El Paso Corp., the nation's largest natural gas pipeline operator, on Thursday said it expanded its natural gas hedging for 2007.

The company said it hedged 210 billion cubic feet (Bcf) of natural gas production at an average floor price of $7.64 per million British thermal unit (MMBtu). Of that production, 121 Bcf carry an average capped price of $11.80 per MMBtu.

Previously, El Paso hedged 130 Bcf of collars for 2007 with an $8 per MMBtu floor and a $16.02 per MMBtu ceiling. In addition, the company placed fixed-price swaps on approximately 5 Bcf of production with an average hedge price of $3.57 per MMBtu.

None of the derivatives are subject to margin calls, the company said.

Shares of El Paso advanced 26 cents to $14.04 in midday trading on the New York Stock Exchange.