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.
November 24, 1987 |
Maxus Energy, an oil and gas producer, Monday sued former top stock speculator Ivan F. Boesky and the investment banking firm Kidder, Peabody & Co., for alleged insider trading that boosted the price of a 1983 acquisition. The lawsuit alleges that Martin A. Siegel, who was a vice president of Kidder Peabody at the time, leaked non-public information to Boesky about the planned takeover of Natomas Co. by Maxus, then known as Diamond Shamrock.
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.