Concord Energy Inc. signs letter of intent to joint venture Arkansas Gas Processing project.BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Jan. 13, 1995--Jerry Swon, President of Concord Energy Inc. (Concord) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CCNG CCNG Call Center Network Group International, Inc. (Flower Mound, TX) ), today announced that the company and Panther panther, name commonly applied to the leopard, especially to a black leopard. It is also used locally to designate various other cats including the jaguar and the puma. Hydrocarbons Corp. (PHC PHC Primary health care, see there ) of Shreveport, Louisiana, have signed a letter of intent to form a joint venture to participate in a gas gathering and processing operation in Arkansas, components of which will include a nitrogen and liquid extraction plant and a pipeline system to gather gas from four producing fields. Financing for the project, on which Concord's share of the expenditures will amount to approximately $5 million, is currently being negotiated. Based on projected throughput volume, it is anticipated that the project should generate a two to three year payback of the initial funding, following which Concord will retain a 20% interest. Concord is an oil and gas operating and investment company with interest in over 150 producing wells located in Texas and Louisiana. Concord's well operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. currently manages field operations for about 20% of these wells. The majority of the wells range in depth from 7,000-15,000 feet and produce from prolific oil and gas formations. CONTACT: Concord Energy Inc.
Jerry Swon, 908/766-1020
or
Ron Como & Associates Inc.
212/227-3010
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