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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event Reported) May 22, 2000
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COLUMBIA ENERGY GROUP
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(Exact name of registrant as specified in its charter)
Delaware 1-1098 13-1594808
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
13880 Dulles Corner Lane, Herndon, VA 20171-4600
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(Address of principal executive offices)
Registrant's telephone number, including area code (703) 561-6000
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Item 5. Other Events
Information contained in a News Release dated May 22, 2000 is
incorporated herein by reference.
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SIGNATURE
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 hereunto duly authorized.
Columbia Energy Group
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(Registrant)
By /s/ J. W. Grossman
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Vice President & Controller
Date: May 22, 2000
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FOR IMMEDIATE RELEASE CONTACTS:
May 22, 2000 Financial Community
Thomas L. Hughes 703/561-6001
Melissa E. Bockelmann 703/561-6011
News Media
R. A. Rankin, Jr. 703/561-6044
Michael J. McGarry 703/561-6063
COLUMBIA ENERGY GROUP TO SELL PROPANE AND PETROLEUM MARKETING OPERATIONS
HERNDON, Va., May 22, 2000 - Columbia Energy Group today announced that
it has decided to sell Columbia Propane Corporation, a wholly owned subsidiary.
Based in Richmond, Va., Columbia Propane is the fifth largest propane marketer
in the United States, with operations in more than 30 states and nearly 350,000
customers. Annualized sales are approximately 270 million gallons.
The company also announced its decision to sell Columbia Petroleum
Corporation, a diversified petroleum distribution company based in Richland, Pa.
Columbia Petroleum engages in retail and wholesale petroleum product sales,
transportation, and branded gasoline distribution. In addition to its primary
service territory in Pennsylvania, Columbia Petroleum also serves customers in
New Jersey, Maryland, and Virginia. Its annualized petroleum sales are
approximately 320 million gallons.
Columbia Energy Group officials said the planned dispositions resulted
from its ongoing evaluation of assets in view of the company's business
priorities. It was determined that these assets are not consistent with
Columbia's long-term strategy. Columbia's review of assets and operations is
continuing.
A briefing package for potential buyers will be prepared. Companies
with an interest in acquiring either of the businesses should contact Philip
Aldridge, vice president of corporate finance at Columbia Energy Group, (703)
561-6197. For specific information regarding Columbia Petroleum, please contact
Greg Driscoll, managing director of Legg Mason at (215) 496-8314.
Columbia Energy Group, based in Herndon, Va., is one of the nation's
leading energy services companies, with assets of approximately $7 billion. Its
operating companies engage in nearly all phases of the natural gas business,
including exploration and production, transmission, storage and distribution, as
well as retail energy marketing, propane and petroleum product sales, and
electric power generation. Information about Columbia Energy Group (NYSE:CG) is
available on the Internet at www.columbiaenergygroup.com.
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