Merge

Unocal Merges Permian and San Juan Assets with Titan

Unocal Corp. and Titan Exploration, Inc. announced an agreementto merge Unocal’s oil and gas exploration and production assets inthe Permian and San Juan basins with Titan yesterday. The newcompany, Pure Energy Resources Inc., is expected to be formed aftera Titan shareholder vote during the first quarter of 2000. Unocaland Titan expect the new company to have a balance sheet valuedbetween $800 and $900 million.

December 15, 1999

Canadian Producers Merge as Cabre Buys Jet

Two Alberta-based producers, Cabre Exploration and Jet Energy,jointly announced a merger last week, in which Cabre will acquireJet and its 43.9 Bcf of proven reserves. Cabre said it will mailits offer to Jet shareholders no later than Oct. 18.

October 11, 1999

TotalFina Wins Bid to Acquire Elf Aquitaine

After wrangling over who would take over whom, France’s largest oilcompany, TotalFina, and Elf Aquitaine agreed to merge in what thecompanies called an “amicable” deal. TotalFina agreed to improve theterms of its initial July 5 hostile offer for Elf that was worth about$43 billion. The move follows a counter-offer made by Elf forTotalFina (see Daily GPI, July 20).

September 14, 1999

AZ Regulator Accused of Tampering with SW Gas Merger

The bloody battle over the right to merge with Southwest GasCorp. has recently claimed another victim: Arizona CorporationCommissioner (ACC) Jim Irvin. Federal and state authorities areinvestigating allegations that the state regulator illegallyinfluenced Southwest Gas to go with Oneok Inc. as a merger partnerinstead of rival suitor Southern Union Co.

August 23, 1999

AZ Regulator Accused of Tampering with Southwest Merger

The bloody battle over the right to merge with Southwest GasCorp. has recently claimed another victim: Arizona CorporationCommissioner (ACC) Jim Irvin. Federal and state authorities areinvestigating allegations that the state regulator illegallyinfluenced Southwest Gas to go with Oneok Inc. as a merger partnerinstead of rival suitor Southern Union Co.

August 23, 1999

UtiliCorp in $800 Million Merger

UtiliCorp United and Empire District Electric Co. have announcedthey have signed a definitive agreement to merge the twoMissouri-based companies in a stock and cash transaction valued at$800 million, including the assumption of debt.

May 12, 1999

PennzEnergy Rejuvenating U.S. Operations

PennzEnergy Co. — recently formed when Pennzoil Products Groupwas spun off to merge with Quaker State — is in the process ofreactivating its onshore U.S. operations and tip-toeing deeper intothe Gulf of Mexico. PennzEnergy operations are focused on threeareas: domestic onshore, domestic offshore, and international.Operations are in East and West Texas, on- and offshore Gulf ofMexico, and in Egypt, Azerbaijan, and Venezuela.

February 15, 1999

Supply and Demand Side Companies Merge

The supply-side energy marketer Strategic Energy Ltd. (SEL) andthe demand-side management company Custom Energy LLC (CustomEnergy) announced a merger last week designed to help customerslower energy use and cost.

November 9, 1998
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