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Enron Mail |
Darren:
Here is my problem. As you know, HPLC did a deal with Texas General Land O= ffice where we would exchange gas for crude. The problem was HPLC was sell= ing the gas and Enron Gas Marketing was receiving the crude. Bryce Baxter = worked out a series of intercompany deals between HPLC, ENA and EGM that wo= uld book the deal correctly. Julie Meyers was told how to create the deals= and she completed January and February, except for one small part, but Mar= ch forward was never completed. The attached word document explains the pr= ocedure. Basically, we were suppose to book an HPLC sale to the TGLO with = volume and zero price. This would book the volume to the GL and zero out t= he receivable since we were never going to receive cash from TGLO. Then, w= e would book a sale from HPLC-Wellhead to ENA-Wellhead for the value of the= gas only (no volume) and a sale from ENA-Wellhead to EGM for the value of = the crude (no volume). For these deals, we would use demand fees. EGM will= pay ENA for the crude dollars. =20 I will give you the deals for January so you can see how the dollars move. = You will see that the price is still on the sale from HPLC to TGLO. Julie= zeroed this out, but O'Neal put it back. I've left him a message to find = out why. 1. Sale from HPLC-IM Wellhead to TGLO=09=09=09547201 2. Sale from HPLC-IM HPLC to HPLC-IM Wellhead=09=09547205 =20 3. Sale from HPLC-Wellhead to ENA-IM Wellhead Texas=09679847 4. Sale from ENA-IM Wellhead Texas to EGM=09=09=09679859=20 Here is a preliminary list of what needs to be done to finish out the trans= actions for March, April and May. The previous email went to Kam Keiser, J= ohn Grass, Linda Roberts and Dayem Khandker. They may be able to help us w= ork through this. Let me know if you have any questions. 1. Zero out the prices on the HPLC sales to Texas General Land Office, lea= ve volume only. =09Jan 2001=09547201=09 =09Feb 2001=09591307 =09March 2001=09640685 =09April 2001=09692167 =09May 2001=09755787 2. Enter a ticket for the HPL-Wellhead sale to ENA-Wellhead for March, Apr= il and May 2001 (the Feb deal number is 679848) for the value of the gas be= low. This should be entered as a demand fee only, no volume. =09March 2001=09$774,612.50 =09April 2001=09$705,870.00 =09May 2001=09$664,609.00 =09 3. Enter a ticket for the sale from ENA-Wellhead to EGM for the value of t= he crude below. There is an existing ticket for Jan and Feb that can be ex= tended, deal 679859. =09March 2001=09$757,603.93 =09April 2001=09$820,983.94 =09May 2001=09$598,885.13 4. Update Jan and Feb crude values on deal 679859 =09Jan 2001=09change $886,638.63 to $886,015.18 =09Feb 2001=09change $839,008.31 to $842,475.06 Let me know if you want me to come down to discuss. Megan
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