Printer Friendly

ENRON GAS SERVICES COMPLETES ACQUISITION OF ACCESS ENERGY CORPORATION

ENRON GAS SERVICES COMPLETES ACQUISITION OF ACCESS ENERGY CORPORATION
 HOUSTON, Oct. 28 /PRNewswire/ -- Enron Gas Services Corp. (EGS), a subsidiary of Enron Corp. (NYSE: ENE), announced today that it has completed the acquisition of Access Energy Corporation. The terms of the agreement were not disclosed.
 Access, the nation's first natural gas marketer, was formed in 1982 as Yankee Resources, Inc. and became Access i n 1988 after a management- led buyout. The company markets natural gas to nearly 10,000 industrial, institutional and commercial customers in 34 states. It is headquartered in Dublin, Ohio, and has offices in Chicago, Pittsburgh, Houston, San Francisco and Irvine, California. Access will continue to operate under its own name and staff.
 "We are pleased to have completed the transaction on schedule and now look forward to reaping the benefits of the combination," said Jeffrey K. Skilling, chairman and CEO of Enron Gas Srvices. "The two companies complement each other in terms of geographic areas and markets served. We fully expect Access' end-user market niche to grow as a part of a larger more diversified entity like Enron Gas Services."
 EGS is comprised of gas marketing, finance, risk management and power service businesses. The company also operates Houston Pipe Line (HPL), the nation's largest intrastae?line. EGS serves a national customer base with average merchant volumes of about 5 billion cubic feet per day (Bcf/d). In addition, HPL transports approximately 600 million cubic feet per day.
 Enron Corp., America's leading natural gas company with $10 billion in assets, operates the nation's largest natural gas transmission system; is a leading purchaser and marketer of long-term natural gas supplies; markets natural gas liquids and refined products nationally and worldwide; owns 80 percent of Enron Oil & Gas Company, one of the country's largest independent developers and producers of electricity in the United States and the United Kingdom, with extensive experience in combined heat and power installations. Enron Corp. is traded under the ticker symbol, "ENE."
 -0- 10/28/92
 /CONTACT: L. Diane Bazelides of Enron Corp., 713-853-6285/
 (ENE) CO: Enron Gas Services Corp.; Access Energy Corporation ST: Texas IN: OIL SU: TNM


AH -- NY130 -- 6299 10/28/92 17:42 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 28, 1992
Words:364
Previous Article:TYPE II DIABETES AND WEIGHT LOSS: IT'S NOT HOW MUCH YOU LOSE, IT'S HOW YOU LOSE IT!
Next Article:MEDICAL DEVICES ANNOUNCES FIRST QUARTER RESULTS
Topics:


Related Articles
ENRON POWER SERVICES SIGNS 20-YEAR GAS CONTRACT FOR SITHE ENERGIES GROUP'S INDEPENDENCE STATION
ENRON GAS SERVICES SIGNS LETTER OF INTENT TO PURCHASE STOCK OF ACCESS ENERGY CORPORATION
WILLIAMS, ENRON SIGN LETTER OF INTENT FOR SALE OF LOUISIANA PIPELINE SYSTEM
MIDWEST NATURAL GAS MARKET CENTER LAUNCHED BY FOUR MAJOR U.S. AND CANADIAN GAS COMPANIES
FEDERAL TRADE COMMISSION CLEARS GPM'S PURCHASE OF STOCK OF ENRON SUBSIDIARIES
Mitchell Energy, Chesapeake Energy And Enron Announce New Louisiana Pipeline, Processing Agreements
PanEnergy Field Services, Inc. Completes Citrus Energy Services, Inc. and Transok Acquisitions
Enron to Manage Gas Supply for Brooklyn Union
New Chicago to Wisconsin Pipeline Announced
El Paso Energy Announces Project With Enron to Construct New Pipeline From Georgia to Florida.

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