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)
August 9, 1995
ENSERCH EXPLORATION, INC.
(Exact name of Registrant as specified in its charter)
Texas 1-11413 75-2556975
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
4849 Greenville Ave., Suite 1200, Dallas, Texas 75206-4186
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including Area Code: 214-369-7893
Item 5. Other Events
On August 9, 1995, the transaction by which a Mobil
Corporation (Mobil) affiliate exercised its option to acquire a 40%
working interest in the Garden Banks project of Enserch
Exploration, Inc. (EEX) was closed. As a result of this
transaction, EEX was relieved of approximately $140 million of its
$370 million capital and operating lease obligations on the
project, as well as a proportionate share of any future capital
expenditure requirements on the project. In addition, EEX received
cash at closing and future work commitments from Mobil. EEX
remains the operator of the project. Production on the Garden
Banks project is expected to commence in the third quarter of this
year.
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 daily authorized.
Enserch Exploration, Inc.
Dated: August 16, 1995 By: /s/ J. W. Pinkerton
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J. W. Pinkerton,
Vice President