Panenergy Corp.

PanEnergy Corporation, formerly Panhandle Eastern Corporation, owns and operates one of the nation's largest natural gas transmission networks, through four interstate pipeline subsidiaries. Its main business is the marketing and transportation of natural gas and related services. In December 1995 Panhandle Acquisition Two, Inc. a wholly owned subsidiary of Panhandle Eastern merged with Associated Natural Gas Corporation, making the company the third largest natural gas marketer, the fourth largest natural gas gatherer and one of the top 15 natural gas liquid producers in the United States. Energy Services for 80% of 1996 revenues; natural gas transmission and other, 20%.