Transport Options - On January 9 FERC held a technical conference on TW's 
Transport Options filing.  Along with FERC staff, there were approximately 20 
intervenors present.  Although several of the parties' questions were 
intended to clarify the filing, others used the forum to attack collateral 
issues such as the affiliate marketing rule, pipeline capacity hoarding and 
the market power of Enron Online.  Going forward, TW is due to file pro-forma 
tariff sheets to include several clarifying items by Jan. 26, with parties' 
comments due on Feb. 13 and reply comments due on Feb. 23.

Capacity Marketing - Dynegy purchased several packages of firm transport from 
Blanco to Needles.  One package was 13,500 MMBtu/d for December 2001.  The 
other was 21,500 MMBtu/d for November 1 - December 31, 2002.  We will file 
negotiated rate letters with FERC for the index pricing.

Agave Energy Co. - Met with Agave this week to discuss potential Atoka 
lateral expansion projects and other efforts to bring more producer gas to 
TW's West Texas lateral.  Several opportunities were identified and we have 
scheduled a follow up meeting for February 7th.  In addition, NGPL called to 
set up a meeting next week to look at bringing more gas to us on a firm basis 
in Eddy County; there may be some overlapping volume with Agave here.