Pogo announces two new natural gas discoveries in Gulf of Mexico: New reserves added.HOUSTON--(BUSINESS WIRE)--Nov. 2, 1995--Pogo Producing Co. ("PPP (Point-to-Point Protocol) The most popular method for transporting IP packets over a serial link between the user and the ISP. Developed in 1994 by the IETF and superseding the SLIP protocol, PPP establishes the session between the user's computer and the ISP using "-NYSE) today announced two gas discoveries on two company-operated 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 blocks in which it holds a 50% working interest. Pogo and its joint venture partner, Nippon Oil The Nippon Oil Corporation (新日本石油株式会社 Exploration U.S.A. Limited, successfully drilled, completed and tested a horizontal gas well at a vertical depth of approximately 2,100 feet, located in 150 feet of water on a Federal OCS OCS - Object Compatibility Standard Lease acquired in August, 1994. The High Island A-451 #1 well encountered 1,040 feet of horizontal gas pay. The vertical well, as planned, was sidetracked from the pilot hole drilled early in the first quarter of 1995. The well tested 10.3 million cubic feet of gas per day on a 51/64 inch choke. First production for these new gas reserves is scheduled for next month. Pogo and a Nippon affiliated company, NOEX NOEX Nippon Oil Exploration Limited (Gulf Production) Inc., also drilled a successful exploratory well at Main Pass Block 131 encountering a net 61 feet of gas and condensate bearing sands. Main Pass Block 131 was acquired in equal shares by Pogo and Nippon at an OCS lease sale held in 1992. The well has been temporarily suspended and Pogo plans to set a small platform and flow the well to the company's existing Main Pass 123 Field platform, which is less than four miles northeast of this new discovery. The Main Pass 131 well is scheduled to be on-stream in the second half of 1996 and will add new oil and gas reserves for the company. Pogo's Chairman, Paul G. Van Wagenen, said, "Pogo is pleased to report the discovery of these new reserves, and Pogo is continuing to identify new offshore exploration opportunities. We are committed to expanding our excellent oil and natural gas reserves base and the results announced today are evidence of that." Pogo Producing Co. explores for, develops and produces oil and natural gas. Headquartered in Houston, Pogo owns interests in 77 (79 if and when two additional new OCS blocks are awarded) federal and state lease blocks offshore Louisiana and Texas in the Gulf of Mexico. Pogo also owns approximately 125,000 gross leasehold acres in major oil and gas provinces onshore 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 approximately 1,300,000 undeveloped gross acres in the Kingdom of Thailand. Pogo is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Pacific Stock Exchanges under the symbol PPP. CONTACT: Pogo Producing Co., Houston Paul G. Van Wagenen, 713/297-5001 |
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