Exhibit 99.A

EL PASO CORPORATION

Operating Statistics
Second Quarter 2005

Table of Contents

	Page
Consolidated Statements of Income		2
Segment Information		3
Consolidated Operating Results
Consolidated Net Income		4
Consolidated Earnings Before Interest Expense and Income Taxes (EBIT)		5
Business Segment Results
Pipeline Group
Earnings Before Interest Expense and Income Taxes		6
Throughput		7
Non-regulated Group
Earnings Before Interest Expense and Income Taxes		8
Production
Earnings Before Interest Expense and Income Taxes		9
Sales Volumes, Realized Prices and Costs Per Unit		10
Marketing and Trading
Earnings Before Interest Expense and Income Taxes		11
Operating Data		12
Power
Earnings Before Interest Expense and Income Taxes		13
Operating Data		14
Field Services
Earnings Before Interest Expense and Income Taxes		15
Other non-regulated
Earnings Before Interest Expense and Income Taxes		16
Schedule of Significant Items		17

1

EL PASO CORPORATION

CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
(UNAUDITED)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2005			2004			2005			2004
Operating revenues	$	1,224		$	1,524		$	2,366		$	3,081
Operating expenses
Cost of products and services		60			435			159			825
Operation and maintenance		438			373			821			774
Loss on long-lived assets		360			17			381			255
Western Energy Settlement		—			—			59			—
Depreciation, depletion and amortization		294			263			574			538
Taxes, other than income taxes		65			66			136			130
		1,217			1,154			2,130			2,522
Operating income		7			370			236			559
Equity earnings and other income		52			128			275			259
Earnings before interest expense, income taxes, and other charges		59			498			511			818
Interest and debt expense		340			410			690			833
Return on preferred interests of consolidated subsidiaries		3			6			9			12
Income (loss) before income taxes		(284	)		82			(188	)		(27	)
Income taxes (benefits)		(51	)		48			(57	)		58
Income (loss) from continuing operations		(233	)		34			(131	)		(85	)
Discontinued operations, net of income taxes		(5	)		(29	)		(1	)		(106	)
Net income (loss)		(238	)		5			(132	)		(191	)
Preferred stock dividends		(8	)		—			(8	)		—
Net income (loss) available to common stockholders	$	(246	)	$	5		$	(140	)	$	(191	)
Diluted earnings (loss) per common share
Income (loss) from continuing operations	$	(0.37	)	$	0.05		$	(0.22	)	$	(0.13	)
Discontinued operations, net of income taxes		(0.01	)		(0.04	)		—			(0.17	)
Net income (loss) per common share	$	(0.38	)	$	0.01		$	(0.22	)	$	(0.30	)
Diluted average common shares outstanding (000’s)		640,898			639,119			640,260			638,650

2

EL PASO CORPORATION

SEGMENT INFORMATION
(UNAUDITED)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Operating revenues
Pipeline Group	$	768		$	653		$	721		$	617		$	604		$	709		$	1,421		$	1,338
Non-regulated Group
Production		439			452			446			430			400			459			891			876
Marketing and Trading		(175	)		(21	)		(159	)		(141	)		(120	)		(88	)		(196	)		(300	)
Power		77			109			207			236			181			171			186			443
Field Services		48			28			387			428			426			121			76			815
Other non-regulated(1)		27			22			43			28			31			28			49			71
Non-regulated eliminations(1)		(31	)		(13	)		(78	)		(64	)		(72	)		(51	)		(44	)		(142	)
Non-regulated Group Total		385			577			846			917			846			640			962			1,763
Corporate Group and eliminations(1)		(11	)		(6	)		(10	)		(10	)		(21	)		15			(17	)		(20	)
Consolidated total		1,142			1,224			1,557			1,524			1,429			1,364			2,366			3,081
Depreciation, depletion and amortization
Pipeline Group		111			108			100			101			104			105			219			201
Non-regulated Group
Production		146			157			140			131			136			141			303			271
Marketing and Trading		1			1			3			3			4			3			2			6
Power		12			10			16			12			14			12			22			28
Field Services		1			1			3			4			3			2			2			7
Other non-regulated(1)		2			1			2			2			2			3			3			4
Non-regulated Group Total		162			170			164			152			159			161			332			316
Corporate Group and eliminations(1)		7			16			11			10			7			14			23			21
Consolidated total		280			294			275			263			270			280			574			538
Operating income (loss)
Pipeline Group		362			262			348			260			218			303			624			608
Non-regulated Group
Production		180			175			203			202			147			174			355			405
Marketing and Trading		(186	)		(32	)		(175	)		(154	)		(139	)		(94	)		(218	)		(329	)
Power		(38	)		(357	)		(204	)		56			(48	)		(228	)		(395	)		(148	)
Field Services		2			(5	)		10			7			(477	)		(5	)		(3	)		17
Other non-regulated(1)		9			12			17			(1	)		4			5			21			16
Non-regulated Group Total		(33	)		(207	)		(149	)		110			(513	)		(148	)		(240	)		(39	)
Corporate Group and eliminations(1)		(100	)		(48	)		(10	)		—			(60	)		(169	)		(148	)		(10	)
Consolidated total		229			7			189			370			(355	)		(14	)		236			559
Earnings (loss) before interest expense and income taxes (EBIT)
Pipeline Group		412			309			386			308			268			369			721			694
Non-regulated Group
Production		183			176			204			204			150			176			359			408
Marketing and Trading		(185	)		(30	)		(164	)		(152	)		(138	)		(85	)		(215	)		(316	)
Power		(50	)		(381	)		(169	)		102			(7	)		(525	)		(431	)		(67	)
Field Services		182			(3	)		36			27			61			(4	)		179			63
Other non-regulated(1)		8			12			18			(4	)		5			8			20			14
Non-regulated Group Total		138			(226	)		(75	)		177			71			(430	)		(88	)		102
Corporate Group and eliminations(1)		(98	)		(24	)		9			13			(62	)		(204	)		(122	)		22
Consolidated total	$	452		$	59		$	320		$	498		$	277		$	(265	)	$	511		$	818
Total significant items impacting EBIT(2)	$	(31	)	$	489		$	290		$	39		$	109		$	666		$	458		$	329

(1)	Included in Corporate results in SEC filings
(2)	Refer to Schedule of Significant Items on page 17 for details.

3

EL PASO CORPORATION

CONSOLIDATED NET INCOME
(UNAUDITED)

	2005						2004												Year-to-Date
(In millions, except per share amounts)	First			Second			First			Second			Third			Fourth			2005			2004
Operating revenues	$	1,142		$	1,224		$	1,557		$	1,524		$	1,429		$	1,364		$	2,366		$	3,081
Operating expenses		913			1,217			1,368			1,154			1,784			1,378			2,130			2,522
Operating income (loss)		229			7			189			370			(355	)		(14	)		236			559
Equity earnings and other income (expense)		223			52			131			128			632			(251	)		275			259
Earnings (loss) before interest expense, income taxes and other charges		452			59			320			498			277			(265	)		511			818
Interest and debt expense		350			340			423			410			396			378			690			833
Return on preferred interests of consolidated subsidiaries		6			3			6			6			6			7			9			12
Income (loss) before income taxes		96			(284	)		(109	)		82			(125	)		(650	)		(188	)		(27	)
Income taxes (benefit)		(6	)		(51	)		10			48			77			(104	)		(57	)		58
Income (loss) from continuing operations		102			(233	)		(119	)		34			(202	)		(546	)		(131	)		(85	)
Discontinued operations, net of income taxes		4			(5	)		(77	)		(29	)		(12	)		4			(1	)		(106	)
Consolidated net income (loss)	$	106		$	(238	)	$	(196	)	$	5		$	(214	)	$	(542	)	$	(132	)	$	(191	)
Preferred stock dividends		—			(8	)		—			—			—			—			(8	)		—
Net income (loss) available to common stockholders	$	106		$	(246	)	$	(196	)	$	5		$	(214	)	$	(542	)	$	(140	)	$	(191	)
Diluted earnings (loss) per common share	$	0.17		$	(0.38	)	$	(0.31	)	$	0.01		$	(0.33	)	$	(0.85	)	$	(0.22	)	$	(0.30	)
Diluted average common shares outstanding (000’s)		641,816			640,898			638,212			639,119			639,163			639,320			640,260			638,650
Pretax Significant Items impacting EBIT (1)	$	(31	)	$	489		$	290		$	39		$	109		$	666		$	458		$	329

