December 19, 2005
HOUSTON – Dominion Exploration and Production, a wholly owned subsidiary of Dominion (NYSE: D), announced today that the company’s offshore business unit will return to New Orleans beginning in March of 2006.
The company’s offshore business unit, previously based at the Dominion Tower in the central business district of New Orleans, was temporarily relocated to Houston following wind and flood damage from Hurricane Katrina.
"We have a tremendously talented and loyal staff that has been displaced from New Orleans," said Duane Radtke, president and chief executive officer. "In terms of what is best for our people and our company, we have decided to return the majority of our employees who worked at the Dominion Tower to their home city."
Repair to the former Dominion Tower has been slow, so the offshore business unit will occupy space at the 1250 Poydras building in the same complex. Regular business at this location will commence on a phased schedule depending upon the build-out and retrofitting of the new office space.
Dominion E&P also announced an immediate need for engineers, geologists and geophysicists to fill newly created positions in New Orleans. While certain support functions will remain at the company’s Houston headquarters, the offshore business unit is committed to returning more than 200 employees and their families to New Orleans, said Kevin Guilbeau, senior vice president and general manager of the offshore unit.
"The hospitality of Houston has been wonderful, but we are anxious to return home and be a part of the rebuilding process in New Orleans," Guilbeau said. "We see a great deal of value in allowing our people and our decision-making process to reside close to our offshore assets."
Dominion is one of the nation's largest producers of energy, with an energy portfolio of about 28,100 megawatts of generation, about 6 trillion cubic feet equivalent of proved natural gas reserves and 7,900 miles of natural gas transmission pipeline. Dominion also operates the nation's largest underground natural gas storage system with more than 965 billion cubic feet of storage capacity and serves retail energy customers in nine states. For more information about Dominion, visit the company's Web site at www.dom.com.