UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: January 5, 2004
(Date of Earliest Event Reported: December 23, 2003)
EL PASO CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-14365 76-0568816
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation or
organization)
El Paso Building
1001 Louisiana Street
Houston, Texas 77002
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 420-2600
Item 5. Other Events and Regulation FD Disclosure
-----------------------------------------
On December 23, 2003, we announced that we received the final
$70 million plus interest from the sale of East Coast Power, L.L.C.
following a final FERC order. We also announced the sale of Mohawk
River Funding IV long-term power contract. A copy of this press
release is attached as Exhibit 99.A and is incorporated herein by
reference.
On December 30, 2003, we announced a completed purchase and
sale agreement with Sunoco, Inc. for our Coastal Eagle Point
Refinery. A copy of this press release is attached as Exhibit 99.B
and is incorporated herein by reference.
On December 31, 2003, we announced progress on three petroleum
asset sales totaling approximately $156 million. A copy of this
press release is attached as Exhibit 99.C and is incorporated
herein by reference.
In connection with our recently announced long-range plan,
please consider the following risk factor. Our ability to
achieve the stated objectives of our long-range plan, as well as
the timing of their achievement, if at all, is subject, in part,
to factors beyond our control. These factors include (1) our
ability to raise cash from asset sales, which may be impacted by
our ability to locate potential buyers in a timely fashion and
obtain a reasonable price or by competing asset sale programs by
our competitors, (2) our ability to recover working capital, and
(3) our ability to generate additional cash by improving the
performance of our pipeline and production operations. If we fail
to achieve in a timely manner various targets of our long-range
plan, our liquidity or financial position could be materially
adversely affected. In addition, it is possible that any of the
asset sales contemplated by our long-range plan could be at
prices that are below our current book value for the assets,
which could result in GAAP losses that could be substantial.
Item 7. Financial Statements and Exhibits
---------------------------------
(c) Exhibits.
Exhibit
Number Description
------- ------------
99.A Press Release dated December 23, 2003.
99.B Press Release dated December 30, 2003.
99.C Press Release dated December 31, 2003.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
EL PASO CORPORATION
By: /s/ Jeffrey I. Beason
-------------------------
Jeffrey I. Beason
Senior Vice President
and Controller
(Principal Accounting Officer)
Dated: January 05, 2004
EXHIBIT INDEX
Exhibit
Number Description
------- ------------
99.A Press Release dated December 23, 2003.
99.B Press Release dated December 30, 2003.
99.C Press Release dated December 31, 2003.