|
|
 |
| |
|
Home > Fortune 500 Companies > El Paso Corp
El Paso Corp
El Paso was founded in 1928 and is based in Houston, Texas. It’s a publicly traded company having a good stock performance result. El Paso Corp is a fortune 500 stock listed company trading under EP.
The company provides natural gas transmission and related services through its pipeline systems. As of December 31, 2005, it owned or had interests in around 55,500 miles of interstate natural gas pipelines, over and above owned about 420 billion cubic feet of storage capacity, as of the above date. The company also focuses on the examination for and the acquirement, development, and production of oil, natural gas and natural gas liquids. It had roughly 2.4 trillion cubic feet of proved natural gas and oil reserves as of above date.
El Paso's examination and production business completed its turnaround and generated 696 million dollars of EBIT. For the year, production volumes averaged 743 million cubic feet equal per day and in 2006 they will invest about 575 million dollars which is in pipeline maintenance.
During the year they announced or closed 3.3 billion dollars in asset sales. This success translated into their reducing debt, net of cash, to 17.1 billion dollars by year-end, a 3.4-billion dollars reduction for the year. In 2005, they expect their total capital expenditures, including acquisitions, to be around 1.9 billion dollars, divided around equally between their Production and Pipelines segments. In 2004, their Production segment received funds of around 110 million dollars from third parties under net proNts interest agreements. In March 2005, they purchased all of the interests held by a party to one of these agreements for 62 million dollars.
They expect to generate significant operating cash flow in 2006, which they will supplement with 1.2 billion dollars of expected proceeds from asset sales, including 0.4 billion dollars of cash upon completing the assignment of a majority of their power derivative portfolio. They expect to also generate cash from financing activities as needed, including the anticipated issuance of common stock during the year. In 2006, they expect to spend approximately 2.0 billion dollars on capital investments in their core pipeline and exploration and production businesses, intended to both maintain and grow these businesses.
They’ll maintain to create prospects for growth against a backdrop of increasing demand for natural gas and the infrastructure to support it and successful completion of these objectives will create significant shareholder value.
Back to Fortune 500 Companies
|
|
|
|
|
|
|