⁽¹⁾ Refer to Schedule of Significant Items on page 17 for details

4

EL PASO CORPORATION

CONSOLIDATED EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(UNAUDITED)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Operating revenues
Pipeline Group	$	768		$	653		$	721		$	617		$	604		$	709		$	1,421		$	1,338
Non-regulated Group
Production		439			452			446			430			400			459			891			876
Marketing and Trading		(175	)		(21	)		(159	)		(141	)		(120	)		(88	)		(196	)		(300	)
Power		77			109			207			236			181			171			186			443
Field Services		48			28			387			428			426			121			76			815
Other non-regulated (1)		27			22			43			28			31			28			49			71
Non-regulated eliminations (1)		(31	)		(13	)		(78	)		(64	)		(72	)		(51	)		(44	)		(142	)
Non-regulated Group Total		385			577			846			917			846			640			962			1,763
Corporate Group and eliminations (1)		(11	)		(6	)		(10	)		(10	)		(21	)		15			(17	)		(20	)
Total		1,142			1,224			1,557			1,524			1,429			1,364			2,366			3,081
Operating expenses
Cost of products and services		99			60			390			435			390			148			159			825
Operation and maintenance		383			438			401			373			475			623			821			774
Loss on long-lived assets		21			360			238			17			582			271			381			255
Western Energy Settlement		59			—			—			—			—			—			59			—
Depreciation, depletion and amortization		280			294			275			263			270			280			574			538
Taxes, other than income taxes		71			65			64			66			67			56			136			130
Total		913			1,217			1,368			1,154			1,784			1,378			2,130			2,522
Consolidated operating income (loss)		229			7			189			370			(355	)		(14	)		236			559
Equity earnings and other income (expense)		223			52			131			128			632			(251	)		275			259
Earnings (loss) before interest expense and income taxes	$	452		$	59		$	320		$	498		$	277		$	(265	)	$	511		$	818

(1) Included in Corporate results in SEC filings

5

PIPELINE GROUP

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)

	2005						2004											Year-to-Date
(In millions)	First			Second			First			Second		Third			Fourth			2005			2004
Operating revenues	$	768		$	653		$	721		$	617	$	604		$	709		$	1,421		$	1,338
Operating expenses
Operation and maintenance		259			246			234			219		244			271			505			453
Gain on long-lived assets		(7	)		(3	)		(1	)		—		—			—			(10	)		(1	)
Depreciation, depletion and amortization		111			108			100			101		104			105			219			201
Taxes, other than income taxes		43			40			40			37		38			30			83			77
Total		406			391			373			357		386			406			797			730
Operating income		362			262			348			260		218			303			624			608
Equity earnings and other income		50			47			38			48		50			66			97			86
Earnings before interest expense and income taxes (EBIT)	$	412		$	309		$	386		$	308	$	268		$	369		$	721		$	694
Significant items:
Operating expenses	$	—		$	(2	)	$	4		$	1	$	—		$	(1	)	$	(2	)	$	5
Equity earnings and other income		—			—			—			—		(4	)		(15	)		—			—
Total Significant Items	$	—		$	(2	)	$	4		$	1	$	(4	)	$	(16	)	$	(2	)	$	5

6

PIPELINE GROUP

THROUGHPUT
(Excludes Intrasegment Volumes)
(BBtu/d)

	2005				2004								Year-to-Date
	First		Second		First		Second		Third		Fourth		2005		2004
Tennessee Gas Pipeline		5,026		4,315		5,385		4,321		3,858		4,322		4,668		4,853
American Natural Resources		4,947		3,686		4,946		3,838		3,577		3,914		4,313		4,392
Southern Natural Gas		2,243		1,735		2,589		2,035		1,984		2,046		1,988		2,312
El Paso Natural Gas (1)		4,055		4,089		3,981		4,152		4,432		4,371		4,071		4,067
Colorado Interstate Gas (2)		3,406		3,653		2,824		2,720		2,678		2,957		3,530		2,772
El Paso Gas Transmission Mexico, S. de R.L.		50		50		50		50		50		50		50		50
Total		19,727		17,528		19,775		17,116		16,579		17,660		18,620		18,446
Equity Investments (Ownership Percentage)
Citrus (50%)		952		959		921		1,029		1,119		959		956		975
Great Lakes (50%)		1,223		1,140		1,131		1,096		1,079		1,094		1,181		1,114
Samalayuca & Gloria a Dios (50%)		209		214		208		219		228		210		212		213
San Fernando (50%)		475		475		475		475		475		475		475		475
Total		2,859		2,788		2,735		2,819		2,901		2,738		2,824		2,777
Total throughput		22,586		20,316		22,510		19,935		19,480		20,398		21,444		21,223

