HOUSTON, Nov. 2 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) today
provided an update on results of its 1999 drilling program in the Arkoma and
Anadarko Basins, where the Company has been successful in 13 of the 18 wells
drilled year to date, a 72% success ratio. "The Mid-Continent area is a
continuing key component of our balanced drilling program," stated James W.
Christmas, KCS President and Chief Executive Officer. "This area provides a
solid base of low-risk drilling opportunities to replenish reserves. We
expect to spud three additional wells in this area before year-end and
anticipate an equally aggressive program in the year 2000."
The Fort Chaffee 14-30 #1 well in the Ewing Field located in Sebastian
County, Ark., was the most recent well in the program. The well was drilled
to 8490 feet encountering three apparently productive zones. The well was
completed as a dual producer in the Hunton Penters Chert and Spiro formations
and is awaiting pipeline connection, which should be completed within a week.
The Penters Chert was tested for 24 hours at a rate of 3,975 thousand cubic
feet of gas per day (Mcfgpd) with a flowing tubing pressure of 620 psi. In a
separate 24-hour test, the Spiro Sand tested at a rate of 2,798 Mcfgpd with a
flowing tubing pressure of 432 psi. KCS and operator Southwestern Energy
Company (NYSE: SWN) each own a 50% working interest in this well and are
evaluating offset drilling potential.
In the South East Wilburton Field in Latimer County, Okla., KCS recently
completed its McCabe #14-1 well, which was placed on production flowing from
the Bullard Sand formation at a rate of 4,027 Mcfgpd with a flowing tubing
pressure of 3,200 psi. KCS is the operator of this well and owns a 13%
working interest. The McCabe well was a follow-up well to four previous South
East Wilburton Field producers, where KCS owns from 7% to 58% working
interests. One additional well is anticipated prior to year-end.
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 1-800-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, SVP and Chief Operating
Officer of KCS Energy, Inc., 713-877-8006; or General Info,
Marianne Stewart, 212-661-8030, Analysts, Beth Lewis,
617-369-9240, or Media, Claudine Cornelis, 212-661-8030, all of
The Financial Relations Board
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