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I would like to add electronic index descriptions to the database. Please refernece Gas Daily publication, page three for the location of these indices. We can simply insert the location of the electronic index where we currenly have the gas daily index survey language in the gd swaps in the database. I would like ...
Electronic index descriptions
Anne, We would like to know the P&L for trading California gas this year for physical only. Please run a report summarizing the P&L at Socal Topock, PG&E Topock, Socal Ehrenberg, Ca Production, PG&E Topock, Malin, etc. We will then need to notify John Lavorado of the results. Thanks,
CA Report
Good morning. With the energy crisis in California at this time, we will need to be extra careful with nominations at Socal and throughout the west to ensure that we continue to provide the excellent nomination service that we have been providing to our customers. You guys are doing an excellent job and we understa...
Socal ATM nominations
It looks like Anne accidentally include two Sumas trades in the Rockies data priced at 13.90 and 14.00. She will send out a revised spreadsheet on Thursday. The Rockies Opal wacog will then be $5.913. Sorry for the error. Sincerely,
Enron bidweek prices
Okay, I think the tds tab in newcurrentday was wrong. It is showing a jan pos of 269.55 lots, but TDS is showing 539.1. False alarm. We will fix newcurrentday. Mike
PG&E Citygate Basis position for January
The PG&E basis position in TDS does not match the FEB/MAR position. The Baja spread was executed as a NOV-MAR position months ago. The only real changes were to Socal basis over time. There is no telling when this might have changed in error. Will you please research the position to see when this position was reduc...
PG&E Citygate Basis position for January
Are we confident that the gda priced positions are not being represented in my newcurrentday position sheet? I know that Phillips triggered their volumes back to GDA equivalent and that Matt Lenhart bought some GDA malin gas. How do we keep these from showing up in the physical risk? Mike
physical gda volumes
The position sheet from yesterday afternoon, close of business, is quite different than the position posted in newcuurentday for 11/29. What do you think the difference is? The SJ, Perm, and Socal don't match. Are we booking them correctly. Let me know. Ask Anne to reconcile each day with comments on the prompt tab....
newcurrentday
We will need to discuss how to adjust physical risk to match the flow constraints on EPNG. The currrent capacity cuts in the SJ and Socal topock delivery points are 50%. I would like my P&L to show this risk. Please find a way to adjust the positions according to a daily flow curve that can be set in newcurrentday ...
IM WEST Book
Please create the following monthly for daily swap. IF GD/D CIG (N SYS). The GD index is listed under CIG (N. Sys) on page two. The monthly index is listed as CIG Rocky Mountain. Thank you,
CIG
Hey guys. Let's try this. Take the data from 2000 and change the following. Take Keystone West volumes to 850,000/d rateably, then add the new gen numbers posted below. You will need to add this demand to the EOC S ML demand numbers (Is Salmayuca included in this number?). We should use the 2000 waha west volumes f...
APR-OCT Analysis
This is the data that we will use to build our Socal growth estimates. Take a look at the file and then we can discuss how to combine this with current pipeline capacity and future expansions. Mike
New Generation as of Oct 24th
Ina, I can't seem to find the expense deposit for the SW Bell charges in my account. Will you please contact them again and ask them for a copy of the check? Thank you so much. Mike
SW Bell expense
After continuing to play musical chairs with the west eol products, I think we have decided on a plan. Keith and Frank will handle the prompt and term basis. This includes the monthly basis, daily basis, and gd index for SJ, ROX, Scal, CG, and Malin. They will make certain that the gd index products are out there f...
EOL Products
Anne, After NX1 going forward, I would like to load my final positions in the LIQBasis tab in NCD. The positions will include basis, physindex and gd index positions. We can then run settlement index scenarios to see what my risk will be to index postings. This will be a huge benefit. Gracias, Mike
LIQBAsis tab
Please read the following email from EOL. I have asked them to assist the West desk in mailing out an ad to all of our customers (utilities, producers, industrials, and some IPPs) notifying them of our plan to reduce the minimum volume accepted on all of our EOL products. Start thinking of which customers should be...
