Message-ID: <3501430.1075849652393.JavaMail.evans@thyme> Date: Tue, 28 Nov 2000 06:48:00 -0800 (PST) From: george.weissman@enron.com To: william.kelly@enron.com Subject: Re: Cabot Oil & Gas Marketing Corporation Cc: jeffrey.gossett@enron.com, scott.neal@enron.com, victor.lamadrid@enron.com, sandy.olitsky@enron.com, john.griffith@enron.com, melissa.graves@enron.com, jill.zivley@enron.com, linda.roberts@enron.com, bob.hall@enron.com, shawna.flynn@enron.com, robert.superty@enron.com, edward.terry@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: jeffrey.gossett@enron.com, scott.neal@enron.com, victor.lamadrid@enron.com, sandy.olitsky@enron.com, john.griffith@enron.com, melissa.graves@enron.com, jill.zivley@enron.com, linda.roberts@enron.com, bob.hall@enron.com, shawna.flynn@enron.com, robert.superty@enron.com, edward.terry@enron.com X-From: George Weissman X-To: William Kelly X-cc: Jeffrey C Gossett, Scott Neal, Victor Lamadrid, Sandy Olitsky, John Griffith, Melissa Graves, Jill T Zivley, Linda Roberts, Bob M Hall, Shawna Flynn, Robert Superty, Edward Terry X-bcc: X-Folder: \John_Griffith_Nov2001\Notes Folders\Discussion threads X-Origin: GRIFFITH-J X-FileName: jgriffit.nsf Will, consistent with the tickets we provided you earlier today, you entered the following deals with the volumes indicated in the column "11/28/00 Tickets": Tennessee 11/28/00 10/26/00 Tickets Quote Baseload Cabot: #505762 11,280 9,136 D2D: #505910 Swing: Cabot: #505855 2,820 2,284 D2D: #505913 Transco Baseload Cabot: #505870 14,720 14,400 D2D: #505892 Swing Cabot: #505880 3,680 3,600 D2D: #505902 But, the volumes cited in the tickets prepared today were not consistent with the volumes for which the East Desk originally provided price quotes based on the volumes we cited on 10/26/00. I have spoken with Scott Neal and he is agreeable to allowing us to amend the Sitara deals to reflect the 10/26/00 volumes rather than the 11/28/00 volumes. Please, therefore, substitute the Quoted volumes for the Ticketed volumes on the 8 deals listed above. Thanks much. I have prepared and attach herewith revised tickets. George x3-6992 ---------------------- Forwarded by George Weissman/HOU/ECT on 11/28/2000 02:20 PM --------------------------- Enron North America Corp. From: George Weissman 11/28/2000 10:18 AM To: Jeffrey C Gossett/HOU/ECT@ECT cc: Scott Neal/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Sandy Olitsky/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 Jeff, Following my discussion with Bob Hall earlier today, we've changed the two desk-to-desk tickets to reflect the full 100% volume - 14,100 Mmbtu/d on Tennessee and 18,400 Mmbtu/d on Transco. A set of six tickets - 3 for each deal - is attached. Please enter these tickets into Tagg and Sitara, or advise me if you require additional documentation. Thanks. George x3-6992 THESE TICKETS BECAME OBSOLETE AT 2:47 PM ON 11/28/2000: ---------------------- Forwarded by George Weissman/HOU/ECT on 11/28/2000 10:04 AM --------------------------- Enron North America Corp. From: George Weissman 11/28/2000 08:50 AM To: Scott Neal/HOU/ECT@ECT cc: Victor Lamadrid/HOU/ECT@ECT, Sandy Olitsky/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 1) Is this deal done? No, not yet. Cabot is reviewing our new Enfolio long term contract and has suggested some minor modifications. Also, this new long term contract form is awaiting final Legal Department approval - we expect this imminently. Finally, our reservoir engineers are scheduled to visit Cabot's offices on 12/5/2000 to review their downhole data - we will not enter into a long term contract until a full reserve review has been completed. 2) What is the firm quantity? The quantitiy should be fixed. For December, the firm quantity on Tennessee is 11,280 Mmbtu/d, or 80% of the 14,100 Mmbtu/d we expect to flow. The firm quantity on Transco is 14,720 Mmbtu/d, or 80% of the 18,400 Mmbtu/d we expect to flow. We intend to keep the desk whole on these firm quantities. 