PITTSBURGH, Dec. 10 /PRNewswire/ -- Consolidated Natural Gas Company
(NYSE: CNG) announced today that its exploration and production subsidiary,
CNG Producing Company, has acquired an interest in the West Broussard field
located in Lafayette Parish, Louisiana.
The interest acquired by CNG Producing includes an average 42 percent
working interest in two producing units and additional leasehold adjacent to
the units. The field has been producing since August 1998. CNG's share of
current production is approximately 17 million cubic feet of natural gas and
400 barrels of condensate a day. The West Broussard acquisition is a
significant addition to the company's Louisiana operations, which include
exploration and production activities throughout south Louisiana.
CNG Producing Company, headquartered in New Orleans, explores for and
produces natural gas and oil throughout the United States and Canada. It is a
subsidiary of Pittsburgh-based Consolidated Natural Gas Company, one of the
nation's largest producers, transporters, distributors, and retail marketers
of natural gas.
This press release contains forward-looking statements. The company
wishes to caution readers that the assumptions which form the basis for
forward-looking statements with respect to or that may impact earnings for
fiscal 1999, and thereafter, include many factors that are beyond the
company's ability to control or estimate precisely, such as estimates of
future market conditions and the behavior of other market participants. Other
factors include, but are not limited to, weather conditions, economic
conditions in the company's service territory, fluctuations in energy-related
commodity prices, conversion activity, other marketing efforts and other
uncertainties.
CNG's recent news releases are available 24 hours a day on the Internet,
by fax machine, or by voice recording. On the Internet, use CNG's Web site:
http://www.cng.com. For faxing, call 1-800-758-5804 on a touch-tone phone and enter
CNG's extension number, which is 203456. From a menu, you will then be able
to select releases that will be faxed to you immediately without charge. For
voice recordings, call 1-888-CNG-NEWS (1-888-264-6397). This line is
toll-free.
SOURCE Consolidated Natural Gas Company
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Related links:
http://www.cng.com
CONTACT:
Chet Wade of Consolidated Natural Gas,
412-690-1361
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