25.05.12

HOUSTON, TX -- (Marketwire) 12/19/11 -- El Paso Corporation (NYSE: EP) announced today the following forecasts for its search & production business unit: -- Proved oil and natural gas reserves of almost 4.0 trillion cubic feet equivalent (Tcfe) at December 31, 2011 -- an enhance of approximately 18 percent from the 3.4 Tcfe reported as of December 31, 2010 -- Year-end risked later drilling inventory of approximately 9.7 Tcfe, up from 8.0 Tcfe at December 31, 2010, with the the greater part of the increase coming from oil shale programs in the Eagle Ford and Wolfcamp. The 9.7 Tcfe risked future drilling inventory judgement includes approximately 2.0 Tcfe of proved undeveloped reserves and 7.7 Tcfe of risked unproved resources. Take 60 percent the 9.7 Tcfe of risked future drilling inventory is from oil and liquids, regular on a 6:1 equivalent basis -- Full-year 2011 film of 830 to 840 million cubic feet equivalent per day (MMcfe/d), consistent with existing counsel. At the midpoint, this represents an approximate 7 percent increase from 782 MMcfe/d in 2010. The expand is after asset sales that were expected to contribute an additional 15 MMcfe/d to full-year 2011 volumes -- Year-end 2011 retreat rate of more than 900 MMcfe/d, which includes 23,000 to 24,000 barrels per day of oil in -- 2011 capital expected to come in as planned at approximately $1.6 billionIn particularNote: The production, reserves and resource estimates above include El Paso's 48.8 percent interest in Four Shooting star Oil & Gas Company (Four Star).

Source: KRGV

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