Message-ID: <7702755.1075849658401.JavaMail.evans@thyme> Date: Tue, 6 Feb 2001 03:40:00 -0800 (PST) From: george.weissman@enron.com To: ed.mcmichael@enron.com Subject: Preston Exploration, LLC Cc: eric.moon@enron.com, john.grass@enron.com, john.griffith@enron.com, melissa.graves@enron.com, joan.quick@enron.com, kam.keiser@enron.com, gary.bryan@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: eric.moon@enron.com, john.grass@enron.com, john.griffith@enron.com, melissa.graves@enron.com, joan.quick@enron.com, kam.keiser@enron.com, gary.bryan@enron.com X-From: George Weissman X-To: Ed McMichael X-cc: Eric Moon, John Grass, John Griffith, Melissa Graves, Joan Quick, Kam Keiser, Gary Bryan X-bcc: X-Folder: \John_Griffith_Nov2001\Notes Folders\Discussion threads X-Origin: GRIFFITH-J X-FileName: jgriffit.nsf Ed, I am forwarding this to you since I understand that John Griffith is no longer in structuring. Could you (or Kam, if she's the appropriate party) please respond to Joan about sitara deal 555941 (and the corresponding desk to desk deal, 555681). Thanks. George x3-6992 ---------------------- Forwarded by George Weissman/HOU/ECT on 02/06/2001 11:29 AM --------------------------- From: Joan Quick on 02/06/2001 10:45 AM To: Kam Keiser/HOU/ECT@ECT cc: George Weissman/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, John Grass/Corp/Enron@ENRON, Lia Halstead/NA/Enron@ENRON, Derek Bailey/Corp/Enron@ENRON Subject: Preston Exploration, LLC St. Mary's Production LLC VPP Hunt Oil Company Myette Point Northwest Field St. Mary Parish, LA Contract 96054361 TGT Meters 9437 & 9502 the sitara tic #555941 [Bank of America] should not exist. there should no deal in sitara re BofA. 100% of the VPP vols s/b under the name of Brazos. Brazos is buying 100% of the physical gas. BofA is buying zero. The sitara tics needs to be adjusted so that Brazos is buying 100% of the gas, and BofA zero. Let me know if you need more information. joan ---------------------- Forwarded by Joan Quick/HOU/ECT on 02/06/2001 10:40 AM --------------------------- Enron North America Corp. From: George Weissman 02/06/2001 10:35 AM To: Joan Quick/HOU/ECT@ECT cc: Melissa Graves/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, John Grass/Corp/Enron@ENRON, John Griffith/Corp/Enron@Enron, Robert Cook/HOU/ECT@ECT, Robert Crockett/HOU/ECT@ECT, Lia Halstead/NA/Enron@ENRON Subject: Preston Exploration, LLC St. Mary's Production LLC VPP Hunt Oil Company Myette Point Northwest Field St. Mary Parish, LA Contract 96054361 TGT Meters 9437 & 9502 See notations in red below. George x3-6992 ---------------------- Forwarded by George Weissman/HOU/ECT on 02/06/2001 10:01 AM --------------------------- From: Joan Quick on 02/05/2001 07:20 PM To: George Weissman/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT cc: Subject: St. Mary's FEB First of the Month Nom, Myette Point Northwest Field St. Mary Parish, LA for feb, VPP gas: sitara tic #541136 shows 11,136/d, when it should really be 11,480/d. The other 344/d is on sitara tic #555941; the two tickets together total 11,480/d. You'll remember that the Bank of America tics were established by John Griffith's team. and re the excess gas tics [below], they do not match my first of the month [FOM] info below. Did the FOM change? The nom was in fact changed by Hunt at 2:00 pm on 1/31/2001. Hunt had inadvertantly provided you with North Central's nomination for the low volume meter, 9502, instead of Preston's nomination. Thus, the 2,997/d on the North Central page (note the 25% WI on your original documentation - I missed this clue also) provided to us on 1/25/2001 became 2,012/d on the Preston page provided to us on 1/31/2001. The GDA tic s/b 10% of the total excess amount, and this is less than that. Am I missing something? The Gas Daily ticket won't necessarily be 10% of the total. Here's what we do. We book the VPP volume on one set of firm tickets (actually 2 sets, since the VPP has been broken into a Brazos traunch and a Bank of America traunch) - see 541136, 555941, 553654 & 555681 (the last two tickets are the internal desk to desk deals). Then, based on Robert Cook's team's reserve review, we book as much excess gas on a second set of firm tickets as the reserve report indicates (the Firm Excess volume) - in this case, for the month of February, that number is 4,618/d - see 540814 & 594648. Finally, we "book" any residue remaining after the VPP volume and the Firm Excess volume on a set of spot, Gas Daily tickets - see 554222 & 555729. Originally, when we mistakenly thought the nomination at meter 9502 was 2,997/d, the corresponding spot, Gas Daily volume was 17,216/d minus 11,480/d minus 4,618/d or 1,118/d. When the renomination of meter 9502 (a downward adjustment of 985/d) took place, the 1,118/d became 133/d. Thus, the total booked, 16,231/d matches the 16,231/d nominated. Excess gas priced at IF: sitara tic #540814 Excess gas priced at GDA: sitara tic #554222 For your information, we deliver herewith a copy of the spreadsheet we will use to track this deal for February. thanks George x3-6992 thanks joan ---------------------- Forwarded by Joan Quick/HOU/ECT on 02/05/2001 07:00 PM --------------------------- From: Joan Quick on 01/25/2001 09:47 PM To: George Weissman/HOU/ECT@ECT cc: Gary Bryan/HOU/ECT@ECT, Phillip Ballard/NA/Enron@Enron Subject: Preston's FEB First of the Month Nom George, This is a follow up to the hard copies of the first of the month information that I put on your chair earlier today. Below is a summary/break out of the volumes and pricing. The VPP nom should be in the name of Brazos, and the excess in Preston's name. Do you know has Hunt been informed that the VPP nom will be in Brazos' name? It does not matter to me how you break out the VPP vols between the 2 delivery points - whatever is easiest for you. This spreadsheet is the same as what is above....