Remington focuses on cost-effective, deep-gas reserve growth

Remington Oil & Gas Corp., Dallas, is committed to cost-effective reserve growth through exploring Gulf of Mexico shallow waters and using an extensive 3D seismic database to generate drilling opportunities and reduce exploratory risk."Looking at the 5-year record, reserves have increased from 63 bcfe to 204 bcfe, or a 26% compound annual growth rate. Shareholders' equity has increased from $44 million to $194 million, or a compound annual growth rate of 34%," from 1997 through 2002, said James A. Watt, Remington president and CEO. Remington Oil & Gas Corp. Pres. and CEO James A. WattClick here to enlarge imageRemington concentrates on the GOM deep shelf with about half of its produc...

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