ticket, requested copy 15,001 - 20,000 HSC fixed at $2.935 $2.935-$0.11= $2.825 Per deal ticket, requested copy 20,001 - 25,000 HSC fixed at $2.935 $2.935-$0.15= $2.785 Per deal ticket, requested copy 25,001 - 30,000 $HSC -$0.15= $PRICE Per original contract 30,001+ $HSC-$0.20= $PRICE Per original contract Thank you, Melissa Graves X39173 ---------------------- Forwarded by Melissa Graves/HOU/ECT on 11/01/99 02:15 PM --------------------------- Enron North America Corp. From: Melissa Graves 10/18/99 11:16 AM To: Shawna Flynn/HOU/ECT@ECT, Stephanie Gomes/HOU/ECT@ECT cc: Jill T Zivley/HOU/ECT@ECT, Janelle Scheuer/HOU/ECT@ECT Subject: Cabot Oil & Gas Marketing Corp. - Amendment and Confirmations to Contract dated 12/1/98 Shawna, Per my voice mail, please send the amendment to the above referenced contract, to allow for Flexible Pricing transactions. (Jill Zivley has reviewed and approved the draft amendment.) Please also attach confirmations with the following details regarding Flexible Pricing deals that have been done with Cabot Oil & Gas Marketing Corp.: Period of Delivery: May 1999 Price: $2.035 Flexible Pricing Volume: 10,000/d Date Agreed: 3/7/99 Period of Delivery: Jun 1999 - Aug 1999 Price: $2.10 Flexible Pricing Volume: 5,000/d Date Agreed: 4/8/99 Period of Delivery: Jun 1999 - Aug 1999 Price: $2.05 Flexible Pricing Volume: 5,000/d Date Agreed: 4/7/99 Period of Delivery: Jun 1999 - Sept 1999 Price: $2.21 Flexible Pricing Volume: 10,000/d Date Agreed: 5/12/99 Period of Delivery: Sept 1999 Price: $2.265 Flexible Pricing Volume: 10,000/d Date Agreed: 4/22/99 Period of Delivery: Oct 1999 Price: $2.565 Flexible Pricing Volume: 15,000/d Date Agreed: 7/26/99 The address for Cabot is: Cabot Oil & Gas Marketing Corporation P. O. Box 4544 Houston, Texas 77210 Stephanie, Below, please find the revised pricing matrix. Please adjust Sitara and pay Cabot accordingly: MAY: 0 - 10,000 HSC fixed at $2.035 $2.035-$0.11= $1.925 Have deal ticket 10,001 - 20,000 $2.35 - $0.11= $2.24 Per original contract 20,001 - 30,000 $2.35 - $0.15= $2.20 Per original contract 30,001+ $2.35 - $0.20= $2.15 Per original contract JUNE AND JULY AND AUGUST (same for both months): 0 - 5,000 HSC fixed at $2.05 $2.05-$0.11= $1.94 Have deal ticket 5,001 - 10,000 HSC fixed at $2.10 $2.10-$0.11= $1.99 Have deal ticket 10,001 - 20,000 HSC fixed at $2.21 $2.21-$0.11= $2.10 Have deal ticket 20,001 - 30,000 $2.24-$0.15= $2.09 June Per original contract $2.29-$0.15= $2.14 July Per original contract $2.62-$0.15= $2.47 August Per original contract 30,001+ $2.24-$0.20= $2.04 June Per original contract $2.29-$0.20= $2.09 July Per original contract $2.62-$0.20= $2.42 August Per original contract SEPTEMBER: 0 - 10,000 HSC fixed at $2.21 $2.21-$0.11= $2.10 Have deal ticket 10,001 - 20,000 HSC fixed at $2.10 $2.265-$0.11= $2.155 Per deal ticket, requested copy 20,001 - 30,000 $2.91-$0.15= $2.76 Per original contract 30,001+ $2.91-$0.20= $2.71 Per original contract OCTOBER: 0 - 15,000 HSC fixed at $2.565 $2.565-$0.11= $2.455 Per deal ticket, requested copy 15,001 - 20,000 $2.54-$0.11= $2.43 Per original contract 20,001 - 30,000 $2.54-$0.15= $2.39 Per original contract 30,001+ $2.54-$0.20= $2.34 Per original contract Thank you, Melissa Graves X39173