January 26, 1995 |
Maxus Energy Reveals Talks: The Dallas-based oil and natural gas producer said it is discussing possible transactions involving an equity stake amid speculation that it would be taken over. It said the talks are in a preliminary stage and that it was making the disclosure in response to recent news stories and analyst conjecture. Amoco Corp. was named as a possible suitor Tuesday by Platt's Oilgram News, a respected industry newsletter. A spokesman declined to say who the talks were with.
October 7, 1987 |
Diamond Shamrock R&M Inc. has agreed to pay the federal government $15 million to settle claims that the company overcharged for its crude oil. Company spokeswoman Kathy Hughes said Tuesday that the $15 million payment to the U.S. Department of Energy will cause the company to post a net loss during the third quarter. She could not estimate the amount of the loss.
June 18, 1991 |
The Supreme Court on Monday refused to block a $1.6-billion lawsuit against brokerage Kidder, Peabody & Co. over insider information allegedly given to convicted Wall Street figure Ivan F. Boesky. In other actions, the court: * Agreed to consider killing an antitrust lawsuit against Eastman Kodak Co. by companies that repair Kodak equipment. * Refused to squelch a Florida city's plan to operate a cable TV system in competition with a cable company.
August 27, 1990 |
The profitability of the 20 largest U.S. oil companies fell during the first half of the year, the American Petroleum Institute said Sunday, despite a rise in revenues. But the companies' prospects are likely to improve dramatically in the second half of the year due to the 50% rise in crude prices since the Iraqi invasion of Kuwait. The API said profit as a percentage of stockholder equity fell to 13.2% from 15.8% last year.
November 6, 1994 |
After fighting off outsiders for centuries, Waorani natives have set aside their spears and arrows to welcome a U.S. petroleum company into their remote rain-forest homeland. The company, Texas-based Maxus Energy Corp., keeps the peace with the Waoranis by sponsoring community development projects, such as a school, and paying native men to help protect the natural environment along a new road into the forest.
April 5, 1989 |
America's largest manufacturers enjoyed their most prosperous year in recent history during 1988 as continued economic growth brought record profits and soaring sales, Fortune magazine said Tuesday in its latest ranking of the 500 biggest U.S. industrial companies. "As the U.S. economy expanded for the sixth straight year, demand continued to surge and factories and refineries operated near capacity," Fortune said in its April 24 issue, available on newsstands today.