3TEC Energy Corporation Announces Successful Well in the Breton Sound Block 34 Field, Offshore Louisiana.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Aug. 2, 2000 3TEC Energy Corporation ("3TEC") (Nasdaq:TTEN TTEN Thermoanaerobacter Tengcongensis ) announced today successful drilling results in the Breton Sound Breton Sound is a sound and a part of the coastline of the U.S. state of Louisiana; it is near Lake Pontchartrain. Two ships in the United States Navy have been named the USS Breton after this area. Block 34 Field, offshore Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. . The State Lease 14217 No. 1-A well was directionally drilled to a true vertical depth of 17,565 feet and encountered over 120 net feet of hydrocarbon-bearing sand in the Big Hum hum (hum) a low, steady, prolonged sound. venous hum a continuous blowing, singing, or humming murmur heard on auscultation over the right jugular vein in the sitting or erect position; it is , Krumbar and Hollywood (series) formations. Completion operations are expected to be finished by the end of August, with sales from the well anticipated by November 2000. 3TEC is the operator of the well and has a 50% working interest. The well, based on 3-D seismic, was drilled on properties that 3TEC acquired in February 2000 and is the second drilling success announced by the company in the last 30 days. Floyd C. Wilson, chairman and chief executive officer of 3TEC, stated, "Given the extent of our holdings in Breton Sound, this well is very significant to 3TEC. Besides adding to production, this well provides us data important to our ongoing 3-D drilling program in this area." 3TEC Energy Corporation is engaged in the acquisition, development, production and exploration of oil and natural gas, with properties geographically concentrated in East Texas and the Gulf Coast region. 3TEC also owns significant properties in the Permian and San Juan basins The San Juan Basin is a drainage basin and geologic structural basin in the Four Corners region of the Southwestern United States; its main portion covers around 4,600 square miles, encompassing much of northwestern New Mexico, northeastern Arizona, and parts of Colorado and Utah. and in the Mid-Continent regions. The information contained in this press release may contain projections, estimates and other forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those included in the forward-looking statements include the timing and extent of changes in commodity prices for oil and gas, environmental risks, drilling, producing and operating risks Operating risk The inherent or fundamental risk of a firm, without regard to financial risk. The risk that is created by operating leverage. Also called business risk. , risks related to exploration and development, uncertainties about the estimates of reserves, government regulation, competition and the ability of the company to meet its stated business goals. |
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