Subject: Sulfur River
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 29 Mar 2001 06:30:00 -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