(1)	Including Mojave Pipeline Company (MPC)
(2)	Including Wyoming Interstate Company (WIC) and Cheyenne Plains Gas Pipeline (CPG)

7

NON-REGULATED GROUP

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Operating revenues
Production	$	439		$	452		$	446		$	430		$	400		$	459		$	891		$	876
Marketing and Trading		(175	)		(21	)		(159	)		(141	)		(120	)		(88	)		(196	)		(300	)
Power		77			109			207			236			181			171			186			443
Field Services		48			28			387			428			426			121			76			815
Other non-regulated (1)		27			22			43			28			31			28			49			71
Non-regulated eliminations(1)		(31	)		(13	)		(78	)		(64	)		(72	)		(51	)		(44	)		(142	)
Total		385			577			846			917			846			640			962			1,763
Operating expenses
Cost of products and services		53			34			346			398			361			109			87			744
Operation and maintenance		149			196			222			208			231			236			345			430
Loss on long-lived assets		28			363			242			22			582			271			391			264
Depreciation, depletion and amortization		162			170			164			152			159			161			332			316
Taxes, other than income taxes		26			21			21			27			26			11			47			48
Total		418			784			995			807			1,359			788			1,202			1,802
Operating income (loss)		(33	)		(207	)		(149	)		110			(513	)		(148	)		(240	)		(39	)
Equity earnings and other income (expense)		171			(19	)		74			67			584			(282	)		152			141
Earnings (loss) before interest expense and income taxes (EBIT)	$	138		$	(226	)	$	(75	)	$	177		$	71		$	(430	)	$	(88	)	$	102
Significant items:
Operating expenses	$	28		$	384		$	257		$	24		$	585		$	273		$	412		$	281
Equity earnings and other income		(119	)		81			24			16			(502	)		356			(38	)		40
Total Significant Items	$	(91	)	$	465		$	281		$	40		$	83		$	629		$	374		$	321

(1) Included in Corporate results in SEC filings

8

PRODUCTION

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES
(Excludes Intrasegment Transactions)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Operating revenues
Natural gas	$	353		$	354		$	368		$	363		$	325		$	372		$	707		$	731
Oil, condensate and natural gas liquids (NGL)		85			96			77			66			75			87			181			143
Other		1			2			1			1			—			—			3			2
Total operating revenues		439			452			446			430			400			459			891			876
Transportation and net product costs (1)		(13	)		(12	)		(14	)		(13	)		(13	)		(14	)		(25	)		(27	)
Total operating margin		426			440			432			417			387			445			866			849
Operating expenses
Depreciation, depletion and amortization		146			157			140			131			136			141			303			271
Production costs (2)		55			59			42			44			58			66			114			86
Other charges (3)		—			2			9			2			1			10			2			11
General and administrative expenses		41			43			36			37			47			53			84			73
Taxes, other than production and income taxes		4			4			2			1			(2	)		1			8			3
Total		246			265			229			215			240			271			511			444
Operating income		180			175			203			202			147			174			355			405
Equity earnings and other income		3			1			1			2			3			2			4			3
Earnings before interest expense and income taxes (EBIT)	$	183		$	176		$	204		$	204		$	150		$	176		$	359		$	408
Significant items:
Operating expenses	$	—		$	2		$	9		$	2		$	1		$	10			2			11
Total Significant items	$	—		$	2		$	9		$	2		$	1		$	10		$	2		$	11

(1)	Amounts are included in operating expenses on our consolidated statement of income
(2)	Production costs include lease operating costs and production related taxes (including ad valorem and severance taxes)
(3)	Other charges include restructuring costs and asset impairments

