Acquire

UPR Racking Up Property Sales

The Australian-owned oil and gas company, Chancellor Group, saysit has signed a letter of intent to acquire from Union PacificResources a half-interest in the Deadwood Field in East Texas for$35 million. The announcement comes on the heels of one made lastFriday by UPR that it had agreed to sell its interests in certainSouth Texas oil and gas properties to Collins & Ware Inc. for$148 million.

September 15, 1998

Futures Add to Last Week’s Losses

The Australian-owned oil and gas company, Chancellor Group, saysit has signed a letter of intent to acquire from Union PacificResources a half-interest in the Deadwood Field in East Texas for$35 million. The announcement comes on the heels of one made lastFriday by UPR that it had agreed to sell its interests in certainSouth Texas oil and gas properties to Collins & Ware Inc. for$148 million.

September 15, 1998

Key Energy, Dawson Sign Merger

Key Energy Group Inc. announced Tuesday that it has signed adefinitive merger agreement to acquire Dawson Production Servicesfor an estimated $352 million. The terms of the agreement call forKey Energy to purchase 11.5 million outstanding shares of Dawsoncommon stock for a total of $202 million, and to assume Dawson’sexisting debt of $150 million.

August 12, 1998

Canadian Producers to Acquire Pan-Alberta Gas

Pool marketer Pan-Alberta Gas and a consortium of sevenproducing companies have reached agreement on the terms under whichthe marketing company will be offered for sale to the more than 435Canadian producers in the pool. The announcement of the agreementconfirmed earlier reports that a Canadian coalition was expected towin out over bids from major U.S. marketers.

August 10, 1998

Evergreen Increases Stake in Raton Basin

Evergreen Resources Inc. last week reached an agreement toacquire Amoco Production’s oil and gas interests in the Raton Basinof Colorado, resolving current litigation matters between the twoproducers.

July 6, 1998

Marathon Returning to Canada with Tarragon Deal

Marathon Oil plans to return to Canada with its agreement toacquire Tarragon Oil and Gas Ltd. of Calgary for $1.1 billion,including $340 million of assumed debt. Marathon has not held oilor gas properties in Canada since divesting its Canadian holdingsin 1982.

June 2, 1998

Carolina P&L Looking for Strategic Gas Company Alliance

Carolina Power & Light intends to either acquire a naturalgas supply or marketing company or strike a “strategic alliance”with one in a plan to offer customers “one-stop shopping” for theirmajor energy needs.

April 6, 1998

Discovery Takes A Third Partner

A U.S. subsidiary of British-Borneo Petroleum Syndicate agreedto acquire 16.67% interest in Discovery Producer Services and itssubsidiary Discovery Gas Transmission. In addition, British-Borneohas the right to increase its ownership to 33.3% over the nextthree years. The transaction is valued at about $83.3 million.

April 3, 1998

Mitchell to Acquire Texas Properties for $50 Million

Mitchell Energy & Development agreed to pay $50 million foroil and gas producing properties in three separate transactions.

April 3, 1998

Ohio JV Buying Marbel Energy

FirstEnergy Corp. and Belden & Blake Corp. agreed to createa joint venture called FE Holdings to acquire natural gasproperties. The companies also agreed to buy privately held MarbelEnergy Corp., a fully integrated natural gas company. “The creationof FE Holdings – with access to low-cost, high-quality explorationand production capabilities combined with utility distribution andtransportation facilities – will produce tremendous opportunitiesfor our company, customers and shareholders,” said FirstEnergy CEOWillard R. Holland. “The ability to offer customers bothelectricity and natural gas, as well as a wide range of otherenergy-related products and services, will further enhance ourposition as a strong competitor in the evolving energy industry.”

March 24, 1998