Worth

Cross Timbers Oil Co. of Fort Worth, TX, continues to grow itspresence in the Arkoma Basin with an acquisition from Houston-basedOcean Energy Inc. Ocean Energy agreed to sell its working interestin certain properties in the Arkoma Basin in Arkansas and Oklahomato Cross Timbers for about $235.3 million, which will be used toreduce debt. The transaction, which is subject to customary closingconditions, is scheduled to close by mid-September.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

AltaGas Services recently bought three Canadian processingfacilities and associated gathering lines worth $17.4 million,continuing the Calgary-based midstream company’s trek toward the$200 million growth-spending goal set at the beginning of 1999.With this purchase, AltaGas has spent and committed a total of $115million in its acquisitions and expansion program this year.

AltaGas Services bought three Canadian processing facilities andassociated gathering lines worth $17.4 million on Friday,continuing the Calgary-based midstream company’s trek toward the$200 million growth-spending goal set at the beginning of 1999.With this purchase, AltaGas has spent and committed a total of $115million in its acquisitions and expansion program so far this year.

Williams’ Transcontinental Gas Pipe Line (Transco) bought $119 million worth of pipe and compressor facilities for the MarketLink expansion Wednesday despite the project’s lack of final approval from FERC. Construction is scheduled to begin when MarketLink clears all its regulatory hurdles in the late spring or early summer of next year.

Williams’ Transcontinental Gas Pipe Line (Transco) bought $119million worth of pipe and compressor facilities for the MarketLinkexpansion Wednesday despite the project’s lack of final approvalfrom FERC. Construction is scheduled to begin when MarketLinkclears all its regulatory hurdles in the late spring or earlysummer of next year.

Quicksilver Resources Inc. of Fort Worth, TX, closed on theacquisition of substantially all of Unocal Corp.’s Spirit Energy 76unit’s gas and oil assets in Michigan. Total consideration was $27million in cash and 404,381 shares of Quicksilver common stock. Thetransaction is effective January 1, 1999.

Pioneer Natural Resources, a Dallas-based independent producer,announced an agreement Monday to sell $245 million worth of oil andgas fields to Prize Energy Co., a Tulsa, OK-based producer. Lastmonth, Pioneer had planned to sell most of these same properties toCostilla Energy, but Costilla was unable to close the deal. ThePrize acquisition is expected to close June 29 with an effectivedate of July 1.