9

PRODUCTION

SALES VOLUMES, REALIZED PRICES AND COSTS PER UNIT

	2005				2004								Year-to-Date
	First		Second		First		Second		Third		Fourth		2005		2004
Natural Gas Sales Volumes from Continuing Operations (MMcf)
Onshore		20,324		24,259		18,784		18,504		20,204		20,143		44,583		37,288
Offshore		14,754		13,289		24,574		19,502		15,810		14,830		28,043		44,076
Texas Gulf Coast		16,758		16,560		22,341		23,529		20,616		19,172		33,318		45,870
International		4,322		3,682		—		—		2,652		4,196		8,004		—
Total Natural Gas Sales Volumes from Continuing Operations		56,158		57,790		65,699		61,535		59,282		58,341		113,948		127,234
Total Natural Gas Sales Volumes from Discontinued Operations(2)		445		91		4,694		101		46		429		536		4,795
Total Natural Gas Sales Volumes		56,603		57,881		70,393		61,636		59,328		58,770		114,484		132,029
Oil, Condensate and NGL Sales Volumes from Continuing Operations (MBbls)
Onshore		322		420		268		299		288		301		742		567
Offshore		1,028		1,092		1,493		909		1,007		981		2,120		2,402
Texas Gulf Coast		621		605		949		729		583		691		1,226		1,678
International		165		143		—		—		135		185		308		—
Total Oil, Condensate and NGL Sales Volumes from Continuing Operations		2,136		2,260		2,710		1,937		2,013		2,158		4,396		4,647
Total Oil, Condensate and NGL Sales Volumes from Discontinued Operations (2)		—		—		58		—		—		—		—		58
Total Oil, Condensate and NGL Sales Volumes		2,136		2,260		2,768		1,937		2,013		2,158		4,396		4,705
Equivalent Sales Volumes from Continuing Operations (MMcfe)
Onshore		22,256		26,782		20,392		20,298		21,933		21,948		49,038		40,690
Offshore		20,923		19,842		33,532		24,956		21,845		20,718		40,765		58,488
Texas Gulf Coast		20,484		20,189		28,034		27,903		24,117		23,318		40,673		55,937
International		5,313		4,538		—		—		3,464		5,308		9,851		—
Total Equivalent Sales Volumes from Continuing Operations		68,976		71,351		81,958		73,157		71,359		71,292		140,327		155,115
Total Equivalent Sales Volumes from Discontinued Operations (2)		445		91		5,043		101		46		429		536		5,144
Total Equivalent Sales Volumes		69,421		71,442		87,001		73,258		71,405		71,721		140,863		160,259
Weighted Average Realized Prices (1)
Natural gas including hedges ($/Mcf)	$	6.10	$	5.96	$	5.46	$	5.76	$	5.30	$	6.18	$	6.03	$	5.60
Natural gas excluding hedges ($/Mcf)	$	5.53	$	6.18	$	5.54	$	5.81	$	5.35	$	6.28	$	5.86	$	5.66
Oil, condensate and NGL including hedges ($/Bbl)	$	39.11	$	41.80	$	27.32	$	32.57	$	36.32	$	39.44	$	40.49	$	29.51
Oil, condensate and NGL excluding hedges ($/Bbl)	$	39.45	$	42.48	$	27.31	$	32.57	$	36.44	$	39.89	$	41.01	$	29.51
Production cost
Average lease operating cost ($/Mcfe)	$	0.61	$	0.76	$	0.49	$	0.51	$	0.67	$	0.74	$	0.69	$	0.50
Average production taxes ($/Mcfe)	$	0.19	$	0.07	$	0.03	$	0.09	$	0.14	$	0.19	$	0.13	$	0.06
Total production cost ($/Mcfe)	$	0.80	$	0.83	$	0.52	$	0.60	$	0.81	$	0.93	$	0.82	$	0.56
Average general and administrative cost ($/Mcfe)	$	0.59	$	0.61	$	0.44	$	0.51	$	0.65	$	0.75	$	0.60	$	0.47
Unit of production depletion cost ($/Mcfe)	$	2.00	$	2.05	$	1.58	$	1.64	$	1.75	$	1.81	$	2.02	$	1.61

