Spirit Energy Selling MI Properties

Spirit Energy 76, Unocal Corp.’s Lower 48 exploration andproduction unit reached a definitive agreement to sellsubstantially all of its oil and gas assets in Michigan to NewstarEnergy USA Inc. and Omimex Energy Inc. for about $37.25 million incash and 670,000 shares of stock in Newstar Resources, the parentcompany of Newstar Energy.

October 5, 1998

In Brief

Energen Resources Corp., the oil and gas subsidiary of EnergenCorp., reported it signed a definitive agreement to acquire thestock of Total Minatome Corp. for $110 million, plus $22 million inlegal and financial obligations. For its investment, EnergenResources will gain an estimated 200 billion cubic feet equivalent(Bcfe) of proved domestic oil and natural gas reserves. Immediatelyupon closing the transaction on Oct.15, Energen Resources (formerlyTaurus Exploration Inc.) plans to sell a 31% undivided interest inTotal Minatome’s assets to Westport Oil and Gas Co. Inc.

September 21, 1998

CalEnergy, MidAmerican Ink Merger Pact

The boards of directors of CalEnergy Co. Inc. and MidAmericanEnergy Holdings Co. announced yesterday that they have signed adefinitive merger agreement. Under the deal, Omaha, NE-basedCalEnergy has agreed to acquire neighboring MidAmerican Energy for$4 billion in a stock transaction.

August 13, 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

Midcoast Plans to Buy El Paso’s Anadarko System

Midcoast Energy Resources marked another in a chain of recentgrowth spurts with a definitive agreement to buy the Anadarkopipeline system from El Paso Field Services. Under the agreement,Midcoast will acquire the Anadarko system in Beckham and RogerMills counties, OK, and Hemphill, Roberts and Wheeler counties, TX.The system is made up of more than 696 miles of primarily 16-inchand 20-inch pipeline with an average throughput of 151 MMcf/day anda total capacity of 345 MMcf/day. The system gathers gas from about250 wells and includes a 40 MMcf/day gas processing facility, 11compressor stations with a total of more than 14,000 hp andinterconnections with eight major interstate and intrastatepipeline systems.

July 31, 1998

Industry Briefs

ONEOK Resources has signed a definitive agreement with OXY USAto purchase some of its natural gas and oil reserves including morethan 400 wells in Oklahoma and Kansas outside the Hugoton field forapproximately $135 million before adjustments. Net production isapproximately 30 MMcf/d and 400 b/d. The properties havelower-risk development potential for increased reserves. WhileONEOK’s previous reserve acquisitions have been concentrated inOklahoma, this purchase includes significant reserves in Kansaswhere ONEOK recently acquired Kansas Gas Service, an LDC servingtwo-thirds of the state. David Kyle, president and chief operatingofficer of ONEOK, Inc., said the acquisition will almost doubleONEOK’s oil and gas reserve base. The acquisition includes a gassweetening plant located in the Aledo Field in Oklahoma.

March 2, 1998
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