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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)
January 8, 1997 and January 13, 1997
ENSERCH Corporation
(Exact name of Registrant as specified in its charter)
Texas 1-3183 75-0399066
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
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 their entirety are News Releases issued by
Enserch Exploration, Inc., a subsidiary of ENSERCH Corporation, on
January 8, 1997, and January 13, 1997.
ENSERCH EXPLORATION UPDATES
DEVELOPMENTS AT COOPER PROJECT
DALLAS, TEXAS (January 8, 1997)--Enserch
Exploration, Inc. (NYSE--EEX) has completed the SB-3 well
at the Company's deep-water project in the Garden Banks
area of the Gulf of Mexico. The well on Block 387 was
drilled to a total depth of 19,000 feet and was completed
in a 50-foot sand interval at a depth of 18,170 feet.
Based on initial flow rates, we expect the well to have
initial production rates in the range of 20 to 25 million
cubic feet of gas per day with associated condensate.
Production is expected to commence later this month as
subsea tie backs are in place to transport hydrocarbons
to the production facility located three miles to the
east on Block 388.
"This is the first well in the Cooper area that has
tested the Auger sands. The producing interval is part
of the upper Auger sands series. While production rates
and flowing pressures from this well are substantial, we
would caution that the sustainability of production at
such high rates is better determined after a period of
production history," said Frederick S. Addy, chairman,
president and chief executive officer of Enserch
Exploration.
Separately, the Company reports that its A-2 well on
Block 388 reached total depth of 9,835 feet encountering
three pay zones in the 7,200-foot, 7,600-foot and 9,800-foot
sands. The well will be completed initially in the
9,800-foot sand, which has a total of 116 feet of oil
pay. Initial production from this well is expected in
February.
"We continue to pursue the multi-year development of
the Cooper project with these new wells, and additional
wells are planned for 1997," said Mr. Addy.
Enserch Exploration is the operator of the Cooper
project and owns a 60% working interest. Mobil
Exploration & Producing U.S. Inc. owns a 40% interest.
Enserch Exploration is a natural gas and oil exploration
and production company with activities focused in Texas
and the Gulf of Mexico.
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THOMAS M. HAMILTON JOINS EEX AS
CHAIRMAN, PRESIDENT AND CEO
DALLAS, TEXAS (January 13, 1997)--Enserch
Exploration, Inc. (NYSE--EEX) today named Thomas M.
Hamilton chairman, president and chief executive officer
of the company. Hamilton, 53, comes to EEX from Pennzoil
Company where he was executive vice president and
president of Pennzoil Exploration & Production Company.
He will succeed the interim chairman, president and chief
executive officer, Frederick S. Addy, 65, who will
continue to serve on the board of directors.
"Hamilton has distinguished himself in our industry
as a first-rate corporate executive," said Mr. Addy.
"His training and significant experience as an
explorationist will provide insight and direction for
EEX's future exploration efforts. His managerial and
leadership experiences are additional strengths that will
propel EEX to future success as one of the country's
largest independent exploration and production
companies," he added.
Mr. Hamilton served Pennzoil Company for five years.
He was also a director of British Petroleum Exploration,
where he served as chief executive of the Frontier and
International Operating Company of BP Exploration prior
to his tenure at Pennzoil. Hamilton holds three degrees
in geology including a Ph.D. from the University of North
Dakota.
Additionally, David R. Henderson, 45, has been
elected to the position of executive vice president of
worldwide exploration for EEX. Henderson previously held
the position of senior vice president of worldwide
exploration at Pennzoil Exploration and Production
Company.
Barry K. Irani, 46, senior vice president, offshore
and international at EEX, has been elected to the new
position of executive vice president of production and
engineering. The elections of Messrs. Henderson and
Irani are also effective immediately.
"EEX is a company with a long and distinguished
record for innovation in the industry, and is entering a
new era as a free-standing organization," said Hamilton.
"I am delighted and intrigued by the prospect of leading
a great company poised for growth," he added.
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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: January 14,1997 By: /s/ Jerry W. Pinkerton
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Jerry W. Pinkerton
Vice President and Controller,
Chief Accounting Officer
