Welcome to the U.S. oil and gas production and reserves table of the U.S. Energy Information Administration overview of aspects of the merger of Plains Exploration and Production and Nuevo Energy. The merger was announced February 12, 2004 and is valued at $495 million. For further information please call the National Energy Information Center at (202) 586-8800.

Plains Exploration and Production and Nuevo Energy U.S. Crude Oil and Natural Gas Reserves and Production, 2002

  Nuevo
Energy		 Plains
Exploration
and Production		 Combined U.S. Total Share of U.S. Total
Nuevo
Energy		 Plains
Exploration
and Production		 Combined
(million barrels) (percent)
U.S. oil and natural gas liquids production 8.8 15.5 24.3 2,759 0.3 0.6 0.9
U.S. oil and natural gas liquids reserves 206.2 246.4 452.6 30,671 0.7 0.8 1.5
  (billion cubic feet) (percent)
U.S. dry natural gas production 13.5 29.0 42.5 19,353 0.1 0.1 0.2
U.S. dry natural gas reserves 173.8 336.2 510.0 186,946 0.1 0.2 0.3

Note: Reserves are at year-end.   Shares are calculated from unrounded numbers.   The values for Plains Exploration and Production also include the values for 3TEC Energy, which was acquired by Plains Exploration and Production on June 4, 2003.

Sources: Company information: Nuevo Energy, 2002 Annual Report (pdf format, if you lack Adobe Acrobat Reader and are unable to read pdf format files, please follow the Adobe link below to download the free software); Plains Exploration and Production, 2002 Annual Report; and John S. Herold Inc., Reserves Disclosure Database; U.S. totals: Energy Information Administration, U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves 2002 Annual Report, Table 1.

 

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Last Updated on March 4, 2004
By Financial Analysis Team, Office of Energy Markets and End Use, Energy Information Administration
Email: neal.davis@eia.doe.gov

URL: http://www.eia.doe.gov/emeu/finance/mergers/np_p&res.html