Dominion Exploration & Production Announces
Discovery at Thunder Hawk
Houston - Dominion Exploration & Production, a wholly
owned subsidiary of Dominion (NYSE:D), and its partners today announced a discovery
on their Thunder Hawk prospect in the Deepwater Gulf of Mexico.
The Mississippi Canyon Block 734 #1 ST1, an exploratory well
operated by Dominion, encountered approximately 300 feet of net oil pay in two
high-quality reservoir zones. These zones, the main pre-drill targets, were
found water-bearing in the original hole (Mississippi Canyon 734 #1).
"We are very encouraged by the results of the sidetrack
well and are assessing delineation drilling options," Duane Radtke, president
and chief executive officer of Dominion Exploration & Production, said.
"Our current estimate of reserves based on the two penetrations is from
50 to 150 million barrels of oil equivalent."
The sidetrack well, operated by Dominion, was drilled 150
miles southeast of New Orleans in a water depth of 5,724 feet. The well reached
a total measured depth of 24,831 feet and a true vertical depth of 23,101 feet
subsea and will be temporarily abandoned.
"Thunder Hawk is Dominion's third discovery in the deepwater
this year following successes on its Goldfinger and San Jacinto prospects,"
added Radtke.
Dominion is one of the nation's largest producers of energy,
with a portfolio consisting of more than 24,000 megawatts of generation, 6.4
trillion cubic feet equivalent of natural gas reserves, 7,900 miles of natural
gas transmission pipeline and more than 960 billion cubic feet of storage capacity.
Dominion E&P is one of the largest independent natural gas and oil exploration
and production companies in North America with daily production of nearly 1.3
billion cubic feet of natural gas equivalent.
Dominion E&P operates in several major producing basins
in the lower 48 states, plus the outer continental shelf, deepwater areas of
the Gulf of Mexico, and western Canada. Dominion also serves five million retail
energy customers in nine states. Additional information about Dominion is available
on the Internet at www.dom.com.
