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ENRON OIL & GAS COMPANY ANNOUNCES POTENTIALLY SIGNIFICANT NATURAL GAS DISCOVERY IN MATAGORDA ISLAND BLOCK 556

 HOUSTON, Oct. 19 /PRNewswire/ -- Enron Oil & Gas Company (EOG) (NYSE: EOG) today announced a potentially significant natural gas discovery in Matagorda Island Block 556, located in the Gulf of Mexico about 10 miles south of Port O'Connor, Texas. The discovery well, Matagorda Island 556 Well A-9, has been drilled and completed. A well drilled 5,200 feet to the east, Matagorda Island 556 Well C-16, has extended the discovery.
 The A-9 well encountered four natural gas zones totaling approximately 100 feet of net natural gas productive sands below 7,800 feet true vertical depth. The well was completed in the deepest pay sand and commenced sales on Sept. 23, 1993. Well A-9 currently is flowing at the rate of 10 million cubic feet per day of natural gas and 20 barrels of condensate per day on a 29/64th inch choke at a flowing tubing pressure of 2,400 pounds per square inch.
 The C-16 well encountered two natural gas zones totaling in excess of 55 feet of net natural gas productive sands below 8,500 feet true vertical depth. Drilling operations are continuing to deeper horizons, and additional drilling is anticipated in the area. The well will be placed on production prior to year end.
 Enron is the operator of both wells on Block 556 and has working interest ranging from 50 percent to 61 percent. The remaining working interest is owned by Elf Exploration, Inc., a subsidiary of Elf Aquitaine.
 "This is a part of our successful efforts to re-emphasize our offshore non-tight gas sands drilling programs," said Forrest E. Hoglund, chairman, president and CEO of EOG. "In addition to these activities, we also are encountering particular success in our exploration and development efforts in Oklahoma, West Texas and Canada."
 Enron Oil & Gas Company is one of the largest independent (non- integrated) oil and gas companies in the United States in terms of domestic proved reserves. The company's reserve base is 85 percent domestic and 94 percent natural gas. EOG is listed on the New York Stock Exchange and is traded under the ticker symbol, "EOG."
 -0- 10/19/93
 /CONTACT: A.H. Davis of Enron Oil & Gas Company, 713-853-6941/
 (EOG)


CO: Enron Oil & Gas Company ST: Texas IN: OIL SU: DSC

TW -- NY092 -- 4128 10/19/93 15:42 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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