text: El Paso Sees \$2.7 Bln Drop in Assets  NEW YORK/HOUSTON (Reuters) - El Paso Corp. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=EP.N target=/stocks/quickinfo/fullquote"&gt;EP.N&lt;/A&gt; on Monday  disclosed the full damage from its drastic cut in reserves  earlier this year, saying a long-awaited restatement will slash  the value of its oil and gas assets by \$2.7 billion.