customer mailout
Please add PG&E citygate GD/D - HHub GD (basis) to the database. Also, I would like to check on the status of the Baja spread product. Please sweep the new products in FIN basis, Fin swaps, and non-tx physical <or= to 1 month. Thanks,
new products
Please order two new monitors for me. I will be adding the two to the left of the four screens I currenly have. please request the arms as well. thanks
new monitors
We need to run regression on this load profile for Palo Alto. We should back out the industrial class and run their residential load. Can you find reliable weather for Palo Alto? Kim Ward is signing a full requirements deal with Palo on PG&E. Thanks,
Palo Alto load information
Mo, Are your reports still available for EOL that you created months ago? I would like to turn them over to the fundies group ( Matt Smith) tomorrow. Mike
EOL reports
Dear Tom, Enron would be interested in getting together with other trading partners to discuss listing other index points at the Socal border. I think the market requires other postings to reflect the fundamental changes in the market with respect to transportation constraints. The market has clearly seen a diver...
SOCAL
Ina, I need to add my son, Clark Watson, to my beneficiary list for medical, etc. Please let me know what I need to do to complete this task. Thank you,
Medical Insurance
Tom, See the email below for the ID and password. Call me on Monday to discuss the download process, if you should have any questions. You will log into www.enrononline.com and I think you will need to download shockwave media (the site should walk you through this process). Once you have typed in the ID and passwor...
Gas Daily Request
The guest view only password is in the process of being approved. I apologize for the delay. I will send you the information as soon as I get it. Sincerely,
EOL password
Anne, I would like to check the index positions in the physindex tab in NCD. Please have all of the positions in the BasisTransport tab, section transport model, added to the phys index position totals. Please look at the PG&E CG positions for May-Oct, I added the transport positions already. I would like to add a ...
Physical Index positions in NCD
Steve, Start buying N-M citygate index this week. Pay as much as necessary to get resonable size. I am thinking 100,000/d for the winter. Grigsby
PG&E citygate index N-M
Let's continue to buy Socal for the rest of the month. I would like to sell Rockies, and remian neutral on Permian and San Juan, unless it looks like the maint on washington ranch will have a bullish effecst on the basins. I will leave it up to you to determine. I will call later. Mike
GD products
Can we create a San Juan phys for Oct bidweek? What did we decide with this product - swing only? If we do, I would like to link it to the basis plus nymex, or to the fixed price gas daily (fixed price gas daily will be rolled out during bidweek this month because of our risk in gd basis going forward). I want to r...
EP San Juan phys
Please contact Keith Holst if you should have any questions regarding the new spread products. Please let him know when they are completed. I will be out of the office until Wednesday. Thank you very much. Mike Grigsby
Baja and redwood spreads
I am sure that you are aware of the move to daily basis from monthly. The west desk will be trying to phase out monthly for daily in the next month. We have created term gd basis vs. the HHub gd through apr-oct 01 for all index points. Grigsby
GD Basis products
I created the term gd basis products for waha, perm, sj, opal, and malin this weekend. Call Dale or Melba to activate. Keith and I briefly discussed how we would handle the new responsibility. I am fine with managing the prompt month gd basis, while you guys manage the term. I will be back in the office this week a...
GD Basis products
Greg, I wanted to forward this letter to you that I received from a good friend of mine who is interested in discussing global steel trading oppotunities with Enron. If you don't mind, I would like to have Chase Belew call you to possibly set up a meeting. I work on the west gas trading desk. You can reach me at x3...
Meeting with Enron Networks
Bruce, I work with Phillip Allen in West Gas Trading and he talked to Greg Piper about the letter attached below, and Greg told us to forward it to you. Mr. Chase Belew and Mr. Carleson, with E*Steel, would like to meet with you to discuss market opportunities in the global steel market. I would like to have Mr. B...
Meeting with Enron Networks
Dale, Will you please create the following products for me when you get the chance? I would like to have GD/D HHUB vs EP San Juan, GD/D HHUB vs. EP Permian, GD/D HHUB vs. Malin, and GD/D HHUB vs. Kern/Opal. These will look like the GD/D HHUB vs. SCal that we currently have in EOL. Also, Can I please create thre...
New Products
I would like to see if the following applications are installed in the Trading Cluster. TDS position manager, CQG, Dow Jones telerate, IP TV Viewer, Microsoft Internet Explorer. Thank you.
