2687.2000-10-27.farmer.ham.txt 2.4 KB

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  1. Subject: re : meter 984229 - roos common point - trade zone 18
  2. mary ,
  3. hplc meter number 0984229 was physically remove from service in december ,
  4. 1999 . typically , before hpl physically pulls a meter , production has ceased
  5. at minimum for 6 months or the production has been released . in the case of
  6. the roos common point , the producing wells were released and attached to
  7. meter 0989740 in 11 / 98 and the remaining wells are non - producing .
  8. resultingly , the only viable option for resolution is option 2 . we should
  9. take the deal to zero by " unwinding " it .
  10. vlt
  11. x 3 - 6353
  12. mary poorman @ enron
  13. 10 / 24 / 2000 12 : 40 pm
  14. to : vance l taylor / hou / ect @ ect
  15. cc : katherine benedict / hou / ect @ ect , julie meyers / hou / ect @ ect , daren j
  16. farmer / hou / ect @ ect , pat clynes / corp / enron @ enron , robert cotten / hou / ect @ ect
  17. subject : re : meter 984229 - roos common point - trade zone 18
  18. vance :
  19. per our conversation , we have two possible options to resolve this deal ,
  20. depending on whether the wellheads are producing or not .
  21. producing : if that is the case , the purchase from calpine , and any contracts
  22. hedged to it will need to be backed up in the system to a wellhead level .
  23. once that is done , i will need to research in the system how those wellheads
  24. were allocated and paid and reallocate to your calpine deal . this will
  25. probably have to go back to hplc ' s ownership of hplr ' s gathering assets .
  26. non - producing : should we determine that the common point and any wells
  27. behind it have been shut - in , or p & a ' d , we will need to reallocate this deal
  28. to zero , and unwind any hedges against it ( or , move the hedges to another
  29. deal , if possible . since the deal is older , we probably sold lower priced
  30. contracts against the production and a buy - back today would possibly result
  31. in a financial loss ) .
  32. in either case , the deal needs to be cleaned up back to the date of last flow
  33. at meter 4229 , which i am currently looking into . i will email you as soon
  34. as i ascertain that date .
  35. in lieu of the past couple of days , we may need to look at all of the deals
  36. which were impacted by hplc ' s aquisition of hplr ' s gathering to ensure that
  37. they are being captured properly , both at a book level and at a state filing
  38. level . please let me know what your thoughts are as to how to accomplish
  39. this .
  40. thank you again for all of your hard work in this area ,
  41. mary