Union Pacific Resources Group announced additional details ofproducing properties it will sell to raise at least $600 million byyear-end. US and international properties make up nine bid packagesand will be made available in two phases. The first phase willinclude properties in the Gulf of Mexico, South Louisiana, SouthTexas and East Texas. Executive summaries for these packages willbe available by June 1 with closings anticipated by Oct. 1. Thesecond phase of the program will include properties in the RockyMountains, Argentina, Egypt and Australia. Executive summaries willbe available July 1 with closings anticipated by Oct. 30.
The sale of non-Canadian international and U.S. properties willbe managed by UPR. A complete list of these properties, along withadditional information and maps, is available at UPR’s internetdeal room at the Petroleum Exchange website at www.petroleumx.com.Prospective buyers visiting the site may sign up for the UPRmailing list. Otherwise UPR at (817)877-6093. For informationconcerning the United States and international properties, callMarty Searcy, (817)877-6710, or Joe Carroll, (817)-877-7718.
The sale of Canadian properties, which will be offered asseveral discrete packages, will be handled by Waterous Securities,in Calgary. Call Adam Waterous or Doug De Filippi, (403)265-8077,or visit Waterous’ website at www.waterous.com for details.Materials will be sent to prospective buyers May 6 and data roomswill be available beginning in mid-May. Initial bids will beexpected around June 15 and closing is anticipated by earlySeptember.
UPR said last week it also will consider monetization of itsgathering, processing and marketing business as part of thedeleveraging program. For information, call Dick Eales,(817)877-7588 or Don Niemiec, (817)255-6932.
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