CMS Energy Corporation Announces Successful Completion of Campo Rosario Well #18

CMS Energy Corporation's oil and gas exploration and production unit, CMS Oil and Gas Company, has announced the successful completion of the Campo Rosario well #18 in the Colon Block of the Maracaibo basin in western Venezuela. The well, completed at a depth of 7,778 feet in the Mirador formation, has an initial production rate of 3,966 barrels of oil per day. The successful well is part of a joint venture with Tecpetrol de Venezuela, S.A. and Coparex Latina de Petroleos S.A. to develop the Colon Block, which produces approximately 12,800 barrels of oil per day.

Key Takeaways:

• CMS Oil and Gas Company has successfully completed the Campo Rosario well #18 in the Colon Block of the Maracaibo basin in western Venezuela.
• The well was completed at a depth of 7,778 feet in the Mirador formation with an initial production rate of 3,966 barrels of oil per day.
• The Colon Block is a joint venture between CMS Oil and Gas Company, Tecpetrol de Venezuela, S.A. and Coparex Latina de Petroleos S.A.
• The Colon Block produces approximately 12,800 barrels of oil per day.
• CMS Oil and Gas Company is among America's 30 largest independent oil and gas companies in production and reserves.
• The company has proven reserves of 183 million net equivalent barrels as of year-end 1998.
• CMS Energy Corporation has annual sales of about $6 billion and assets of about $14 billion throughout the U.S. and in 22 countries.
• The company's principal subsidiary is Consumers Energy, Michigan's largest utility and America's fourth largest combination gas and electric utility.

Statistics:

• 3,966: Initial production rate of oil per day from the Campo Rosario well #18.
• 7,778: Depth in feet of the Campo Rosario well #18 in the Mirador formation.
• 12,800: Total production rate of oil per day from the Colon Block.
• 183 million: Net equivalent barrels of proven reserves as of year-end 1998.
• $6 billion: Annual sales of CMS Energy Corporation.
• $14 billion: Assets of CMS Energy Corporation throughout the U.S. and in 22 countries.

Sources:

• PR Newswire, "CMS Energy Corporation's (NY: CMS) Oil and Gas Unit Reports Success in Venezuela" (May 10, 1999)
• CMS Energy Corporation's website, http://www.cmsenergy.com/