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UNION TEXAS PETROLEUM HAS 20 PERCENT INTEREST IN OIL DISCOVERY IN BEAUFORT SEA OFFSHORE NORTHERN ALASKA

 UNION TEXAS PETROLEUM HAS 20 PERCENT INTEREST IN OIL DISCOVERY IN
 BEAUFORT SEA OFFSHORE NORTHERN ALASKA
 HOUSTON, Oct. 14 /PRNewswire/ -- Union Texas Petroleum Holdings, Inc. (NYSE: UTH) today reported that its subsidiary, Union Texas Petroleum Alaska Corporation, has a 20 percent working interest in a crude oil discovery on the Kuvlum prospect in the Beaufort Sea offshore northern Alaska.
 The ARCO Kuvlum No. 1 well flowed 3,400 barrels of oil per day at a wellhead pressure of 300 pounds-per-square-inch. Average gas-oil ratio during the test was 600 standard cubic feet of natural gas per barrel. The oil is 34 degree API gravity. Other details of the test and pay interval were not disclosed.
 The discovery well is located on the 35,000-acre Kuvlum prospect joint participation area, located 16 miles offshore in 110 feet of water in the Beaufort Sea and approximately 60 miles east of Prudhoe Bay.
 Drilling of the Kuvlum No. 1 well began in mid-August using the Kulluk, a floating drill rig designed for use in Arctic waters. It is under lease from BeauDril, Ltd., managed by Global Marine of Houston. Plans are being formulated for follow-up drilling to delineate the size of the discovery and determine whether it is commercial.
 ARCO Alaska Inc., is the operator of the Kuvlum prospect and holds a 50.42 percent working interest. The remaining interest is held by Phillips Petroleum Company with 12.58 percent; Total Minatome Corp. with 12.5 percent; Murphy Oil USA, Inc. with 3.94 percent; and Mobil Exploration and Production U.S., Inc. with 0.56 percent.
 One of the nation's largest independent producers, Houston-based Union Texas Petroleum Holdings, Inc. (NYSE: UTH) explores for and produces oil and gas overseas primarily in the U.K. North Sea, Indonesia and other strategic international areas. The company also has petrochemicals interests in the United States.
 -0- 10/14/92
 /CONTACT: Carol L. Cox of Union Texas Petroleum, 713-968-3258/
 (UTH) CO: Union Texas Petroleum Holdings, Inc. ST: Texas, Alaska IN: OIL SU: DSC


LD -- NY084 -- 0066 10/14/92 16:36 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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