Corporate Profile for Forcenergy Inc, dated Nov. 8, 1996.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0-
Published Date: Nov. 8, 1996
Company Name: Forcenergy Inc
Address: 2730 S.W. 3rd Ave., Suite 800
Miami, FL 33129
Main Telephone
Number: 305/856-8500
Chief Executive
Officer: Stig Wennerstrom
Chief Financial
Officer: E. Joseph Grady
Investor Relations
Contact: J. Russell Porter - V.P. Corp. Dev.
Business number: 305/856-8500
Home number: 305/668-0553
Public Relations
Contact: J. Russell Porter - V.P. Corp. Dev.
Business number: 305/856-8500
Home number: 305/668-0553
Trading Symbol: FGAS - NASDAQ
Industry: OIL/GAS
Company description: Forcenergy is an independent oil and gas company engaged in the exploration, acquisition, development and production of oil and natural gas properties. The company has experienced significant growth during the past five years, primarily through the exploitation, enhancement and development of acquired properties in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Forcenergy owns interests in or rights to 81 lease blocks in federal and state waters in the Gulf of Mexico, including 100% working interest in 32 lease blocks and 50% or greater working interest in 18 other lease blocks. Forcenergy focuses its drilling activities on producing properties in a relatively concentrated area in the Gulf of Mexico which permits the company to utilize its base of geological, engineering and production expertise to maximize its drilling success and minimize finding and development costs. The company's concentration of drilling activities on its producing properties allows the utilization of existing infrastructure which greatly reduces incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. lease operating costs operating costs npl → gastos mpl operacionales and costs associated with new production facilities. Forcenergy's proven reserves totaled 365 BCFE BCFE Boundary Committee for England BCFE Ballyfermot College of Further Education (Dublin, Ireland) BCFE Board Certified Forensic Examiner Bcfe Billions of Cubic Feet Equivalent (Per Day; Gas Exploration) at 1/1/96. 1996 revenues are projected to be approximately $130 million. An initial public offering of the company's stock was completed in August 1995 at a price of $10 per share. Current share price as of 11/5/96 is $27.25. CONTACT: Forcenergy Inc |
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