Bridgeline Holdings Announces Agreement With Occidental Chemical Corporation for Sale of Natural Gas.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Sept. 17, 2001 Bridgeline Holdings, L.P. (Bridgeline) announced today that it has executed a definitive agreement with Occidental Chemical Corporation (Occidental) for the sale of natural gas to Occidental's 778-megawatt cogeneration facilities in Taft, La. This long-term agreement provides for the delivery of nearly 165 billion cubic feet (BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter ) of gas at market-based rates over its five-year term. This agreement builds on a long-term relationship between Bridgeline and Occidental at the Taft site. Bridgeline sees this agreement as a key element in building on its strength to serve the new electrical generation demand throughout the region. This market requires firm, high-volume and deep-swing natural gas service to effectively meet the needs of this new class of merchant electricity generators. "We are eager to commence natural gas deliveries to the Taft facility and feel our unique combination of assets and merchant capabilities are well-positioned to serve this growing market," stated Hugh H. Connett, vice president of marketing and supply for Bridgeline. Bridgeline was established last year as a limited partnership between Texaco and Enron North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Bridgeline operates approximately 1,000 miles of pipeline from the Texas/Louisiana border to New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded serving industrial and utility industry customers. Bridgeline has 13 BCF of salt dome salt dome Largely subsurface geologic structure that consists of a vertical cylinder of salt embedded in horizontal or inclined strata. In the broadest sense, the term includes both the core of salt and the strata that surround and are “domed” by the core. storage capacity with broad access to significant Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east pipeline production and wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. supply. This press release contains a number of forward-looking statements within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In particular, statements made concerning Bridgeline's expected performance and financial results in future periods are based upon Bridgeline's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors known to Bridgeline, among others, could cause Bridgeline's actual results to differ materially from those described in the forward-looking statements including decreased demand for natural gas, mechanical failures, above or below-average temperatures, pipeline failures, worldwide and industry economic conditions, inaccurate forecasts of natural gas, increasing price and product competition, price fluctuations, production restrictions and environmental, health and safety regulations. In addition, you are encouraged to review Bridgeline's latest reports filed with the SEC. |
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