El Paso expands 2007 hedge program

El Paso Corporation, one of North America's largest independent natural gas producers, has announced that it has restructured and expanded the hedge program that supports its natural gas production for 2007.

"Our expanded hedge program provides support on approximately 210 billion cubic feet (bcf) of 2007 domestic natural gas production, with an average floor price of $7.64 per million British thermal units (MMBtu)," says Doug Foshee, El Paso's president and chief executive.

"Importantly, 121