Completed

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

Trans Energy Closes Merger

Trans Energy Inc. said its merger with Natural Gas TechnologiesInc. (NGTI), a privately held oil and gas company based in Dallas,was completed March 26.

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
1 66 67 68 Next ›