press release

Chevron Press Release - Destin Dome 57 Well Test Results Announced

NEW ORLEANS, April 22, 1996 -- Chevron and co-owners Conoco Inc., a DuPont subsidiary, and Murphy Exploration & Production Company, a Murphy Oil Corporation subsidiary, today announced test results from the Destin Dome Block 57 #1 well.

A flow rate of 41 million standard cubic feet per day with no liquid hydrocarbons was achieved from the Norphlet formation below 22,000 feet. Each company holds a one-third working interest in the well, which is located approximately 26 miles offshore Pensacola, Fla.

"While test results need to be fully evaluated before finalizing development plans, this test confirms the presence of significant quantities of clean burning natural gas and reinforces our optimism about the area," said Ray Galvin, Chevron U.S.A. Production Co. president.

"This well will help replace declining national reserves and potentially provide additional clean burning energy for Florida's growing demand for natural gas," Galvin added.

Destin Dome is part of the Norphlet Trend, a major producing natural gas trend extending westward in the Gulf of Mexico from the Destin Dome blocks to offshore blocks south of Pascagoula, Miss.

Chevron is one of the Gulf of Mexico's largest natural gas producers. Based in Houston, it is the U.S. exploration and production subsidiary of the San Francisco-based Chevron Corporation.

Updated: April 1996