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RIO GRANDE DRILLING COMPANY COMPLETES ACQUISITION

 RIO GRANDE DRILLING COMPANY COMPLETES ACQUISITION
 SAN ANTONIO, Texas, June 26 /PRNewswire/ -- Rio Grande Drilling


Company, a wholly-owned subsidiary of Rio Grande, Inc. (NASDAQ: RGDC), completed the acquisition of certain interests in oil and gas properties from Cincinnati based SHV Oil and Gas Company for approximately $3 million. The effective date of the acquisition was Jan. 1, 1992. The interests acquired by Rio Grande include certain properties located offshore Louisiana and onshore in Louisiana, Texas and Michigan.
 -0- 6/26/92
 /CONTACT: Gary Scheele, vice president of Rio Grande Drilling Company, 512-822-2193/
 (RGDC) CO: Rio Grande Drilling Company; SHV Oil and Gas Company ST: Texas IN: OIL SU: TNM


AH -- NY065 -- 4333 06/26/92 16:14 EDT
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Publication:PR Newswire
Date:Jun 26, 1992
Words:118
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