(1)	Prices are stated after transportation costs
(2)	Includes Canada and Hungary

10

MARKETING AND TRADING

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES

(Excludes Intersegment Transactions)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Gross margin and other revenue	$	(175	)	$	(21	)	$	(159	)	$	(141	)	$	(120	)	$	(88	)	$	(196	)	$	(300	)
Operating expenses
Operation and maintenance		10			9			13			10			15			15			19			23
Depreciation, depletion and amortization		1			1			3			3			4			3			2			6
Taxes, other than income taxes		—			1			—			—			—			(12	)		1			—
Total		11			11			16			13			19			6			22			29
Operating loss		(186	)		(32	)		(175	)		(154	)		(139	)		(94	)		(218	)		(329	)
Equity earnings and other income		1			2			11			2			1			9			3			13
Earnings (loss) before interest expense and income taxes (EBIT)	$	(185	)	$	(30	)	$	(164	)	$	(152	)	$	(138	)	$	(85	)	$	(215	)	$	(316	)
Significant items:
Operating expenses	$	—		$	—		$	2		$	—		$	—		$	—		$	—		$	2
Total Significant Items	$	—		$	—		$	2		$	—		$	—		$	—		$	—		$	2

11

MARKETING AND TRADING

OPERATING DATA

	2005					2004													Year-to-Date
		First		Second			First			Second			Third			Fourth				2005		2004
Price Risk Management Statistics
Forward Trading Book (in millions)		$	46	$	36		$	(525	)	$	(626	)	$	(752	)	$	(61	)		$	36	$	(626	)
Average VAR (in millions) (1)		$	20	$	23		$	33		$	31		$	35		$	51			$	21	$	32
Physical Gas Delivery (BBtu/d)			1,534		1,597			2,073			1,735			1,793			1,724				1,566		1,904
Physical Power Sales (MMWh)			15,096		14,505			23,493			22,652			27,346			21,982				29,601		46,145
Financial Settlements (BBtue/d)			8,081		7,595			25,033			18,804			17,952			17,072				7,836		21,918

Analysis of Price Risk Management Activities and Forward Book

Trading Portfolio Value at Risk:

	Jun 30, 2005
	(In millions)
One Day VAR-95% Confidence Level at 6/30/05	$	25
Average VAR-95% Confidence Level during 2005	$	21
High VAR-95% Confidence Level during 2005	$	30
Low VAR-95% Confidence Level during 2005	$	12

	June 30, 2005
	Forward			Return of Cash			Total Cash
Risk Management Assets and Liabilities	Trading Book			Collateral (2)			Expectations (3)
Mark to Market Value and Cash Liquidation				(In millions)
2005	$	40		$	122		$	162
2006		2			47			49
2007		7			(70	)		(63	)
2008		22			(55	)		(33	)
2009		11			(41	)		(30	)
Remainder		(46	)		5			(41	)
Total	$	36		$	8		$	44

(1)	Average VAR was calculated using the historical simulation methodology at a 95% confidence level.
(2)	Return of cash collateral includes margin posted against our production hedge payables that are included in production segment’s non-trading book.
(3)	Estimated present value of our expected settlements of accrual positions through 2028, assuming a reasonable utilization of transportation and storage capacity, were $(356) million at June 30, 2005.

12

POWER

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES

(Excludes Intersegment Transactions)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Gross margin and other revenue	$	59		$	101		$	160		$	194		$	155		$	134		$	160		$	354
Operating expenses
Operation and maintenance		51			78			97			97			102			78			129			194
Loss on long-lived assets		27			361			240			16			77			266			388			256
Depreciation, depletion and amortization		12			10			16			12			14			12			22			28
Taxes, other than income taxes		7			9			11			13			10			6			16			24
Total		97			458			364			138			203			362			555			502
Operating income (loss)		(38	)		(357	)		(204	)		56			(48	)		(228	)		(395	)		(148	)
Equity earnings and other income (expense)		(12	)		(24	)		35			46			41			(297	)		(36	)		81
Earnings (loss) before interest expense and income taxes (EBIT)	$	(50	)	$	(381	)	$	(169	)	$	102		$	(7	)	$	(525	)	$	(431	)	$	(67	)
Significant items:
Operating expenses	$	27		$	380		$	243		$	15		$	80		$	266		$	407		$	258
Equity earnings and other income		61			81			23			15			11			346			142			38
Total Significant Items	$	88		$	461		$	266		$	30		$	91		$	612		$	549		$	296
EBIT
Domestic power	$	12		$	44		$	(73	)	$	41		$	(33	)	$	(392	)	$	56		$	(32	)
International power		(41	)		(416	)		(84	)		70			42			(117	)		(457	)		(14	)
Power G&A		(21	)		(9	)		(12	)		(9	)		(16	)		(16	)		(30	)		(21	)
Total Power	$	(50	)	$	(381	)	$	(169	)	$	102		$	(7	)	$	(525	)	$	(431	)	$	(67	)

