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KCS ENERGY ACQUIRES INTERESTS IN 80 WELLS IN TEXAS

 HOUSTON, March 18 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) announced today it has signed a letter of intent to acquire varying working interests in approximately 80 producing gas and oil wells in the Texas Gulf Coast region from a group of individuals headed by Neil Hanson. Substantially all of the wells are operated by Hanson Minerals Company in Houston.
 The purchase price is $8,500,000 with the selling group receiving half in cash and half in KCS Energy common stock, approximately 131,000 shares.
 The acquisition, which is primarily in five producing fields, will add of 8.7 billion cubic feet of gas and 400,000 barrels of oil/condensate to KCS Energy's proved reserves. "This investment should provide KCS Energy with good cash flow as well as broaden our oil and gas base," James W. Christmas, president, said.
 Christmas said "the acquisition is part of our continuing program to expand our interests in the Southwest and to further the growth of our oil and gas exploration and production segment."
 Earlier this month KCS Energy announced it had acquired an additional 22 percent interest in the Bay Springs oil field in Jasper County, Miss., increasing its working interest in the field to 40 percent and adding approximately 1.5 million barrels of oil to its proved reserves.
 KCS Energy is engaged in oil and gas exploration and production, natural gas transportation, natural gas marketing and energy services with operations in Texas, Louisiana, Mississippi, New York, New Jersey, Virginia and Pennsylvania.
 -0- 3/18/93
 /CONTACT: Henry A. Jurand, 908-632-1770, or in Houston, C. R. Devine, 713-877-8006, both of KCS Energy, Inc./
 (KCS)


CO: KCS Energy, Inc. ST: Texas IN: OIL SU: TNM

KD-OS -- NY068 -- 7576 03/18/93 15:16 EST
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Publication:PR Newswire
Date:Mar 18, 1993
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