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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 31, 1996
ENSERCH Corporation
(Exact name of Registrant as specified in its charter)
Texas 1-3183 75-0399066
(State or other (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
ENSERCH Center, 300 S. St. Paul, Dallas, Texas 75201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including Area Code: 214-651-8700
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ITEM 5. Other Events
Set forth below in its entirety is a News Release issued by
Enserch Exploration, Inc. on July 31, 1996:
ENSERCH EXPLORATION ANNOUNCES
DEEP-WATER PROJECTS' DEVELOPMENTS
DALLAS, TEXAS (July 31, 1996)--Enserch Exploration,
Inc. (NYSE-EEX) has suspended the drilling of the A-1
well at its Cooper project in the Garden Banks area of
the Gulf of Mexico after encountering mechanical
difficulties. The Company drilled over 600 feet
(measured depth) of hydrocarbons at the 7,200 foot and
7,600 foot levels, but drilling problems prevented the
well from being completed. Numerous attempts to remedy
the problems were unsuccessful.
"The partners will evaluate the situation and
alternate drilling strategies," said Gary J. Junco,
president and chief operating officer of Enserch
Exploration. "The extensive proven hydrocarbon column at
this location will be developed," he added.
An exploratory test well is underway on Garden Banks
Block 387. The well spudded in late June and will test
a lower Pleistocene objective with a total depth planned
of 18,500 feet (measured depth). The well is drilling
ahead below 9,600 feet. Enserch Exploration expects to
have a 100% interest in this well.
At the Allegheny project in the Green Canyon 254
area, EEX and its partners Mobil Exploration & Producing
U.S. Inc. and Reading & Bates Development Co., have
identified alternate development scenarios that have the
potential to significantly reduce the total project cost.
While the additional engineering study and design will
delay the project from its previously planned early 1999
start up, the design changes should substantially improve
the project economics. The Company will announce a
revised schedule for development when the plan is
completed.
Enserch Exploration, Inc. is a natural gas and oil
exploration and production company with activities
focused in Texas and the Gulf of Mexico.
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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.
ENSERCH Corporation
Date: August 6, 1996 By: /s/ Jerry W. Pinkerton
Jerry W. Pinkerton
Vice President and Controller,
Chief Accounting Officer
