Louis Dreyfus Natural Gas Provides First Quarter 2001 Drilling Update

Apr 17, 2001, 01:00 ET from Louis Dreyfus Natural Gas Corp.

    OKLAHOMA CITY, April 17 /PRNewswire/ -- Louis Dreyfus Natural Gas Corp.
 (NYSE:   LD) today provided an update on its drilling activities for the first
 quarter of 2001.  During the three months ended March 31, 2001, the Company
 completed 89 of the 92 wells drilled in its Gulf Coast, Permian and
 Mid-Continent regions for an overall success rate of 97 percent.
     In its Gulf Coast Region, the Company completed 8 of the 9 wells drilled
 along the South Texas Wilcox Trend.  In Zapata County, Texas, the Cavazos #2
 well, located in the En Seguido prospect, was completed at an initial rate of
 15 MMcfd.  The Company owns a 38 percent working interest in this well.  The
 Company owns a 50 percent working interest in the Leon Mitchell #1, operated
 by Smith Petroleum, located in Liberty County, Texas which was completed in
 the Cook Mountain zone for 6 MMcfed.  In Wharton County, Texas, the Rocking M
 #1 well was completed in the SW Bonus field for 13 MMcfd and 1,400 Bopd.
 Louis Dreyfus Natural Gas owns a 50 percent working interest in this well.
 The Company owns an interest in 3 additional wells drilling or completing in
 the field operated by El Paso Production Oil & Gas Company, a subsidiary of El
 Paso Corporation.  Within the Gulf Coast Region, the Company currently has
 7 wells drilling, with plans for a total of 47 wells to be drilled in 2001.
     In the Texas state waters, casing has been set and completion operations
 have commenced to test the prospect at Galveston 148.  The well will be tested
 through approximately 40 feet of perforations below a measured depth of
 14,000 feet.
     In the Permian Region, the State W-2, located in Eddy County, New Mexico
 was completed in the Morrow formation at a rate of 4.5 MMcfed.  The Company
 owns a 34 percent working interest in this well.  In the Sonora field,
 59 wells were drilled and successfully completed during the first quarter.
 The Company expects to drill 432 wells in this region in 2001.
     In the Mid-Continent Region, the Company drilled 15 wells and completed
 13 as producers.  The Gypsum 3-27 well, located in the Watonga-Chickasha Trend
 in Oklahoma was completed in the Lower Morrow formation at an initial rate of
 14 MMcfed.  Louis Dreyfus Natural Gas owns a 50 percent working interest in
 this well.  The Company expects to drill 114 wells in the Mid-Continent in
 2001.
     Mark Monroe, President and CEO, commented, "For the first quarter, daily
 gas equivalent production is expected to be up about ten percent over the
 prior year's first three months.  Our drilling program began the year with
 ten operated rigs working, a lower level of activity than initially planned.
 Over the course of the first quarter, we steadily increased our operated rig
 count and now have 21 drilling rigs working and 9 additional outside operated
 rigs.  We expect to maintain this current level of activity into the fourth
 quarter.  Cash flows in excess of capital expenditures were applied to reduce
 long-term debt by $111 million during the first quarter."
     This press release includes certain statements that may be deemed to be
 "forward-looking statements" within the meaning of Section 27A of the
 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
 Act of 1934, as amended.  All statements made in this press release other than
 purely historical information are forward-looking statements.  These
 statements reflect our current expectations and are based on our historical
 operating trends, proved reserve and fixed-price contract positions and other
 currently available information.  Forward-looking statements include
 statements about our future drilling plans and objectives and related
 exploration and development budgets and number and location of planned wells
 and statements regarding the quality of our properties and potential reserve
 and production levels.  These statements may be preceded by or followed by or
 otherwise include the words "believes", "expects", "anticipates", "intends",
 "plans", "estimates", "projects", or similar expressions or statements that
 certain events "will" or "may" occur.  These statements assume that no
 significant changes will occur in the operating environment for our oil and
 gas properties and that there will be no material acquisitions or divestitures
 except as otherwise described.  The forward-looking statements are subject to
 all the risks and uncertainties incident to the acquisition, exploration,
 development and marketing of oil and natural gas reserves, including the risks
 described in this release and in our Annual Report filed on Form 10-K for the
 year ended December 31, 2000.  These risks include, but are not limited to,
 commodity price, counterparty, environmental, drilling, reserves, operations
 and production rates.  We may also make material acquisitions or divestitures,
 modify our fixed-price contract positions or enter into financing
 transactions.  None of these events can be predicted with certainty and are
 not taken into consideration in the forward-looking statements.  Statements
 concerning fixed-price contract, interest rate swap and other financial
 instrument fair values and their estimated contribution to our future results
 of operations are based upon market information as of a specific date.  This
 market information is often a function of significant judgment and estimation.
 Further, market prices for oil and gas and market interest rates are subject
 to significant volatility.  For all of these reasons, our actual results may
 vary materially from the forward-looking statements and there is no assurance
 that the assumptions we have used are necessarily the most likely.  We will
 not update any forward-looking statements to reflect events or circumstances
 occurring after the date the statement is made.  Investors are cautioned that
 any such statements are not guarantees of future performance and that actual
 results or developments may differ materially from those projected in the
 forward-looking statements.
     Louis Dreyfus Natural Gas is one of the largest independent natural gas
 companies engaged in the acquisition, development, exploration, production and
 marketing of natural gas and crude oil in the United States.  Internet
 address: http://www.ldng.com
 
