NEW ORLEANS, Dec. 21 /PRNewswire/ -- Consolidated Natural Gas Company's
(NYSE: CNG) exploration and production subsidiary, CNG Producing Company,
announced today initial production from a new complex the company will operate
in the Main Pass area of the Gulf of Mexico. Natural gas began flowing at the
"Nemo" platform yesterday, December 20.
Nemo is one of three platforms in the complex, which includes eight wells
and facilities designed to handle initial deliverability of 240 million cubic
feet of natural gas and 20,000 barrels of condensate a day. CNG Producing
holds a 100 percent working interest in Nemo, a two-deck, four-pile platform
at Main Pass 279.
"Nautilus," the predominant platform in the complex, is in the final stage
of installation and is expected to be on production around the end of January.
Nautilus is a three-deck, four-pile drilling and production platform at Main
Pass 281. CNG holds a 68.5 percent working interest in Nautilus.
The third platform, "Atlantis," is a single-deck tripod platform at Main
Pass 280 that is expected to be on production in mid-January. CNG holds a
75 percent working interest in Atlantis.
New Orleans-based CNG Producing Company is one of the country's largest
independent producers of natural gas and oil, and the third largest producer
in the deep waters of the Gulf of Mexico. It is responsible for all
exploration and development activities 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 1998 and 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 company extension, 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. This line is toll-free.
SOURCE Consolidated Natural Gas Company
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Related links:
http://www.cng.com
CONTACT:
Dan Donovan of Consolidated Natural Gas
Company, 412-690-1370
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