Spinnaker lowers production target - April 04, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2004

Vol. 9, No. 14

Week of April 04, 2004

Spinnaker lowers production target

Houston-based independent Spinnaker Exploration said March 29 that it expects to produce 10.3 billion cubic feet of gas equivalent total in the 2004 first quarter, down from previous guidance of 11 billion cubic feet of equivalent.

The company attributed the reduction to a pipeline in the Brazos area of Texas that took substantially longer than anticipated and weather in the Gulf of Mexico that caused delays in start-up of several key projects.

However, the reduction in the anticipated production volumes does not relate to any reservoir performance issues, Spinnaker said.

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