HOUSTON, Oct. 26 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) today
announced recent drilling results from its Gulf Coast Program.
The Kathleen Jackson #1 was drilled to a total depth of 11,600 feet in the
Austin Field, Goliad County, Texas. This 100% KCS well found 52 feet of net
Wilcox pay in the second and third Nita sands and is structurally the highest
Nita sand penetration in the Austin Field. The well was perforated in the
third Nita sand and tested at a rate of 2,800 thousand cubic feet per day
(MCFPD) and 32 barrels condensate per day (BCPD) with 4090 psi flowing tubing
pressure (FTP). The well was subsequently perforated in the second Nita sand
and is currently producing naturally at a rate of 5,900 MCFPD and 29 BCPD with
3850 psi FTP. These two Nita sands will be downhole commingled later this
year and KCS anticipates additional drilling in the field in early 2001.
KCS has a 40% working interest in the Mayronne #2 that was directionally
drilled to a measured depth of 13,112 feet (12,390 feet TVD) in the South
Bayou DeFleur Field, Jefferson Parish, Louisiana. This well found pay in
three Miocene aged Cristellria (Hollywood) sands. A lower lobe of this
Hollywood sand was perforated on October 23rd and the zone tested at a rate of
2,849 MCFPD and 10 BCPD with 3068 psi FTP.
The Mustang Island 924 S #1 (100% KCS working interest) was drilled in the
North Padre Field, Kleberg County, Texas and began producing in late August.
This well penetrated two Frio sands. The lower sand was perforated and is
currently producing naturally at a rate of 3,100 MCFPD and 20 BCPD with
1675 psi FTP. The upper sand will be perforated and commingled at a later
date.
"The drilling success we've had on these higher interest wells will serve
to increase our fourth quarter production, year-end reserves and 2001
production and earnings," commented James W. Christmas, KCS President and
Chief Executive Officer. "We continue to focus our available capital on debt
reduction and drilling in our core areas."
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. The Company also
purchases reserves (priority rights to future delivery of oil and gas)
through its Volumetric Production Payment (VPP) program. For more information
on KCS Energy, Inc., please visit the Company's web site at
http://www.kcsenergy.com .
To receive KCS' latest news and other corporate developments via fax at no
cost, please call 800-PRO-INFO. Use company code KCS. See also
http://www.frbinc.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:
William N. Hahne, Sr. VP and Chief Operating
Officer of KCS Energy, 713-877-8006; or General, Marilyn Meek,
Media, David Closs, 212-661-8030, both of The Financial Relations
Board
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