13

POWER

OPERATING DATA

	2005				2004								Year-to-Date
	First		Second		First		Second		Third		Fourth		2005		2004
Price Risk Management Statistics
Forward Non-trading Book (in millions)	$	65	$	60	$	1,823	$	946	$	905	$	665	$	60	$	946
Asset Statistics
Power Assets Capacity (Net Megawatts Owned)
Domestic		1,022		905		3,982		3,715		1,950		1,341		905		3,715
International		4,403		4,307		4,446		4,446		4,456		4,487		4,307		4,446
Total		5,425		5,212		8,428		8,161		6,406		5,828		5,212		8,161
Power Generation Volumes (MMWh) — for consolidated plants only		499		322		1,512		1,593		1,810		1,339		821		3,105

14

FIELD SERVICES

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES

(Excludes Intersegment Transactions)

	2005						2004										Year-to-Date
(In millions)	First			Second			First		Second		Third			Fourth			2005			2004
Gross Margin		3			7			45		44		53			23			10			89
Operating expenses
Operation and maintenance		(1	)		4			26		25		19			32			3			51
(Gain) loss on long-lived assets		1			6			2		6		506			(6	)		7			8
Depreciation, depletion and amortization		1			1			3		4		3			2			2			7
Taxes, other than income taxes		—			1			4		2		2			—			1			6
Total		1			12			35		37		530			28			13			72
Operating income (loss)		2			(5	)		10		7		(477	)		(5	)		(3	)		17
Equity earnings and other income		180			2			26		20		538			1			182			46
Earnings (loss) before interest expense and income taxes (EBIT)	$	182		$	(3	)	$	36	$	27	$	61		$	(4	)	$	179		$	63
Significant items:
Operating expenses	$	1		$	6		$	3	$	7	$	505		$	(6	)	$	7		$	10
Equity earnings and other income		(180	)		—			1		1		(513	)		10			(180	)		2
Total Significant Items	$	(179	)	$	6		$	4	$	8	$	(8	)	$	4		$	(173	)	$	12
Equity earnings from GulfTerra Energy Partners, L.P. (1)	$	—		$	—		$	34	$	29	$	31		$	6		$	—		$	63
Cash Distributions from GulfTerra Energy Partners, L.P.
Common unit ownership	$	—		$	—		$	7	$	7	$	7		$	5		$	—		$	14
Series C unit ownership		—			—			8		8		8			—			—			16
General partner ownership		—			—			21		22		22			2			—			43
Total	$	—		$	—		$	36	$	37	$	37		$	7		$	—		$	73

⁽¹⁾ In September 2004, in connection with the closing of the merger between GulfTerra and Enterprise, we completed the sale of substantially all of our interests in GulfTerra, as well as nine processing plants located in South Texas to affiliates of Enterprise. The GulfTerra interests sold were our interest in the general partner of GulfTerra, 10.9 million Series C units and 2.9 million GulfTerra common units. Our total gross cash proceeds from the sales were approximately $1.03 billion. In addition to the cash proceeds, we received a 9.9 percent interest in the general partner of the combined organization, Enterprise Products GP, LLC. Our remaining GulfTerra common units were exchanged for approximately 13.5 million common units in Enterprise as a result of the merger. As of December 31, 2004, we had approximately $257 million of investments in unconsolidated affiliates on our balance sheet related to Enterprise. We sold our remaining interests to Enterprise in January 2005.