 

SOURCE Louis Dreyfus Natural Gas Corp.
    OKLAHOMA CITY, April 17 /PRNewswire/ -- Louis Dreyfus Natural Gas Corp.
 (NYSE:   LD) today provided an update on its drilling activities for the first
 quarter of 2001.  During the three months ended March 31, 2001, the Company
 completed 89 of the 92 wells drilled in its Gulf Coast, Permian and
 Mid-Continent regions for an overall success rate of 97 percent.
     In its Gulf Coast Region, the Company completed 8 of the 9 wells drilled
 along the South Texas Wilcox Trend.  In Zapata County, Texas, the Cavazos #2
 well, located in the En Seguido prospect, was completed at an initial rate of
 15 MMcfd.  The Company owns a 38 percent working interest in this well.  The
 Company owns a 50 percent working interest in the Leon Mitchell #1, operated
 by Smith Petroleum, located in Liberty County, Texas which was completed in
 the Cook Mountain zone for 6 MMcfed.  In Wharton County, Texas, the Rocking M
 #1 well was completed in the SW Bonus field for 13 MMcfd and 1,400 Bopd.
 Louis Dreyfus Natural Gas owns a 50 percent working interest in this well.
 The Company owns an interest in 3 additional wells drilling or completing in
 the field operated by El Paso Production Oil & Gas Company, a subsidiary of El
 Paso Corporation.  Within the Gulf Coast Region, the Company currently has
 7 wells drilling, with plans for a total of 47 wells to be drilled in 2001.
     In the Texas state waters, casing has been set and completion operations
 have commenced to test the prospect at Galveston 148.  The well will be tested
 through approximately 40 feet of perforations below a measured depth of
 14,000 feet.
     In the Permian Region, the State W-2, located in Eddy County, New Mexico
 was completed in the Morrow formation at a rate of 4.5 MMcfed.  The Company
 owns a 34 percent working interest in this well.  In the Sonora field,
 59 wells were drilled and successfully completed during the first quarter.
 The Company expects to drill 432 wells in this region in 2001.
     In the Mid-Continent Region, the Company drilled 15 wells and completed
 13 as producers.  The Gypsum 3-27 well, located in the Watonga-Chickasha Trend
 in Oklahoma was completed in the Lower Morrow formation at an initial rate of
 14 MMcfed.  Louis Dreyfus Natural Gas owns a 50 percent working interest in
 this well.  The Company expects to drill 114 wells in the Mid-Continent in
 2001.
     Mark Monroe, President and CEO, commented, "For the first quarter, daily
 gas equivalent production is expected to be up about ten percent over the
 prior year's first three months.  Our drilling program began the year with
 ten operated rigs working, a lower level of activity than initially planned.
 Over the course of the first quarter, we steadily increased our operated rig
 count and now have 21 drilling rigs working and 9 additional outside operated
 rigs.  We expect to maintain this current level of activity into the fourth
 quarter.  Cash flows in excess of capital expenditures were applied to reduce
 long-term debt by $111 million during the first quarter."
     This press release includes certain statements that may be deemed to be
 "forward-looking statements" within the meaning of Section 27A of the
 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
 Act of 1934, as amended.  All statements made in this press release other than
 purely historical information are forward-looking statements.  These
 statements reflect our current expectations and are based on our historical
 operating trends, proved reserve and fixed-price contract positions and other
 currently available information.  Forward-looking statements include
 statements about our future drilling plans and objectives and related
 exploration and development budgets and number and location of planned wells
 and statements regarding the quality of our properties and potential reserve
 and production levels.  These statements may be preceded by or followed by or
 otherwise include the words "believes", "expects", "anticipates", "intends",
 "plans", "estimates", "projects", or similar expressions or statements that
 certain events "will" or "may" occur.  These statements assume that no
 significant changes will occur in the operating environment for our oil and
 gas properties and that there will be no material acquisitions or divestitures
 except as otherwise described.  The forward-looking statements are subject to
 all the risks and uncertainties incident to the acquisition, exploration,
 development and marketing of oil and natural gas reserves, including the risks
 described in this release and in our Annual Report filed on Form 10-K for the
 year ended December 31, 2000.  These risks include, but are not limited to,
 commodity price, counterparty, environmental, drilling, reserves, operations
 and production rates.  We may also make material acquisitions or divestitures,
 modify our fixed-price contract positions or enter into financing
 transactions.  None of these events can be predicted with certainty and are
 not taken into consideration in the forward-looking statements.  Statements
 concerning fixed-price contract, interest rate swap and other financial
 instrument fair values and their estimated contribution to our future results
 of operations are based upon market information as of a specific date.  This
 market information is often a function of significant judgment and estimation.
 Further, market prices for oil and gas and market interest rates are subject
 to significant volatility.  For all of these reasons, our actual results may
 vary materially from the forward-looking statements and there is no assurance
 that the assumptions we have used are necessarily the most likely.  We will
 not update any forward-looking statements to reflect events or circumstances
 occurring after the date the statement is made.  Investors are cautioned that
 any such statements are not guarantees of future performance and that actual
 results or developments may differ materially from those projected in the
 forward-looking statements.
     Louis Dreyfus Natural Gas is one of the largest independent natural gas
 companies engaged in the acquisition, development, exploration, production and
 marketing of natural gas and crude oil in the United States.  Internet
 address: http://www.ldng.com
 
 SOURCE  Louis Dreyfus Natural Gas Corp.