Ziff Studies Examine South Texas, Midcontinent

Analyzing and following industry “best practices” can helponshore gas producers reduce operating costs and achieve greateroperating efficiency. Two studies recently completed by Ziff EnergyGroup suggest producers in South Texas and the Midcontinent can dowell by turning to their peers for advice.

October 29, 1999

Seagull Buying TX, OK Assets

Seagull Energy agreed to buy an interest in a package of onshoreoil and gas properties in East Texas and western Oklahoma for $102million. The Houston-based company is buying the stock of privatelyheld BRG Petroleum of Tulsa, OK, and the assets of BRG’s limitedpartnerships and programs. The deal should be completed in about 60days. Proved oil and gas reserves total about 103 Bcfe. Dailyproduction from the properties net to the combined BRG interestslast year averaged about 18 MMcf/d of gas and 400 barrels of oiland natural gas liquids. Seagull has identified more than 160drilling locations and 60 recompletion opportunities, primarily inEast Texas. Seagull said it expects significant increases in bothproved reserves and production over the next few years.

March 31, 1998
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