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Gas News Release
December 10, 1999
CNG Producing Company Acquires Interest in South Louisiana
Field
PITTSBURGH -- Consolidated Natural Gas Company 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 (NYSE:CNG),
one of the nation's largest producers, transporters, distributors, and retail
marketers of natural gas.
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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.
For further information contact:
Dan Donovan
412-690-1370
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