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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): October 11, 1999
PENNACO ENERGY, INC.
(Exact name of registrant as specified in its charter)
Delaware 00-24881 88-0384598
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
1050 17th Street
Suite No. 700
Denver, Colorado 80265
(Address of principal executive offices) (Zip Code)
(303) 629-6700
(Registrant's telephone number, including area code)
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Item 5. Other Events
On October 11, 1999, Pennaco Energy, Inc. issued a press release announcing
that its net working interest gas production has increased to 21 MMcf per day
from approximately 100 producing wells located in the South Gillette Area in
Pennaco's Powder River Basin coal bed methane project in Wyoming. Pennaco's
production has increased from the previously reported 11 MMcf per day due to the
opening of KN Energy's Coal Seam Booster Compressor Station in the South
Gillette Area. This press release is filed as Exhibit 99.1 to this Current
Report on Form 8-K, and the contents of such Exhibits are incorporated herein by
reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release, dated October 11, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PENNACO ENERGY, INC.
By: /s/ Glen C. Warren, Jr.
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Glen C. Warren, Jr.
Chief Financial Officer and Executive Vice President
Date: October 11, 1999
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Exhibit 99.1
Pennaco Increases Gas Production
DENVER, COLORADO -- Monday October 11, 1999 -- Pennaco Energy, Inc. (Amex:
PN) today announced that its net working interest gas production has increased
to 21 MMcf per day from approximately 100 producing wells located in the South
Gillette Area in the Company's Powder River Basin Coal Bed Methane (CBM) Project
in Wyoming. The Company's production has increased from the previously reported
11 MMcf per day due to the opening of KN Energy's Coal Seam Booster Compressor
Station in the South Gillette Area. The Coal Seam Booster moves gas to the
Thunder Creek Gas Pipeline, which also recently opened. The Company has over 200
additional completed wells in the South Gillette Area which are awaiting the
opening of Bear Paw Energy's Antelope Valley Compressor Station, expected
November 1, 1999. The Antelope Valley Compressor Station, which connects to the
Fort Union Gas Gathering Pipeline, has up to 80 MMcf per day of takeaway
capacity. On September 1, 1999, the Fort Union Gas Gathering Pipeline, a 450
MMcf per day pipeline project, became operational, as did the Thunder Creek Gas
Services Pipeline, also a 450 MMcf per day pipeline project.
Pennaco Energy, Inc. is an exploration and production company headquartered
in Denver, Colorado. The Company is completely focused on the development and
production of natural gas from coal bed methane properties in the Powder River
Basin of northeastern Wyoming and southeastern Montana. Pennaco is one of the
largest leaseholders in the play with approximately 335,000 net acres. This
lease position includes approximately 281,000 net acres held by Pennaco in its
previously announced joint venture with CMS Oil and Gas Company, a wholly owned
subsidiary of CMS Energy Corporation (NYSE: CMS).
This release contains forward-looking statements regarding future plans and
expected performance based on assumptions believed to be reasonable. A number of
risks and uncertainties could cause actual results to differ materially from
these statements, including without limitation, fluctuations in the price of
natural gas, the success rate of drilling efforts, the timeliness of
development, pipeline and gathering construction activities, as well as other
risk factors described from time to time in the Company's disclosure and
offering documents filed with the SEC.
