Subject: Sulfur River
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 29 Mar 2001 17:30:00 -0800 (PST)

Here are the stray facts I mentioned:
  Sulfur River system:  1200 miles of gathering in East Texas and some treating/processing
  approx. 170 mmcf/d of throughput currently; significant growth expected from new drilling [?]
   EBITDA:  $40mm/yr
   Rex Kouri (sp?) is the founding equity in Sulfur River  (I haven't heard of him, but they acted like I should have) 
   An outfit named "Energy Spectrum" put $30 mm in equity into Sulfur River a few years ago and thinks now would be a good time to cash out
   $90 mm in debt
   $1/mmbtu gath/proc. margins
  The guys I talked to said the Sulfur River assets, coupled with the Koch upstream assets in the area, would make an interesting combined play.
   Koch was asking $200 mil. for their gathering assets a year ago or so--I don't know if its the exact set of assets that Pat and Jerry were suggesting we'd want to include in the package.

The two guys involved are Pat Keeley, of Friedman Billings and Ramsay in DC and Jerry Langdon (the ex-FERC Commissioner), who is an investor/dealmaker.  Let me know if you want me to get these guys to come in and pitch this deal to you/your team.  Reminder--Langdon is talking to Stan on the 10th on EOTT and he may bug Stan about this stuff, so it may be good to get to Stan first.  DF