Acquisition

Williams Buys Energy Systems Provider

Williams complemented its retail energy marketing group with theacquisition of Tulsa-based Excel Energy Technologies, a provider ofenergy management systems and services for retail and commercialbuildings. “Excel’s products and services, combined with Williams’energy supply management products, will give our national energycustomers the benefit of proven technologies and systems to helpthem make educated decisions about energy management,” said JerryGollnick, Williams’ senior vice president of energy marketing andtrading.

May 22, 1998

Williams Completes Mapco Deal

The Williams Companies completed the acquisition of Mapco Inc.shifting the bulk of the company’s assets into an unregulatedbusiness environment.

March 31, 1998

Shareholders Approve Chesapeake-Hugoton Merger

Chesapeake Energy completed its acquisition of Hugoton Energyafter receiving shareholder approvals. Proforma for the Hugotontransaction and other announced pending acquisitions, Chesapeake’sproved oil and gas reserves will be about 1,050 Bcfe, of which 80%are natural gas. In addition, about 70% of Chesapeake’s reserveswill be proved developed producing, and 75% will consist oflong-lived Midcontinent reserves. Estimated proforma dailyproduction will exceed 410 MMcfe. Trading of Hugoton stock ceasedMarch 10, and each outstanding common share of Hugoton stock wasconverted into the right to receive 1.3 shares of Chesapeake commonstock. Holders of fractional shares will receive $8.78/Hugotonshare. About 26 million additional shares of Chesapeake will beissued to Hugoton shareholders. Including $120 million of Hugotondebt assumed by Chesapeake, the transaction is worth about $300million.

March 12, 1998

MC2 Looking to Western Markets

As a result of KN Energy’s acquisition of MidCon Corp. in lateJanuary, MC2 said it plans to turn its focus to retail natural gasand electric markets in western states in which its new parent doesa lot of trading.

March 6, 1998

Union Pacific Resources Completes Buy of Norcen Energy

Union Pacific Resources Group (UPR) closed on its acquisition ofNorcen Energy Resources. The companies’ boards approved the dealJan. 26. UPR initiated a tender offer for the 51.5% of Norcen’s stock not owned or controlled by Noranda Inc., a shareholder of49.5% Norcen common stock.

March 4, 1998
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