HOUSTON, Texas (May 3, 2006) – Bobcat Gas Storage (Bobcat) recently concluded its non-binding Open Season for firm natural gas storage service at its proposed high-deliverability natural gas storage facility in St. Landry Parish, Louisiana. Bobcat is excited to announce that it received market-priced bids requesting more than five times the capacity offered by seventeen companies that are leaders in the energy industry. The value of the bids that Bobcat received in the Open Season indicates that the market participants are recognizing the value of holding flexible natural gas storage in their energy portfolios. Bobcat will immediately begin working with the top bidders to finalize service agreements and seek all approvals necessary to proceed with the development of the project. Bobcat has requested final FERC authorizations by July 15, 2006, which supports its targeted October 2007 in-service date.
The Bobcat Project will offer customers premiere interconnections with five interstate pipelines including Texas Eastern Transmission, L.P., Transcontinental Gas Pipeline Company, Florida Gas Transmission, Gulf South Pipeline and ANR Pipeline as well as the Cypress intrastate pipeline system. Details on the Bobcat project can be found on the project website at www.bobcatstorage.com.
Bobcat is being developed by Port Barre Investments, LLC. Port Barre Holdings, LLC and Port Barre Investments, LLC are owned by Haddington Energy Partners III LP, a private equity fund managed by Haddington Ventures, LLC. Haddington provides capital to the energy industry, including mid-stream oil and natural gas companies and electric generation, transmission, and distribution companies, with a focus on natural gas storage, gathering and processing, and other midstream activities.