15

OTHER NON-REGULATED ⁽¹⁾

EARNINGS BEFORE INTEREST EXPENSE AND INCOME TAXES

(Excludes Intersegment Transactions)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Gross margin and other revenue	$	19		$	16		$	30		$	14		$	17		$	17		$	35		$	44
Operating expenses
Operation and maintenance		5			6			9			8			6			4			11			17
(Gain) loss on long-lived assets		—			(4	)		—			—			(1	)		3			(4	)		—
Depreciation, depletion and amortization		2			1			2			2			2			3			3			4
Taxes, other than income taxes		3			1			2			5			6			2			4			7
Total		10			4			13			15			13			12			14			28
Operating income (loss)		9			12			17			(1	)		4			5			21			16
Equity earnings and other income (expense)		(1	)		—			1			(3	)		1			3			(1	)		(2	)
Earnings (loss) before interest expense and income taxes (EBIT)	$	8		$	12		$	18		$	(4	)	$	5		$	8		$	20		$	14
Significant items:
Operating expenses	$	—		$	(4	)	$	—		$	—		$	(1	)	$	3		$	(4	)	$	—
Total Significant Items	$	—		$	(4	)	$	—		$	—		$	(1	)	$	3		$	(4	)	$	—
EBIT
Global Networks (Telecom)	$	—		$	8		$	(2	)	$	(6	)	$	—		$	7		$	8		$	(8	)
LNG		—			—			—			(2	)		—			(3	)		—			(2	)
EnCap		4			2			15			—			2			—			6			15
Petroleum Markets Other		4			2			5			4			3			4			6			9
Total EBIT	$	8		$	12		$	18		$	(4	)	$	5		$	8		$	20		$	14

(1) Included in Corporate results in SEC filings

16

EL PASO CORPORATION

SCHEDULE OF SIGNIFICANT ITEMS

(UNAUDITED)

	2005						2004												Year-to-Date
(In millions)	First			Second			First			Second			Third			Fourth			2005			2004
Restructuring costs
Employee severance, retention and transition costs	$	1		$	2		$	27		$	6		$	2		$	3		$	3		$	33
Facility closures		—			27			—			—			30			50			27			—
Total restructuring costs		1			29			27			6			32			53			30			33
Impairments and net (gain) loss on sale of long-lived assets
Long-lived assets impairment		28			366			246			23			576			279			394			269
Long-lived assets net (gain) loss on sales		—			(5	)		(7	)		(6	)		5			(8	)		(5	)		(13	)
Minority interest related to Nejapa impairment		—			(6	)		—			—			—			—			(6	)		—
Total (gain) loss on long-lived assets		28			355			239			17			581			271			383			256
Impairments and net (gain) loss on sale of investments
Equity investments impairment		85			88			18			19			14			346			173			37
Equity investments net (gain) loss on sales		(204	)		(1	)		6			(1	)		(520	)		(6	)		(205	)		5
Cost basis investments impairment		—			—			—			(2	)		2			2			—			(2	)
Total (gain) loss on investments		(119	)		87			24			16			(504	)		342			(32	)		40
Macae receivable impairment		—			18			—			—			—			—			18			—
Western Energy Settlement		59			—			—			—			—			—			59			—
Total significant items impacting EBIT	$	(31	)	$	489		$	290		$	39		$	109		$	666		$	458		$	329
Significant Items impacting EBIT by segment:
Pipeline Group	$	—		$	(2	)	$	4		$	1		$	(4	)	$	(16	)	$	(2	)	$	5
Production		—			2			9			2			1			10			2			11
Marketing and Trading		—			—			2			—			—			—			—			2
Power		88			461			266			30			91			612			549			296
Field Services		(179	)		6			4			8			(8	)		4			(173	)		12
Other non-regulated		—			(4	)		—			—			(1	)		3			(4	)		—
Corporate (see below)		60			26			5			(2	)		30			53			86			3
Total significant items impacting EBIT	$	(31	)	$	489		$	290		$	39		$	109		$	666		$	458		$	329
Corporate
Significant items:
Operating expenses	$	1		$	26		$	5		$	(2	)	$	30		$	50		$	27		$	3
Western Energy Settlement		59			—			—			—			—			—			59			—
Equity earnings and other income		—			—			—			—			—			3			—			—
Total Significant Items	$	60		$	26		$	5		$	(2	)	$	30		$	53		$	86		$	3

17