U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
El Paso Energy Corporation
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(Last) (First) (Middle)
1001 Louisiana Street
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(Street)
Houston, Texas 77002
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
10/15/99
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Crystal Gas Storage, Inc. (Symbol AMEX: COR)
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5 Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
See attached
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing
[ ] Form Filed by One Reporting Person
[ X ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock, par value
$0.01 per share 1,708,743 (see attached) (I) (see attached)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see
Instruction 5(b)(v).
(Print or Type Responses)
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
1. Title of Derivative Date Expira- Number Price of Indirect Beneficial
Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
$.06 Senior Immed Common Stock, par 894 (I) (see
Convertible Voting value $.01 per share attached)
Preferred Stock,
par value $.01 per
share
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</TABLE>
Explanation of Responses:
This Initial Statement of Beneficial Ownership on Form 3 (this "Form
3") is being filed by El Paso Energy Corporation, a Delaware corporation
("El Paso") and El Paso Energy Acquisition Co. ("Merger Sub") a direct
wholly owned subsidiary of El Paso. On October 15, 1999, El Paso, Merger
Sub and Crystal Gas Storage, Inc. a Louisiana corporation ("Crystal")
entered into an Agreement and Plan of Merger (the "Merger Agreement")
providing for, among other things, the merger of Crystal with and into
Merger Sub. Simultaneously with the execution and delivery of the Merger
Agreement, El Paso and Merger Sub entered into Shareholders Agreements
dated October 15, 1999 (the "Shareholders Agreements") with certain
shareholders of Crystal (the "Lock-up Shareholders") as follows: (i) Soros
Fund Management LLC - 1,628,066 shares of Common Stock and 3,971,260 shares
of $.06 Senior Convertible Voting Preferred Stock; and (ii) George Soros -
80,647 shares of Common Stock. Under the Shareholders Agreements, the
Lock-up Shareholders have agreed, subject to the terms thereof, to vote
their shares in favor of the merger described in the Merger Agreement. The
Lock-up Shareholders have also granted Merger Sub a proxy to vote their
shares, representing approximately 64% of the issued and outstanding voting
power of Crystal as of June 30, 1999, in favor of the merger.
The foregoing summary of the Shareholders Agreements is qualified in
its entirety by reference to such agreements, which have been filed as
exhibits to the Schedule 13D filed with respect to Crystal on the date
hereof.
/s/ Britton White Jr. 10/22/99
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(**)Signature of Reporting Person Date
Britton White Jr.,
General Counsel and Executive Vice
President on behalf of El Paso
Energy Corporation
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient, See Instruction 6 for
procedure.
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ATTACHMENT
Joint Filer Information
Name: El Paso Energy Acquisition Co.
Address: c/o El Paso Energy Corporation
1001 Louisiana Street
Houston, Texas 77002
Designated Filer: El Paso Energy Corporation
Issuer & Ticker Symbol: Crystal Gas Storage, Inc. (COR)
Date of Event Requiring
Statement: 10/15/99
Signature: EL PASO ENERGY ACQUISITION CO.
By: /s/ Ralph Eads
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Name: Ralph Eads
Title: Executive Vice President
