Ocean Energy Inc., Houston, plans to acquire EnSight Resources LLC 's oil and gas assets primarily in east Texas and north Louisiana for $121 million. Ocean estimates total proved reserves of approximately 104 billion cu. ft. of gas equivalent, 88% gas, with current production of approximately 23 million cu. ft. of gas equivalent per day. Energen Resources Corp., Birmingham, Ala., has acquired an additional 46% working interest in the West Lovington Field in the Permian Basin for $31.75 million, from a private estate. The acquisition brings Energen Resources' total working-interest position in the field to 87%. The company also will be operator. Energen estimates the acquisition will result in approximately 1.3 billion cu. ft. equivalent of additional production in fiscal 2001, then increase to 3.6 billion cu. ft. equivalent in fiscal 2003 as gas in the gas cap is produced. Black Hills Corp. business unit Black Hills Exploration and Production , Rapid City, S.D., plans to purchase operating and nonoperating interests in 74 wells from Stewart Petroleum Corp., Denver, for $10 million. Black Hills estimates the acquired interests represent proved reserves of 10 billion cu. ft. of gas equivalent, 86% gas. The acquisition is expected to increase Black Hill's proved reserves by approximately 22% and current production rates by 10%.
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