Consolidated Natural Gas Company Acquires Interest in West Broussard Field

Consolidated Natural Gas Company announced that its exploration and production subsidiary, CNG Producing Company, has acquired an interest in the West Broussard field located in Lafayette Parish, Louisiana. The field, which has been producing since August 1998, is a significant addition to the company's Louisiana operations, which include exploration and production activities throughout south Louisiana. CNG's share of current production from the field is approximately 17 million cubic feet of natural gas and 400 barrels of condensate a day.

Key Takeaways:

CNG Producing Company, a subsidiary of Consolidated Natural Gas Company, has acquired an average 42 percent working interest in two producing units and additional leasehold in the West Broussard field.
The field has been producing since August 1998, with CNG's share of current production totaling approximately 17 million cubic feet of natural gas and 400 barrels of condensate a day.
The West Broussard acquisition is a significant addition to CNG's Louisiana operations, which include exploration and production activities throughout south Louisiana.
CNG Producing Company 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.
CNG's exploration and production activities are not limited to Louisiana, with operations also present in the United States and Canada.

Statistics:

42% working interest in two producing units and additional leasehold acquired by CNG Producing Company in the West Broussard field.
17 million cubic feet of natural gas produced daily by CNG from the West Broussard field.
400 barrels of condensate produced daily by CNG from the West Broussard field.
Since August 1998, the West Broussard field has been producing natural gas.

Sources:

Consolidated Natural Gas Company press release, Dec. 10 (exact date not specified).