El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
13-Jun-2005
El Paso Corporation Commences Construction on Raton Basin 2005 Expansion Project HOUSTON, June 13 /PRNewswire-FirstCall/ -- Colorado Interstate Gas (CIG),
a subsidiary of El Paso Corporation (NYSE: EP), announced today it has begun
construction on its Raton Basin 2005 Expansion project. The $61-million
expansion will add 104,600 dekatherms per day (Dth/d) of transmission capacity
to the section of CIG's existing pipeline system from the Raton Basin in
south-central Colorado to the panhandle of Oklahoma. The construction
involves installation of 102 miles of 16-, 20-, and 24-inch pipeline looping;
1,770 horsepower of additional compression; and new metering facilities. The
Federal Energy Regulatory Commission authorized construction in early June,
and the company expects to have the project in service on October 1, 2005.
"This project is a prime example of El Paso's commitment to providing
increased natural gas transportation capacity for Western United States
producers," said James Cleary, president of El Paso's Western Pipeline Group.
"Completion of the Raton Basin 2005 Expansion will increase CIG's capacity in
this area to more than 380,000 Dth/d, providing our customers with enhanced
access to growing Raton Basin gas supplies and increased deliverability to
mid-continent pipeline interconnections."
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, our ability 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; the uncertainties associated with governmental regulation;
competition, 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
06/13/2005
CONTACT:
Investor and Public Relations, Bruce L. Connery, Vice
President
1-713-420-5855, or fax, 1-713-420-4417
or
Media Relations, Aaron
Woods, Manager
1-713-420-6828, or fax, 1-713-420-6341
Both of El Paso
Corporation
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