HOUSTON, June 11 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) today
announced it has completed the previously announced sale of non-core
properties.
Commenting on the sale, KCS President & Chief Executive Officer, James W.
Christmas said, "This sale of properties serves the dual purpose of raising
cash to retire debt and optimizing the efficiency of our operations." The
package of properties sold for $26.0 million and included smaller, scattered
properties in several states.
KCS is an independent energy company engaged in the acquisition,
exploration, development and production of natural gas and crude oil with
operations in the Mid-Continent and Gulf Coast regions. For more information
on KCS Energy, Inc., please visit the Company's web site at
http://www.kcsenergy.com .
This press release contains forward-looking statements that involve a
number of risks and uncertainties. Among the important factors that could
cause actual results to differ materially from those indicated by such
forward-looking statements are delays and difficulties in developing currently
owned properties, the failure of exploratory drilling to result in commercial
wells, delays due to the limited availability of drilling equipment and
personnel, fluctuations in oil and gas prices, general economic conditions and
the risk factors detailed from time to time in the Company's periodic reports
and registration statements filed with the Securities and Exchange Commission.
SOURCE KCS Energy, Inc.
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Related links:
http://www.kcsenergy.com
CONTACT:
Harry Lee Stout, Senior Vice President of KCS
Energy, Inc., +1-713-877-8006, or General, Marilyn Meek,
+1-212-445-8451, Peter Selzberg, +1-212-445-8457, Media, Judith
Sylk-Siegel, +1-212-445-8431, all of FRB Weber Shandwick
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