September 1, 1998 |
Hicks, Muse, Tate & Furst Inc. said Monday it has agreed to buy as much as 35% of Triton Energy Ltd., an oil and natural gas explorer that needs an influx of cash to develop foreign projects. The Dallas-based investment group will pay between $165 million and $220 million for the stake. The investment follows Hicks Muse's $250-million purchase of a 62% stake in Fort Worth-based Coho Energy Inc. last week.
July 18, 1998 |
Atlantic Richfield Co., the seventh-largest U.S. oil company, said Friday that it will acquire half of Triton Energy Ltd.'s stake in natural gas reserves in the Gulf of Thailand, providing up to $657 million in financing for the project over seven years. Arco will pay Triton $150 million in cash, provide $377 million in financing to develop the gas field known as Block A-18 and make payments totaling $130 million if Triton meets production goals by July 1, 2005.
October 15, 1999 |
A federal jury has awarded the chief executive of an Irvine-based software company $11 million damages after finding that he and his company had been "maliciously prosecuted" by oil and gas producer Triton Energy Ltd. David A. Hite, chief executive of Veronex Technologies Inc., contended that Triton had sued him maliciously after he had accused the company of improper accounting procedures and complained to federal authorities.
February 3, 1999 |
Sprint Corp., the No. 3 U.S. long-distance phone company, said Tuesday that fourth-quarter profit per share rose 10%, below estimates, as it spent more on a new network and losses from international operations widened. Profit before a gain rose to $404.6 million, or 79 cents a share, from $356.7 million, or 72 cents, in the year-earlier period. Sprint had been expected to earn 85 cents, the average estimate of analysts surveyed by First Call Corp. Sprint is upgrading its U.S.
December 18, 2004 |
Six years ago, the president of Equatorial Guinea was invited to invest in a promising venture with one of the U.S. oil giants tapping his tiny nation's reserves. Mobil Oil Corp. offered the West African leader a stake in an oil trading business for $2,300, according to documents the company filed with a Senate subcommittee that were released last month. Now, the company says, that stake is valued at about $645,000. Mobil, now part of Exxon Mobil Corp.