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EOG Resources, Inc. Signs 15-Year Contract with National Gas Company of Trinidad and Tobago

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FOR IMMEDIATE RELEASE: Thursday, February 03, 2000

HOUSTON - EOG Resources, Inc. today announced it has signed a 15-year natural gas supply contract for approximately 60 million cubic feet per day (MMcf/d) with the National Gas Company of Trinidad and Tobago Limited (NGC). The announcement is concurrent with the attached statement issued by the Caribbean Nitrogen Company Limited (CNC) and the government of the Republic of Trinidad and Tobago regarding construction of an 1,850 metric ton per day anhydrous ammonia plant.

"We are excited about increasing our production in Trinidad and Tobago," said Mark G. Papa, EOG Resources, Inc. Chairman and CEO. "In 1998, we announced the Osprey Discovery from our U(a) Block (100% working interest) and we will supply the CNC ammonia plant from this field."

EOG Resources Trinidad has an existing natural gas contract with NGC for natural gas production from the SECC Block that began in 1994.

EOG Resources, Inc. (formerly Enron Oil & Gas Company) is one of the largest independent (non-integrated) oil and gas companies in the United States and is the operator of substantial proved reserves in the U.S., Canada and offshore Trinidad. EOG Resources is listed on the New York Stock Exchange and is traded under the ticker symbol, "EOG."

This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although EOG believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements herein include, but are not limited to, the timing and extent of changes in reserve quantities and commodity prices for crude oil, natural gas and related products and interest rates, the extent of EOG’s success in discovering, developing, producing and marketing reserves and in acquiring oil and gas properties, uncertainties and changes associated with international projects and operations including reserve estimates, markets, contract terms, construction, financing availability, operating costs, and political developments around the world, and conditions of the capital and equity markets during the periods covered by the forward looking statements.

PRESS RELEASE

CARIBBEAN NITROGEN COMPANY LIMITED (CNC) IS PLEASED TO ANNOUNCE THAT IT HAS REACHED AGREEMENT WITH THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO FOR CONSTRUCTION OF AN 1,850 METRIC TON PER DAY ANHYDROUS AMMONIA PLANT AT POINT LISAS.

FINANCIAL CLOSE IS EXPECTED IN MARCH WITH COMPLETION OF CONSTRUCTION TARGETED FOR EARLY 2002.

THE SHAREHOLDERS OF CNC ARE FERROSTAAL AG, EOG RESOURCES TRINIDAD LIMITED, DUKE ENERGY MERCHANTS LLC, KBR DEVELOPMENT CORPORATION AND CLICO ENERGY COMPANY LIMITED.

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