|
|
Enron Mail |
Gerald,
We were approached before the holidays by First Union representing Universal Compression to potentially serve as a back-up fleet manager for a large portion of their fleet that they are trying to take off balance sheet (via First Union) should they become insolvent. They are trying to do this simultaneously with the close of the merger with Weatherford. Mark and I met with the CEO (Steve Schneider) and CFO (Ernie Danner) prior to the holidays to discuss this a little further as well as a broader alliance between Enron and Universal to chase electric horsepower deals. Universal is comfortable with Enron having somebody like Hanover as a back-up to be called upon should Enron be called to fulfill it's role and even with a spread, so long as Hanover does not "see" Universal and vice-versa. Suggested stand-by fee of $150,000-$200,000/yr. has been casually thrown out. Please review the attached document and let's discuss further - perhaps tomorrow morning. I talked with Steve Schneider yesterday and he told me that Ernie Danner would be getting with me today regarding a confidentiality agreement regarding this deal as well as a potential marketing alliance, which we would like to discuss further with you as well. Give me a call when you get a chance and we'll set something up. Thanks, Chris You will find attached a copy of an agreement that has been forwarded to us regarding ----- Forwarded by Chris Hilgert/HOU/ECT on 01/04/2001 10:16 AM ----- Tim Proffitt 12/14/2000 08:03 PM To: Chris Hilgert/HOU/ECT@ect cc: Subject: Secondary Service Provider - Contract Don't know if I ever sent you this, but here is an electronic copy of this. Tim ---------------------- Forwarded by Tim Proffitt/HOU/ECT on 12/14/2000 08:05 PM --------------------------- "Kipp, James" <james.kipp@funb.com< on 11/30/2000 09:19:20 AM To: "'tim.proffitt@enron.com'" <tim.proffitt@enron.com<, "'john.thompson@enron.com'" <john.thompson@enron.com< cc: "'edanner@universalcompression.com'" <edanner@universalcompression.com< Subject: Secondary Service Provider - Contract First Union Securities, Inc. The attached file is an generic sample of the contractual role the SSP would be asked to fulfill under the ABS structure. Give me a call should you have questions. James James M. Kipp Managing Director Energy Investment Banking (713) 346-2701 - Direct (713) 650-1208 - Fax e-mail: james.kipp@funb.com < <<Mgmt Agrmt 11_00.doc<< < < < < < < - Mgmt Agrmt 11_00.doc
|