Printer Friendly

/CORRECTION -- NERCO INC./

 /CORRECTION -- NERCO INC./
 In SE002, "NERCO Sets Fourth Oil and Gas Platform in Gulf of


Mexico," moved Nov. 27, we are advised by the company that the second graph, fourth line, should read "platform has a design capacity to process up to 60 million cubic feet" rather than "60,000 cubic feet" as originally issued. Also, the fifth graph, fifth line, should read "with current daily production of 330 million cubic feet" rather than "330,000 cubic feet" as originally issued.
 The complete, corrected release follows:
 NERCO SETS FOURTH OIL AND GAS PLATFORM IN GULF OF MEXICO
 PORTLAND, Ore., Nov. 27 /PRNewswire/ -- NERCO Inc. (NYSE, Toronto: NER) today announced that its NERCO Oil & Gas Inc. subsidiary completed the setting of its fourth production platform this year in the Gulf of Mexico.
 The Vermilion Block 412 jacket is a four main pile, four skirt pile platform set in 467 feet of water. The facility is NERCO's deepest water platform and weighs approximately 3,500 tons. The platform has a design capacity to process up to 60 million cubic feet of natural gas per day and 3,000 barrels of oil per day.
 The platform jacket was towed Nov. 5 to its site 150 miles off the Louisiana coast and was set over a five well template located on the sea floor. A 1,450-ton deck, complete with production facilities, was placed on the jacket and pile foundation on Nov. 23. Completion of the existing five wells in the sub-sea template and subsequent drilling will occur using a deck mounted drilling rig. Installation of the 16-inch diameter gas sales line is underway.
 Drilling and completion activities in Vermilion 404/412 block will focus initially on gas production in early 1992 with oil production to follow by end of the year. NERCO Oil & Gas Inc., as operator, has a 50-percent interest in the tract with AGIP Petroleum Co. Inc.
 Headquartered in Portland, NERCO Inc. is a diversified natural resource company with major interests throughout North America in low sulfur coal, oil, natural gas and precious metals. NERCO Oil & Gas Inc. is one of the largest independent natural gas producers in the Gulf of Mexico, with current daily production of 330 million cubic feet of natural gas, 5,300 barrels of oil and 2,900 barrels of natural gas liquids. The company has 36 platforms producing in the Gulf region.
 -0- 12/4/91
 NOTE TO EDITOR: A black-and-white photo or 35mm slide of the platform is available upon request.
 /CONTACT: John C. Cummings, 503-731-6649, or Richard T. O'Brien, 503-731-6732, both of NERCO Inc./
 (NER) CO: NERCO Inc.; NERCO Oil & Gas Inc.; AGIP Petroleum Co. Inc. ST: Oregon, Louisiana IN: OIL SU:


LM -- SE011 -- 9316 12/04/91 15:18 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 4, 1991
Words:457
Previous Article:KODAK TO MOVE FORWARD WITH ARBITRATION FOLLOWING COURT RULING IN KODAK/CETUS CASE
Next Article:FRP PROPERTIES ANNOUNCES RESULTS
Topics:


Related Articles
NERCO REPORTS THIRD-QUARTER RESULTS
NERCO ANNOUNCES PROPOSED SALE OF GAS SUPPLY CONTRACT AND RECENT DEVELOPMENT ACTIVITIES
NERCO SETS FOURTH OIL AND GAS PLATFORM IN GULF OF MEXICO
NERCO MAKES MANAGEMENT CHANGES
NERCO BOARD DECLARES REGULAR DIVIDEND
NERCO ANNOUNCES BOARD AND MANAGEMENT APPOINTMENTS
NERCO BOARD DECLARES REGULAR DIVIDEND
NERCO AGREES TO SELL NATURAL GAS FIELD
NERCO AGREES TO SELL NATURAL GAS FIELD
NERCO ANNOUNCES SUCCESSFUL OIL & GAS DISCOVERY; OIL PRODUCTION BEGUN AT VERMILLION 412 FIELD

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters