Bellwether Exploration Announces Drilling Success.HOUSTON--(BUSINESS WIRE)--Aug. 30, 1999-- Bellwether Bellwether A leading indicator of trends. Notes: A bellwether stock is a stock that is used to gauge the performance of the market in general. General Motors was an example of a bellwether stock, hence the saying "What's good for GM is good for America. Exploration Company (Nasdaq:BELW) announced today the successful completion of its No. 1 Well in South Timbalier Block 212, offshore Louisiana. The well tested at an initial rate of 11,982 million cubic feet of gas and 94 barrels of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. per day from Pleistocene sands with flowing tubing pressure of 3,180 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area on a 25.5/64 inch choke. Bellwether owns a 25% working interest in this well, which is operated by IP Petroleum Company Inc. In addition, the company recompleted its High Island Block 553 A-7 well, located offshore Texas. The well tested at a rate of 6.1 million cubic feet of gas and 269 barrels of condensate per day from the Basal Nebraskan upper Lobe A sand on a 13/64 inch choke with a flowing tubing pressure of 6,500 pounds per square inch. Bellwether owns a 23% working interest in this well, which is operated by Torch Operating Company operating company A business that engages in transactions with outsiders. . "Current management is dedicated to exceeding previously forecasted cash flow and production estimates for the remainder of this year and for calendar year 2000," said J.P. Bryan, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bellwether. "With gas prices at current levels, Bellwether is making a concerted effort to exploit all potentially significant gas opportunities." Bellwether Exploration Company is an independent oil and gas exploration and production Company headquartered in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . Bellwether employs a balanced program of producing property acquisitions and technology-driven exploration and exploitation to increase its reserves, cash flow and net asset value. The Company's principal area of activity is the Texas/Louisiana Gulf Coast, both onshore and offshore. For more information about Bellwether's operations please visit the Company's web site at http://www.bellwetherexp.com. |
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