Dominion Announces Successful Appraisal of Devils Tower Deepwater Discovery.Business Editors/Energy Writers NEW ORLEANS--(BUSINESS WIRE)--June 16, 2000 Dominion Exploration & Production, Inc., a subsidiary of Dominion (NYSE NYSE See: New York Stock Exchange : D), announced today confirmation of commercial quantities of hydrocarbons at its previously announced Devils Tower discovery, located about 140 miles southeast of New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded at Mississippi Canyon Block 773. This confirmation is the result of appraisal drilling that extended the field into an adjacent fault block. The Mississippi Canyon 773 no. 3 well was drilled to a total depth of 15,000 feet below sea level by the Homer Ferrington drilling rig in 5,610 feet of water. The well encountered hydrocarbons in three zones in a separate fault block northeast of the discovery well, the Mississippi Canyon 773 no. 2 (announced February 15, 2000). The appraisal well is still being evaluated and a sidetrack well will be drilled to further delineate the accumulation. Dominion owns a 60-percent working interest in the project and will assume operatorship after the drilling and evaluation of the Mississippi Canyon 773 no. 3 and sidetrack. Mariner Mariner Any of a series of unmanned U.S. space probes sent near Venus, Mars, and Mercury. Mariners 2 (1962) and 5 (1967) passed Venus within 22,000 mi (35,000 km) and 2,500 mi (4,000 km), respectively, and made measurements of temperature and atmospheric density. Energy, Inc. (presently the operator) has a 20-percent working interest. Other partners are Pioneer Natural Resources (15.83375 percent) and Westport Oil and Gas Company, Inc. (4.16625 percent). Dominion Exploration & Production is the Dominion subsidiary that explores for and produces natural gas and oil in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Its offshore unit is based in New Orleans. Dominion is the nation's largest fully integrated gas and electric company. It has four million customers, 20,000 megawatts of electric power generation, 2.8 trillion cubic feet of natural gas and oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally , and operates North America's largest natural gas storage system. Dominion is positioned to serve the more than fifty million homes and businesses in the Midwest to Northeast quadrant quadrant, in analytic geometry quadrant. 1 In analytic geometry, one of the four regions of the plane determined by two lines, the x-axis and the y-axis. of the United States. This press release contains 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. . The company wishes to caution readers that the assumptions which form the basis for forward-looking statements with respect to or that may impact earnings for fiscal 2000, and thereafter, include many factors that are beyond the company's ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. . Other factors include, but are not limited to, weather conditions, economic conditions in the company's service territories, fluctuations in energy-related commodity prices, conversion activity, other marketing efforts and other uncertainties. |
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