Union Pacific Resources Group Canadian subsidiary Union PacificResources Inc. (UPRI) has nearly completed its 1998 propertydivestiture program. The company expects to close on the finalproperty in the original offering later this year and projects its1998 non-core property sales program will top $143 million.

The Canadian divestiture program, part of UPR’s largerde-leveraging program announced earlier this year, was wellreceived by the market. Several purchasers expressed interest inthe properties offered; unit prices from the sales averaged morethan six dollars per proved barrel of oil equivalent.

UPRI’s non-core property sales included assets in the Chinchaga,Harmatton, Ansell, Ferrybank, Pembina, Turner Valley, Majorville,Taber North, Clear Prairie, Rainbow, Sylvan Lake and Spirit Riverareas of western Canada. The company plans limited additionalproperty sales not included in the original divestiture packagethat are expected to close in first quarter 1999.

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