Terminal server - Trading Cluster
Please have the technician bring another network cord for the laptop. I would like to connect it to the nortel hub as well. My laptop is here at work, so if they need it to install the VPN, etc., please let me know. Thanks,
Nortel box
Jay and Matt, We should get together and build a gas consumption model for the new generation in the west. We should identify the delivery point and then continue to monitor their status. This will provide us with more information behind our Socal/Rockies spread. Thanks,
new build
Jeff, Thank you for the resume. I am interested in talking to you about Jennifer Bagwell, as well as discussing the possibility of moving Susan Scott back to my book. I will talk to you tomorrow. Sincerely,
GD NEW
I received a notice to provide feedback on Jose Marquez. My review is brief, but very favorable. The west desk is very pleased with Jose's contribution. He has gone out of his way to assist each of us. Jose communicates the weather and its impact very clearly. Let me know if you need additional information. Sincerel...
Performance
Craig, Did you ever follow up with Kim Ward and the desk on the contract language for the deal or deals you did with CA endusers? We need to make certian that the customers are signed to the correct contract for balancing, etc. Please get with me to discuss. Mike Grigsby
CA endusers
Anne, can we add the new pg&e topock curve to the basis transport tab? Also, the LT transport section is showing the transport positions through 2002, which is incorrect. Please review the transport deals in the model and delete the positions. Thanks,
NCD
We need to talk about the contract language for Holly Sugar. Please see Kim Ward about some of the language we have used for full-req customers on PG&E. Thanks,
Holly Sugar?
Anne, Can we add PG&E Topock and Mojave Topock index points to the NCD locations? I think we discussed that they can't be added because of their association with Socal curves. Let me know. Also, can we add the new rockies index locations to the NCD sheet? It would be nice to see these locations broken out in detail....
NCD sheet
We need to make certain that the transport for Pasdena is booked properly in sitara. I am taking a flash to actual hit on P&L because of our inability to book this deal properly. I need the transport booked in sitara at index to index, and then book the fixed cost payed to Pasadena in an index minus sale to them a...
Pasadena
Jay, what are we doing with questar positions? Are you managing this index point? I have an April position and Mark Whitt is working on a term deal. Thanks,
Questar positions
Please write up a ticket transferring my CIG and WIC April physical positions to IM denver. I will be selling CIG index to Jay at CIG index flat and buying the 2000/d at CIG index minus .03. Also, run a report of all my term index positions at CIG and WIC for the summer, so that we can transfer these to Jay as well...
CIG and WIC
Anne, We will need to add a message to the email that we send out to the publications this bidweek. Let's get together to discuss the text. We have added new products that will need to be matched with their respective Index postings. Thanks,
West Index spreadsheet for bidweek
Ken called yesterday and we bought 5000/d april from him at 4.87. He said it could be either Milagro or El Paso SJ. Please call him and confirm the receipt point. Thanks,
Philips SJ
Please review the transport positions in sitara for next month. We should have the Baja transport included. 100,000 short for PG&E topock, 80,000 long Citygate, and 20,000 long KRS. The sj to socal transport should be broken out to like 24,000 topock, 14,000 mojave, and the balance to pg&e topock. Also, please check...
Transport for April
Phillip, Courtney needs me to watch the boys on Thursday in order to get organized before we leave for Italy. I can be reached on my cell phone 713-408-6256. Please have Anne update the newcurrentday sheet in order to manage my position. Please call me with any pertinent market information. I will see you Friday. T...
Out of office on Thursday
Melba, Will you please take a look at the term non-texas index products greater than one year and activate them? The section is numbered (1126) in product manager. Thanks,
Activate draft products
Steve, Let's discuss all of your new rox products for EOL. I would like to know which products to roll out on EOL for April bidweek. I would also like to discuss creating a south of Muddy Creek product for Kern gas. I would assume that it would fall under the IF Kern index. Thanks,
Rockies products
We have created the new southern border index products for Socal and PG&E topock. Please create your new basis and gas daily products for these indices as soon as possible. Mattt will need to create the gd index products as well. Let the brokers know about the new indices I have the back office setting up new curv...
