KCS Energy Inc., Houston, (NYSE: KCS) has acquired an onshore Gulf Coast property from an undisclosed seller for $24.8 million. The property involves 2,325 acres in Wharton County, Texas. Proved reserves are estimated to be 12.4 billion cubic feet equivalent, of which 82% are proved developed. "Although the proved reserves make this an attractive acquisition, the compelling reason for the purchase comes from expected future enhancement of production and reserves through workovers, infill drilling and deeper exploration potential," says William N. Hahne, president and chief operating officer.
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