Kerr-McGee Corp. remains on track to hit its 2004 oil and natural gas production target of 310,000 boe/d, the company said Wednesday.

In an interim quarterly conference call, Gregory F. Pilcher, general counsel, said that for 2004, the company expects to average 922-933 MMcf/d in natural gas. Crude oil is expected to average 154,000-157,000 bbl/d.

Kerr-McGee’s 4Q output should average 1,130-1,175 MMcf/d in natural gas, with more than 90% of the total coming from the United States. Crude oil output is expected to range between 169,000 and 180,000 bbl/d in 4Q. Fourth quarter average production will range between 357,000 and 375,800 boe/d.

“More than 90% of Kerr-McGee’s total gas output is coming from the United States,” Pilcher said. “The gas marketing revenue is expected to increase in this quarter because of our Rocky Mountain operations.” He noted there would be no significant operating impact and that operating cost projections remain unchanged for the quarter at $4.15/Mcf.

Kerr-McGee would have even higher natural gas output, said Pilcher, but about 9 MMcf/d of gas remains shut in because of last summer’s Hurricane Ivan.

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