New Socal and PG&E products
Frank, The new procedures for trading basis are working well. We still need to get the desk comfortable with submitting orders to you guys, but overall I am pleased with the new procedure. I need to work on staying out of the basis market entirely going forward. Can you also try to work all basis at Socal through ...
Basis trading
The index products look great. Can you have the same constraint language included on the PG&E Topock location for creating the phys forward (fixed price) product? Let me know when that is done. Thank you.
PG&E Tpock phys forward description
Please check the gd swap cheyenne positions for March. I am confident that I have cheyenne short positions on this month, but they are not showing up in the intraday tab. Please check to see if they are booked as kern/opal by mistake. Thank you.
Cheyenne hub positions
Dear John, I had a meeting with Phillip after our morning discussion about P&L and it seems that there may be some issues regarding how I run my book. It was my mistake about whether or not the put options for April Socal were booked properly. The options were booked properly by Larry May and my Book runners and t...
Curveshift 03/08/01
Let's have Matt start on the following: Database for hourly storage activity on Socal. Begin forecasting hourly and daily activity by backing out receipts, using ISO load actuals and backing out real time imports to get in state gen numbers for gas consumption, and then using temps to estimate core gas load. Back t...
matt Smith
Our associates on the desk have asked why they have been included in the associate evaluation. Are they in the corporate associate pool or are they simply designated associates on the trading floor? No big deal - just forwarding their comments. Mike
Associate/ Mid-Rotation Evaluation
Please let me know when our new socal and pg&e index descriptions are available. Also, please activate the phys index producst in draft - one year terms 02-04. Thanks,
NEW indices in database and products in draft
Will you please set up the 100% flow SJ product? I would like the title to be just like the current EP product - no mention of 100% flow on the title. I would like to avoid making this a separate index posting. Let's make this available to the entire market. Thanks,
100% flow SJ
Let's start thinking about transitioning SJ to 100% flow. I would like to discuss all of the issues and costs of presenting such a product to the market. Think about what we might need in the form of Northwest transport, storage, operations personnel, etc. I realize that this will be risky and that I may experience...
100% SJ
I will submit the move request for the west desk on Monday. We should have Anne fill this spot. I would like her to keep track of New Current day and all new deals that flow through the desk. She can coordinate tickets to your group and make sure that they get booked throughout the day. She can also put physical de...
runner on the desk
We should change all settlements at Socal to NGI Southern Border, Socal from Southern California Border average. This new index excludes KRS fixed priced trades. Please let the brokers know about the changes to Socal basis going forward. Please change basis and gd swing swaps (fp and index) in EOL. Also, Frank and ...
Changes to Financial settlements for CA
It is my understanding that Susan will be starting her new job on the west desk Monday morning. We are couting on having her full time beginning the same day. Let me know if I am incorrect. Sincerely,
Susan Scott
Ina, Please have the IT group delete all copies of ICE and Altrade from the west desk. I think Randy is the only one. Thanks,
Get rid of all ecommerce software on west desk
Dear Jeff, I am interested in summarizing all of our contracts in the western region and identifying any problems (i.e. penalty language, notification deadlines for OFOs, etc.) that may need to be addressed. We have experienced a few problems with SW Gas Corp. recently. They have been penalizing Enron for cuts on ...
Western Region Contract issues
How do I get the software to operate Socal Gasselect and Passport? I would like to have them installed on my desktop and laptop. Thanks,
Passport and Gasselect
Take a look at my review and let me know if we should any more of your 2000 accomplishments. I need to get this in your file for HR. Mike
2000 review
To: Energy Law Professionals On December 6-7, the Rocky Mountain Mineral Law Foundation is sponsoring a Special Institute on Natural Gas Transportation and Marketing. The brochure may be downloaded from our website at www.rmmlf.org. If you have any questions, please feel free to contact us. If you have trouble opening...
RMMLF Natural Gas Institute
Attached, please find the final Robin Potts opinion. All changes appear to have been made that were submitted last night. Please note that when you click on the attachment, you will only be able to see the fax cover sheet, but when you print it, all pages are there. I propose to post this opinion and the attached Memor...
Final Potts Opinion
I have a concern about Enron's forward-looking exposure associated with legacy deals (deals that existed during the June 2000 through the May 2001 price shock). If Edison gets its way, all customers will pay for Edison's under-recovery from June 2000 through January 2001 plus CDWR spot market purchases during 2001. Thi...
