El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
9-Nov-2005
El Paso Corporation Announces Uinta Basin Expansion Project HOUSTON, Nov. 9 /PRNewswire-FirstCall/ -- Wyoming Interstate Company
(WIC), a subsidiary of El Paso Corporation (NYSE: EP), announced today the
Uinta Basin Expansion Project, which will provide additional natural gas
transportation capacity for increasing production in eastern Utah's Uinta
Basin. Kerr-McGee (NYSE: KMG), a major producer in the Rockies with growing
Uinta Basin volumes, has signed an agreement outlining the commercial terms
under which it will contract for firm transportation to anchor the expansion
project.
"Our Colorado Interstate Gas (CIG) subsidiary has been one of the early
transporters out of the Uinta Basin, and this project reinforces our strategic
development in this high-growth region," said James J. Cleary, president of El
Paso's Western Pipelines. "Not only will this critical expansion provide Uinta
producers, marketers, and other shippers a critical, direct link to important
Rockies trading points, it will give customers across the country additional
access to Uinta Basin gas supplies."
The project will add a 128-mile, 20- or 24-inch pipeline from processing
facilities near CIG's Natural Buttes Plant in Uintah County, Utah, to Kanda,
an interconnection point with the Overthrust Pipeline and WIC in Sweetwater
County, Wyoming. The new pipeline, which will add capacity of between 250,000
to 350,000 dekatherms per day, will also provide interconnects with Northwest,
Questar, Questar's Clay Basin Storage, and CIG. In addition, WIC will expand
its mainline system from Kanda, east to Wamsutter, Wyoming, to accommodate
additional volumes.
WIC is holding a binding open season for the Uinta Basin Expansion Project
and will use the results to determine the final capacity needed for the
project. The anticipated in-service date is January 2008. The binding open
season began November 4, 2005 and will end on November 30, 2005. For more
information or to request an open season packet, please contact Craig Coombs
at (719) 520-4387 or craig.coombs@elpaso.com .
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. The company owns North America's
largest natural gas pipeline system and one of North America's largest
independent natural gas producers. For more information, visit
http://www.elpaso.com .
Cautionary Statement Regarding Forward-Looking Statements
This release includes forward-looking statements and projections, made in
reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The company has made every reasonable effort to ensure
that the information and assumptions on which these statements and projections
are based are current, reasonable, and complete. However, a variety of factors
could cause actual results to differ materially from the projections,
anticipated results or other expectations expressed in this release,
including, without limitation, the receipt of the necessary capacity
commitments for the project described in this release; the receipt of
necessary governmental approvals for such project; our ability to obtain all
necessary regulatory approvals and to successfully construct and operate the
proposed facilities described in this release; general economic conditions in
geographic regions or markets served by El Paso Corporation and its
affiliates, or where operations of the company and its affiliates are located,
and other factors described in the company's (and its affiliates') Securities
and Exchange Commission filings. While the company makes these statements and
projections in good faith, neither the company nor its management can
guarantee that anticipated future results will be achieved. Reference must be
made to those filings for additional important factors that may affect actual
results. The company assumes no obligation to publicly update or revise any
forward-looking statements made herein or any other forward-looking statements
made by the company, whether as a result of new information, future events, or
otherwise.
SOURCE El Paso Corporation
11/09/2005
CONTACT: investor and public relations, Bruce L. Connery, Vice
President, 1-713-420-5855, or media relations, Richard Wheatley, Manager, 1-713-420-6828, both of El Paso Corporation/
1023 11/09/2005 16:34 EST http://www.prnewswire.com
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