EXHIBIT 99.1

[NUEVO ENERGY LOGO]

                                                                    NEWS RELEASE

FOR IMMEDIATE RELEASE                       CONTACT:
September 18, 2002                               Barbara B. Forbes
                                                 Director of Investor Relations
                                                 713-374-4870
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           NUEVO ENERGY ACQUIRES 100 BCFE OF NATURAL GAS IN WEST TEXAS

HOUSTON - Nuevo Energy Company (NYSE: NEV) today announced the acquisition of
Athanor Resources, Inc. (Athanor) which is a privately owned company funded
primarily by Yorktown Energy Partners. Nuevo acquired approximately 100 Bcfe of
proved reserves (97% natural gas and associated liquids) for 2 million shares of
Nuevo common stock, approximately $62 million in cash and the assumption of $20
million of debt.

"This acquisition marks the beginning of the second phase of Nuevo's corporate
transformation," commented Jim Payne, Chairman, President and CEO of Nuevo
Energy. "It meets all of our strategic criteria in addition to being accretive
to earnings and cash flow in 2003. With this transaction, we significantly
increased our natural gas production, added higher margin operated properties
and established a new core area with attractive development and exploration
potential."

"Athanor's stockholders agreed to take Nuevo's common stock as part of the
purchase consideration because we believe in the Company's articulated business
strategy and the Company's potential," stated Bryan Lawrence of Yorktown Energy
Partners. "We look forward to becoming stockholders of Nuevo."

Athanor Assets

The Pakenham Field, located in Terrell County, Texas, accounts for essentially
all of Athanor's production. Current production is from the Wolfcamp, Thrusted
Wolfcamp, and Strawn formations. In the fourth quarter 2002, net production is
expected to average approximately 20 million cubic feet of natural gas
equivalent per day (MMcfed). While approximately 80% of current production is
from the shallow Wolfcamp formation, a substantial portion of the future
development will be directed toward the deeper, more prolific zones.

J.P. Morgan Securities Inc. acted as Nuevo's financial advisor in this
transaction.

Conference Call and Web Cast

Nuevo will host a conference call to discuss this acquisition on September 19th
at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). There will also be a
simultaneous web cast of the conference call which can be accessed from Nuevo's
web site at www.nuevoenergy.com

Nuevo Energy Company is a Houston, Texas-based company primarily engaged in the
acquisition, exploitation, development, production, and exploration of crude oil
and natural gas. Nuevo's domestic properties are located onshore and offshore
California, and West Texas. Nuevo is the largest independent producer of oil and
gas in California. The Company's international properties are located offshore
the Republic of Congo in West Africa and onshore the Republic of Tunisia in
North Africa. To learn more about Nuevo, please refer to the Company's internet
site at http://www.nuevoenergy.com.




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         THIS PRESS RELEASE INCLUDES "FORWARD-LOOKING" STATEMENTS WITHIN THE
MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS AMENDED, SECTION 21E OF
THE SECURITIES EXCHANGE ACT OF 1934 AND THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS INCLUDED
IN THIS PRESS RELEASE, INCLUDING WITHOUT LIMITATION, ESTIMATED QUANTITIES AND
NET PRESENT VALUE OF RESERVES, ESTIMATED PRODUCTION VOLUMES, BUSINESS
STRATEGIES, PLANS AND OBJECTIVES OF MANAGEMENT OF THE COMPANY FOR FUTURE
OPERATIONS AND COVENANT COMPLIANCE AND CAPITAL EXPENDITURES ARE FORWARD-LOOKING
STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE ASSUMPTIONS UPON WHICH SUCH
FORWARD-LOOKING STATEMENTS ARE BASED ARE REASONABLE, IT CAN GIVE NO ASSURANCES
THAT SUCH ASSUMPTIONS WILL PROVE TO HAVE BEEN CORRECT. IMPORTANT FACTORS THAT
COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S EXPECTATIONS
("CAUTIONARY STATEMENTS") AND PROJECTIONS INCLUDE VOLATILITY IN OIL AND GAS
PRICES, OPERATING RISKS, THE RISKS ASSOCIATED WITH RESERVE REPLACEMENT,
COMPETITION FROM OTHER COMPANIES AND OTHER FACTORS SET FORTH IN THE COMPANY'S
ANNUAL REPORT ON FORM 10-K AND OTHER FILINGS MADE WITH THE SEC AND INCORPORATED
HEREIN. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS AND
PROJECTIONS ATTRIBUTABLE TO THE COMPANY OR TO PERSONS ACTING ON ITS BEHALF ARE
EXPRESSLY QUALIFIED BY THE CAUTIONARY STATEMENTS.