Another Version of Negative CTC Risk?
I think that the BOE should be admitted to membership. Also, Bob, about the Hong Kong Monetary Authority (HKMA), following the recent seminar we did for them in HK, I think that we are likely to hear more from them about membership. Frankly, it is easy for me to raise the issue with David Carse/Simon Topping, which mig...
Memo: Re: Bank of England Application
Mark -- If possible, I'd like to schedule some time with you (10 min) to discuss approval of a certificates transaction that involves ECE and Elektro. Orlando has scheduled some time w/ Lavorato at 1:00 Houston time, so sometime before then would be best if you are available. A memo has been prepared by Vicky Martinez ...
Risk memo for ECE-Elektro Certicates deal
Please see attached. Thank you. Donna M. Cagle Executive Administrator to President & CEO Mariner Energy, Inc. 580 WestLake Park Blvd., Suite 1300 Houston, TX 77079 281/584-5511 (phone) 281/584-5515 (fax) dcagle@mariner-energy.com <<Special BOD Mtg. Notice - 10-17-01.doc>>
Notice of Rescheduled Special Telephonic Meeting of the BOD
FYI, still under discussions between Enron and Light. This deal is similar to the Duke Call Options we closed last month. I'd rather do it under a Master Agreement and will check with the business guys if we can do so. Rgds, Sami
Light Call Option of 50MW
Attached are drafts of two memos I would like to circulate regarding EBS matters. One relates to Legal Risk Memos and one relates to legal review of contracts. I am also preparing one for contract retention. Would you please let me know if you have any comments? With respect to risk memos, I understand you announced on...
Memos
Following the recent administration of Railtrack and the draft Memorandum to Members of 11 October circulated by ISDA (copy attached for info), a number of you have expressed a wish to formally respond to ISDA on the issues raised. I've attached the draft we propose to send to ISDA. If you could let me have any thought...
Draft letter to ISDA re. "Not Contingent" and convertible bonds
Shortly before the teleconference Board meeting two weeks ago we received an application from the Bank of England for subscriber membership. When we have considered central banks or government agencies for membership in the past, consideration has focused on the nature of the applicant's derivatives activities, its reg...
Bank of England Application
Please let me know if you have any comments or if I can provide additional info. re the attached. The DASH will circulate this afternoon or Monday. Esmeralda -- Please printo out and fax to my attention at the Woodlands the attachment.
Legal Risk Memo re Siemens Repair and Parts Agreements
Hello Everyone, Just a friendly reminder that our next Board Meeting is scheduled for next Tuesday, October 16th at 8:00 a.m. in the Glass Room. Please let me know if you will be attending. You may call me at 713-940-8037 or email me at Bennettlb@aol.com. You should be receiving your Board Meeting packet in the mail....
Board Meeting
We are nearing the "final" form of the document for further use. I have asked Bradford to speak with you regarding use of it for major trading counterparties that may not be investment grade, but with whom Credit sees the ability to greatly enhance our liquidity via netting of margin requirements (not the small account...
Master Netting Agreement: Update, Issues, Questions
Good morning. Per Michael Tribolet's request, I am forwarding you graphs that display the high level detail of bankruptcy exposure by 1) Business Unit and 2) Enron Corp consolidated. Regarding the Portland General graph, please note that we currently have knowledge of only one counterparty exposure - PG&E. Please call ...
Bankruptcy Exposure Graphs
Mark Just a quick question while I remember, as you know I am giving an overview of the DASH process and the Legal Risk Memo that must accompany any DASH. My understanding is that the Legal Risk Memo must be attached to the DASH when the DASH is circulated and that on the face of the DASH form prepared by RAC, we sho...
Legal Risk Memo
The resume for Jeff Huff was inadvertently dropped from the message we sent yesterday evening. The resume is attached below for your convenience. Below are a few points for your review: Resume: Currently the second most productive Partner at Diamond-Cluster, a technology consulting firm. He has been a consultant dedic...
