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HUGOTON ENERGY ACQUIRES $73.5 MILLION PROPERTY GROUP IN HUGOTON FIELD

 WICHITA, Kan., July 20 /PRNewswire/ -- Hugoton Energy Corp., an exploration and production company, has acquired an additional $73.5 million in oil and gas interests in the Hugoton Embayment and the flanks of the Anadarko Basin. The properties are located in Kansas, Oklahoma and Texas. The acquisition, from an undisclosed seller, is retroactive to Jan. 1, 1993.
 Approximately 85 percent of the newly acquired properties are natural gas interests, with the remaining 15 percent in crude oil interests. The company will operate all of the properties.
 Hugoton Energy's operations have grown from fewer than 50 wells in 1988 to more than 800 wells today. The company is one of Kansas' most active independent operators, and is one of the single largest owners of mineral rights in the Kansas Hugoton Field.
 Headquartered in Wichita, Hugoton Energy has offices in Houston and Pampa, Texas and Garden City, Kan. The company has assets in excess of $125 million.
 -0- 7/20/93
 /CONTACT: Floyd C. Wilson of Hugoton Energy, 316-262-1522/


CO: Hugoton Energy Corp. ST: Kansas, Texas, Oklahoma IN: OIL SU: TNM

BB -- DV006 -- 3448 07/20/93 14:22 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
Words:188
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