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Enron Mail |
We are now reviewing Information Memoranda on some Reliant Energy assets and
must respond with a non-binding indication of interest by 5:00 PM, March 15. If we are selected to go on to the next phase of the process, we will be scheduled for a 2 day data room visit. These sessions will begin on or about March 20. It is a fairly fast track deal. REI wants binding offers by April 20, with final execution of a definitive agreement in late April/early May. The assets are being offered either as a total package, or in any subset(s), broken down as follows: Reliant Energy Gas Transmission and Mississippi River Transmission (to be viewed together as a single asset) Reliant Energy Field Services (gathering and processing) Reliant Energy Arkla (LDC) Reliant Energy Minnegasco (LDC) We will need to find a solution to the PUHCA problem if we seriously want to buy either the Minnegasco or Arkla LDC assets (this could be very difficult). The transmission and the field service assets would be "easier" to own from that standpoint. In any event, we may want to go to all the data rooms just to learn about these assets. Bottom line, if our preliminary bids are good enough to get into the data room phase of this deal, we will need a lot of help from the operations side. These assets start with field gathering & processing, and end with retail gas deliveries to the homeowner ... truly a "stem to stern" asset package. I'll keep you up to date on our progress, but we should be thinking about the team we'd put in the data room, and on site visits, etc. if given the opportunity. JNG
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