Jeff Huff Resume
As I mentioned to you last week, there are currently about 50 EBS employees who are exempt from the Enron e-mail retention policy. These individuals were exempted from the e-mail retention policy in order to preserve documents related to the Blockbuster litigation. Now that the Blockbuster litigation is over, there is ...
E-mail retention
Mark: Attached is a sample term sheet for a common stock acquisition that could be helpful as a starting point for the Mariner transaction. If the Mariner transaction will be structured as a stock exchange, I am not sure how helpful this will be. I have not located any term sheets for a stock exchange, but I will be g...
Mariner Term Sheet and Issues
I have not been able to locate any other term sheets that are tailor-made to purchases of oil and gas properties (most of the documents we have are related to financing someone else's acquisition of properties). However, Nancy Corbet has a template for an oil and gas property purchase and sale agreement that we could r...
Oil & gas transaction Term Sheet
Attached is a draft press for Coburg Power regarding our decision not to renew our exclusivity agreement. Any thoughts? They do not have a planned release date yet, but we expect it to be sometime this week or next once they have received approval from us. Eric
DRAFT PRESS RELEASE: Coburg Power
Mark nothing has changed since our meeting last week, but here's a quick summary for your convenience: 1. Deliberation 15: COMAE (board for ASMAE, which acts as the clearinghouse for the MAE) issued Deliberation 15 directing ASMAE to do its accounting without applying Annex V by Oct. 31, 2001. The generators object b...
Annex V
Mark, Please review the attached listing and advise if you agree to the projects and amounts listed as billings that Enron North America will receive in 2002 for support of these efforts. I'm at x30352 if you have any questions. Thanks!
2002 IT Systems Development Allocations
This follows up on my voice-mail to you of just a few minutes ago. I reviewed a voice-mail from Theresa Bushman this morning about the timing on the new Mariner matter that Mariner for which Mariner would like to retain F&J. She has spoken with Scott Josie, apparently one of our business people, and has been advised th...
In re F&J Representation
We are close to making a decision on whether to use F&J or some other firm for a new Mariner matter. I anticipate that if we retain some other firm besides F&J, F&J may want to give us our files back, per the original Gus Blackshear letter to Jim. Of course, F&J will insist in giving back one of Mark's files under any ...
In re F&J Representation/Urgent
Mark, Thanks for your voice mails yesterday regarding the cash needs of ou= r two organizations, EGEP and EOGIL. Based on your messages I am a little = confused and if I need to talk with someone else to actually move cash to E= GEP and or EOGIL in the near-term I need to know the process to follow and = whom to talk ...
EGEP & EOGIL Cash Needs
Hi Mark. I know that you are busy with critical Enron business matters now. I don't want to intrude on your time at this critical juncture. I do want to wish you much luck and success in getting things worked out. When things settle down, I would enjoy having an opportunity to continue our discussion. I appreciated you...
Hello from MSU
larry further to our discussion this morning attached the powers of attorney that I discussed we would like to get them executed so that we would in a position to sign the sale sale agreement today. I am currently working on the resolutions. David Minns
Powers of attorney for sale of Australian companies
Mark, Long time no see - I hope you're doing well despite the difficult times we're in. Enron Europe Limited entered into administration earlier today, but nobody seems to have much idea or can render any information about the faith of the captioned company and its Nordic power trading business. We are thus pretty muc...
Enron Capital & Trade Resources International Corp.
Thank you to those who attended the Documentation Committee meeting in New York on November 29. We look forward to meeting our European members at the meeting on December 13 in London. Earlier this week, we distributed the first draft of the 2002 ISDA Master Agreement with accompanying documents to the Committee. We st...
Documentation Committee
All: I understand that Mirant, the buyer in our EcoElectrica deal, may have some outstanding trading exposure with Enron and/or its affiliates. The issue has been raised of whether Mirant may attempt to offset amounts to which Mirant believes it is entitled against the $266 million purchase price that Mirant is obliga...
EcoElecrica / Possible Mirant Offset
Mark - I'm going ahead and faxing the documents that I have already got signed to Brian Korn at Weil Gotschal FAX: 713 224-9511. I'll tell him that Lavorato's signature will be faxed to him by your office when you've been able to get it. Please let me have the originals so that I can get them to Brian. The docs. to be ...
Documents awaiting John Lavorato's signature