3) Who is communcating with Cabot from a logisitics/volume management point of view? We expect to communicate with Cabot from a logistics/volume management point of view. 4) Why are we nominating ( instead of ENA Upstream) and which group is responsible for balancing on Tenn and Transco? We intend to do whatever is necessary to get the gas to pipeline pooling points and thereupon turn it over to each Desk's logistics team. We do not see the need to duplicate our existing logistics function. Scott Neal 11/27/2000 06:57 PM To: George Weissman/HOU/ECT@ECT cc: Victor Lamadrid/HOU/ECT@ECT, Sandy Olitsky/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 1) Is this deal done? 2) What is the firm quantity? The quantitiy should be fixed. 3) Who is communcating with Cabot from a logisitics/volume management point of view? 4) Why are we nominating ( instead of ENA Upstream) and which group is responsible for balancing on Tenn and Transco? Enron North America Corp. From: George Weissman 11/27/2000 06:26 PM To: Victor Lamadrid/HOU/ECT@ECT cc: Sandy Olitsky/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 Victor, Are you guys nominating/confirming this gas on Tennessee Passkey and Transco Transit for December or are we? We expect that as the deals are entered into Sitara, you will be asked to nominate and confirm this gas. Are there going to be two sets of tickets for each deal (one for the firm volume and one for the swing)? We'll need those deal numbers when you have them.. Actually, we've prepared 3 deal tickets for each deal. One ticket is for the 80% firm purchase (first of the month index pricing) from Cabot by Upstream, the second ticket is for the 20% spot purchase (gas daily pricing) from Cabot by Upstream and the third ticket is the desk-to-desk transaction in which Upstream sells the 80% firm volume to the East Desk - this is the ticket which will generate origination to the Upstream Desk, if applicable. Are you scheduling this internally in Unify or are we? You are. George x3-6992 Enron North America Corp. From: Victor Lamadrid 11/27/2000 05:56 PM To: George Weissman/HOU/ECT@ECT cc: Sandy Olitsky/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Shawna Flynn/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 George/Sandy, Are you guys nominating/confirming this gas on Tennessee Passkey and Transco Transit for December or are we? Are there going to be two sets of tickets for each deal (one for the firm volume and one for the swing)? We'll need those deal numbers when you have them.. Are you scheduling this internally in Unify or are we? Please let me know as soon as possible as noms for December 1 are due to the pipelines by 11:30 this Thursday morning! THANKS! Enron North America Corp. From: George Weissman 11/27/2000 04:37 PM To: Sandy Olitsky/HOU/ECT@ECT cc: John Griffith/Corp/Enron@Enron, Melissa Graves/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Linda Roberts/NA/Enron@Enron, Bob M Hall/NA/Enron@Enron, Victor Lamadrid/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT Subject: Re: Cabot Oil & Gas Marketing Corporation Turtle Bayou Field Continental Land & Fur 58 #2 Well Terrebonne Parish, LA Facility 514800, Transco Zone 3 Kent Bayou Field Continental Land & Fur 11 #1, 24 #1 & 28 #1 Wells Terrebonne Parish, LA Facility 820010, Tennessee La. Zone 1 Sandy, Attached are the tickets we intend to submit to document the two (2) deals with Cabot for December. Once you and John have had an opportunity to review these tickets, Melissa and I would like to come down and walk them through the system. Thanks. Cabot has agreed to do the December deals at index minus $0.01 for 80% of their volume and gas daily minus $0.01 for the remaining 20% of their volume. We expect that they will soon execute the long term paper providing for index minus $0.005 for the 80% firm traunch and gas daily minus $0.005 for the 20% spot traunch; a set of new long term tickets will be prepared and submitted upon execution of the long term paper. If this mechanism of documenting our deals works, we intend to submit all future deals in a similar manner. George x3-6992 Attachment deleted 11/28/00 @ 10:17 am ---------------------- Forwarded by George Weissman/HOU/ECT on 11/27/2000 04:12 PM --------------------------- Enron North America Corp. From: Sandy Olitsky 11/27/2000 11:07 AM To: George Weissman/HOU/ECT@ECT cc: Subject: Cabot Quotes Dec Only George: Scott Neal gave me the following quotes for your December only volumes: Transco Zn3 WH: Index +.01 minus IT feeder to Ste. 65 Tenn. ZL500: -.01 Let me know if you need anything else. Thanks. Sandy