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SCANA UNIT COMPLETES PURCHASE OF OIL AND GAS PROPERTIES FROM NICOR

 COLUMBIA, S.C., June 7 /PRNewswire/ -- SCANA Corp. (NYSE:SCG) announced today that its wholly-owned subsidiary, SCANA Petroleum Resources, Inc., has completed the acquisition of NICOR Exploration and Production Company (NEPC) from NICOR Oil and Gas Corporation, a subsidiary of NICOR, Inc. (NYSE: GAS).
 Lawrence M. Gressette, Jr., SCANA chairman and chief executive officer, said the acquisition will about double the Company's owned reserves of natural gas. "We are very pleased with this purchase and excited over the prospects of strengthening this portion of our energy business. The addition of these properties will broaden our base of operations with expanded gas producing properties and provide us with new development opportunities in the rapidly changing natural gas business."
 The new natural gas reserves are located principally in the Anadarko and Arkoma Basins of Oklahoma and the Gulf Coast region of Texas and Louisiana. SCANA Petroleum Resources is a Houston-based exploration and production company. At year-end 1992 SCANA Petroleum had approximately 151 billion cubic feet equivalent of proven natural gas reserves located primarily in the Gulf Coast region of Texas, Louisiana and Mississippi.
 With this acquisition, SCANA Petroleum Resources now owns approximately 283 billion cubic feet equivalent of proven natural gas reserves representing a total investment of approximately $255 million. The gas from these properties is sold entirely outside the state of South Carolina.
 SCANA Corporation, headquartered in Columbia, S.C., is an energy- based holding company engaged, through subsidiaries, in regulated electric and natural gas utility businesses and other non-regulated businesses.
 -0- 6/7/93
 /CONTACT: H. John Winn, Manager-Investor Relations & Shareholder Services, SCANA Corporation, 803-748-3240/
 (SCG GAS)


CO: SCANA Corporation; SCANA Petroleum Resources, Inc.; NICOR
 Exploration and Production Company; NICOR, Inc. ST: South Carolina IN: UTI SU: TNM


CM -- CH003 -- 5913 06/07/93 10:04 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
Words:297
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