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Stock Symbol: EP
1001 Louisiana Street
Houston, TX 77002
713-420-2600 (phone)
713-420-4417 (fax)
Website: El Paso
Index Membership: S&P 100; S&P 500; S&P 1500 Super Comp
Industry: Natural Gas Utilities
News releases - read news release for El Paso Corporation
El Paso Corporation Description:
They are an energy company, originally founded in 1928 in El Paso, Texas that primarily operates in the regulated natural gas transmission and exploration and production sectors of the energy industry. their purpose is to provide natural gas and related energy products in a safe, efficient and dependable manner.
Regulated Natural Gas Transmission:
They own or have interests in North America’s largest interstate pipeline system with approximately 55,000 miles of pipe that connect North America’s major producing basins to its major consuming markets. They also provide storage capacity and have an LNG receiving terminal and related facilities in Elba Island, Georgia. They are focused on enhancing the value of their transmission business through successful recontracting, continual efficiency improvements through reliable and safe operations, cost management, developing growth projects and prudent capital spending in the United States and Mexico.
Exploration and Production:
Their exploration and production business is currently focused on the exploration for and the acquisition, development and production of natural gas, oil and NGL in the United States, Brazil and Egypt.
Their operations are conducted through three primary segments: Pipelines, Exploration and Production and Marketing. They also have a Power segment which holds their remaining interests in international power plants in Brazil, Asia and Central America. Their business segments provide a variety of energy products and services and are managed separately as each segment requires different technology and marketing strategies.
Pipelines Segment:
Their Pipelines segment includes their interstate natural gas transmission systems and related operations. These operations are conducted through eight separate, wholly owned pipeline systems and five partially owned systems. These systems connect the nation’s principal natural gas supply regions to the five largest consuming regions in the United States: the Gulf Coast, California, the northeast, the southwest and the southeast. They also have access to systems in Canada and assets in Mexico. Their pipelines segment also includes (i) their ownership of storage capacity through their wholly owned transmission systems, two wholly owned storage facilities, and three partially owned storage systems as well as (ii) their LNG terminal and related facilities.
Exploration and Production Segment:
Their Exploration and Production segment’s current business strategy focuses on the exploration for and the acquisition, development and production of natural gas, oil and NGL in the United States, Brazil and Egypt. They have a balanced portfolio of development and exploration projects, including long-lived and shorter-lived properties divided into the following regions discussed below:
Marketing Segment:
Their Marketing segment’s primary focus is to market their Exploration and Production segment’s natural gas and oil production and to manage the company’s overall price risk, primarily through the use of natural gas and oil derivative contracts.
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