October 11, 1990 |
Mesa Limited Partnership agreed to sell a portion of its portfolio to Seagull Energy Corp. in a deal that could reach nearly $500 million and cut debts of T. Boone Pickens Jr.'s Mesa by nearly one-third, it was announced Wednesday. Under terms outlined in a letter of intent, Houston-based Seagull will pay $376 million in cash for the properties, reserves and acreage and assume $50 million in liabilities.
February 7, 1991 |
Mesa Limited Partnership said today that it has agreed to two transactions that would sell about 11% of its natural gas and oil reserves in deals that could eventually bring more than $300 million. The agreements came six weeks after a deal fell through in which Seagull Energy Corp. of Houston would have purchased 13% of Mesa's reserves. Seagull was not able to obtain financing for the purchase then but is the purchaser in one of the deals announced today. Mesa, led by investor T.
October 10, 1988 |
Tenneco Inc. has reached agreement to sell substantially all segments of its Tenneco Oil Co. subsidiary for more than $7.3 billion, the company said today. Chevron Corp. said it would buy Tenneco's Gulf of Mexico oil and natural gas reserves, production facilities and leasehold interests for about $2.6 billion. Maverick Texas oilman T. Boone Pickens' Mesa Limited Partnership agreed to purchase Tenneco's Mid-Continent division for $715 million in cash, and Seagull Energy Corp.
December 17, 1990 |
The proposed $350-million sale of natural gas properties by T. Boone Pickens' Mesa Limited Partnership to Seagull Energy Corp. has been called off because Seagull failed to obtain acceptable financing commitments, the companies said today. The action is a setback for Mesa, which planned to use the sale to help reduce a $1-billion debt. Mesa and Seagull first announced the deal in October and reaffirmed it two weeks ago.
October 11, 1988 |
Seagull Energy Corp. Monday announced that it has signed letters of intent to acquire oil and gas properties for a total cash purchase price of about $56.2 million. Seagull and Tenneco Inc. have signed a letter of intent calling for Seagull to buy outstanding capital stock in Houston Oil & Minerals Corp. for $16.4 million. Houston Oil & Minerals is an indirect, wholly owned subsidiary of Tenneco. The letter of intent calls for Tenneco and Seagull to complete a stock purchase agreement by Oct.