BR ANNOUNCES PLANS TO BUILD WYOMING PIPELINE.HOUSTON--(BUSINESS WIRE)--March 17, 1999--Burlington Resources Inc. (NYSE NYSE See: New York Stock Exchange :BR) today announced that it has executed an agreement with Enron Capital & Trade Resources Corp., ("ECT ECT electroconvulsive therapy. ECT abbr. electroconvulsive therapy ECT Electroconvulsive therapy sometimes is used to treat depression or mania when pharmaceutical treatment fails. ") to form Lost Creek Lost Creek can refer to several places:
Wamsutter is the largest settlement in the Great Divide Basin. Geography Wamsutter is located at (41. . The agreement provides a 65 percent interest for BR, with ECT holding the remaining interest. The proposed gathering system will transport both current and future BR gas from the Madden Field, in addition to contracted gas from third parties located near the proposed gathering route. Projected construction time is one year, with first deliveries expected in the first quarter of 2000. BR has maintained a continuous drilling program at the Madden Field, targeting the very prolific deep Madison formation, as well as the shallower Lower Fort Union and Lance formations. In late 1998, BR connected its third Madison well and drilled 14 successful shallower formation wells. The Madison formation gas requires removal of carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. and hydrogen sulfide hydrogen sulfide, chemical compound, H2S, a colorless, extremely poisonous gas that has a very disagreeable odor, much like that of rotten eggs. It is slightly soluble in water and is soluble in carbon disulfide. at the Lost Cabin Gas Plant. BR completed a project to debottleneck the plant in late 1998 and initiated construction of a plant expansion which will double capacity by the fourth quarter of 1999. The three existing Madison wells have daily deliverability that will fill the total plant inlet capacity of 130 million cubic feet of gas per day when the expansion is completed. Total gross field production from all formations is projected to be approximately 240 million cubic feet of gas per day by year-end 1999. 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. This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected is included in the Company's periodic reports filed with the Securities and Exchange Commission. |
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