Belco acquisition of acreage in Michigan.NEW YORK--(BUSINESS WIRE)--June 6, 1996--Belco Oil & Gas Corp. (BOG) announced today a joint exploration and development program with KEP KEP Kessler-Ellis Products KEP Kurier-, Express- und Paket (German: Messenger, Express and Parcel) KEP Nepalganj, Nepal - Nepalganj (Airport Code) KEP Kaiser Electroprecision Energy Resources LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Presco Inc. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc acreage in the Central Basin of Michigan. Under this agreement, Belco acquired a 35 percent interest in approximately 220,000 net acres with an option to purchase an additional 15 percent interest in the acreage. The agreement contemplates an initial aggregate capital expenditure of $5 million to drill approximately nine grass roots wells and/or re-entries of existing wells. Belco will pay 75 percent of the cost of the initial wells and proportionately to its interest thereafter. Field operations are expected to commence within the next two to three months. Belco will serve as operator of the program. To date, over 48,000 wells have been drilled in the Central Michigan Basin with cumulative production exceeding 10 trillion cubic feet of gas equivalents. Belco Oil & Gas Corp., headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is an independent energy company engaged in the exploration, development and production of natural gas and oil. CONTACT: Belco Oil & Gas Corp., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Laurence D. Belfer, 212/644-0561 or Myra E. Turoff, 212/508-9539 |
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