Printer Friendly

EL PASO NATURAL GAS COMPANY TO ACQUIRE ENRON CORP.'S 50 PERCENT INTEREST IN MOJAVE PIPELINE COMPANY

 EL PASO, Texas, March 17 /PRNewswire/ -- El Paso Natural Gas Company (NYSE: EPG) and Enron Corp. (NYSE: ENE) announced today that they have signed an agreement under which EPG will acquire Enron's 50 percent interest in Mojave Pipeline Company (Mojave) for approximately $40 million in cash. The agreement is subject to receipt of regulatory approvals and approval by the board of directors of EPG. Closing is scheduled to occur on or before June 1, 1993.
 Mojave currently operates a 361-mile interstate pipeline from Topock, Ariz., to Kern County, Calif., with a capacity of 400 million cubic feet per day (MMcf/d). In a separate action today, Mojave submitted construction and operation plans for its proposed Northward Expansion project to the Federal Energy Regulatory Commission (FERC) for approval. The proposed Northward Expansion will originate at the terminus of Mojave's existing system near Bakersfield, Calif., and extend north to Sacramento, the East Bay Area, Palo Alto and the South Bay.
 El Paso Natural Gas Company owns and operates one of the nation's largest field and mainline natural gas transmission systems, connecting natural gas supply regions in New Mexico, Texas, Oklahoma and Colorado to markets in California, Nevada, Arizona, New Mexico, Texas and Mexico.
 -0- 3/17/93 R
 /CONTACT: Norma F. Dunn, director - media and investor relations of El Paso Natural Gas Company, 915-541-5443/
 (EPG ENE)


CO: El Paso Natural Gas Company; Enron Corp. ST: Texas IN: OIL SU: TNM

GK -- NY072R -- 7347 03/18/93 09:38 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 18, 1993
Words:247
Previous Article:AMERICAN INTERNATIONAL GROUP, INC. DECLARES QUARTERLY COMMON STOCK DIVIDEND
Next Article:ANADARKO ANNOUNCES NOTES OFFERING TO REFINANCE DEBT
Topics:


Related Articles
EL PASO NATURAL GAS COMPANY TO ACQUIRE ENRON CORP.'S 50 PERCENT INTEREST IN MOJAVE PIPELINE COMPANY
ENRON GLOBAL POWER & PIPELINES TO ACQUIRE INTEREST IN CENTRAGAS NATURAL GAS PIPELINE
EL PASO ENERGY CORPORATION COMPLETES TENDER OFFER FOR CORNERSTONE NATURAL GAS, INC.
EL PASO ENERGY CORPORATION TO ACQUIRE TENNECO ENERGY
Enron Announces Financial Close of Capitalization of YPFB'a Transportation Segment
El Paso Field Services Company Agrees to Sell Interest in Viosca Knoll Gathering Company to Leviathan Gas Pipeline Partners L.P.
NEWSREEL.
El Paso Energy Corporation and Sonat Inc. Complete Merger, Create the Largest Natural Gas Pipeline System in North America.
El Paso Energy International Announces Intent to Acquire Interest in 1,800-MW Power Plant in Korea.
Southern Union, GE complete acquisition of CrossCountry Energy; Horton to manage.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters