Printer Friendly

PLAINS RESOURCES REPORTS YEAR-END 1991 RESERVES

 PLAINS RESOURCES REPORTS YEAR-END 1991 RESERVES
 HOUSTON, March 26 /PRNewswire/ -- Plains Resources (AMEX: PLX) today


reported year-end 1991 oil and gas reserves of 13.7 million net equivalent barrels. The company said its 1991 reserves were up about 2 percent from the 13.4 million net equivalent barrels reported a year ago despite the April 1991 sale of substantially all its Mid-Continent properties. The Mid-Continent properties constituted about 3.5 million net equivalent barrels or 26 percent of the company's 1990 reserve base, Plains said.
 Oil and natural gas liquids reserves were up about 32 percent to 6.6 million barrels from 5 million barrels at year-end 1990. Natural gas reserves declined by about 15 percent to 42.9 billion cubic feet from 50.2 billion cubic feet a year ago as the result of the Mid- Continent sale, the company said.
 During 1992, oil and natural gas liquids production increased to approximately 401,000 barrels, up over 17 percent from 342,000 barrels produced in 1990. Natural gas production declined during the year by about 14 percent to 3.8 billion cubic feet from 4.4 billion cubic feet produced in 1990.
 Plains Resources is an independent oil and gas exploration and production company headquartered in Houston. During 1991, it was ranked by The Oil and Gas Journal as 113th among the largest publicly traded oil and gas companies in the United States.
 -0- 3/26/92
 /CONTACT: Nancy J. Kerby of Plains Resources, 713-654-1414/
 (PLX) CO: Plains Resources ST: Texas IN: OIL SU:


SH -- NY032 -- 1854 03/26/92 09:51 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 26, 1992
Words:264
Previous Article:ENVIRONMENTAL SERVICES OF AMERICA ANNOUNCES RESULTS FOR 1991
Next Article:TV ANSWER LAUNCHES CHARTER PARTNERS PROGRAM AS FIVE NATIONAL RETAILERS ADD INTERACTIVE TV TO CONSUMER DIRECT MARKETING PROGRAMS
Topics:


Related Articles
CHIEFTAIN REPORTS OPERATING & FINANCIAL HIGHLIGHTS
HADSON ENERGY RESOURCES ANNOUNCES FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS AND YEAR-END RESERVE ESTIMATES
/C O R R E C T I O N -- PLAINS RESOURCES/
PLAINS RESOURCES REPORTS 1991 RESULTS
CONVEST ENERGY REPORTS 1991 RESULTS AND YEAR-END RESERVES
PLAINS RESOURCES TO ACQUIRE STOCKER RESOURCES
PLAINS RESOURCES COMPLETES STOCKER ACQUISITION
PLAINS RESOURCES REPORTS THIRD QUARTER RESULTS
PLAINS RESOURCES ANNOUNCES PRODUCING PROPERTY ACQUISITION
PLAINS RESOURCES ANNOUNCES PRODUCING PROPERTY ACQUISITION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters