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May 3, 1990 | BRUCE KEPPEL
Los Angeles-based Unocal agreed Wednesday to buy Prairie Holding, an exploratory subsidiary of Placer Dome that also produces crude oil and natural gas. It will pay $252 million in cash and assume $84 million in debts and other liabilities. Unocal said Prairie will add more than 20,000 acres of potential energy fields in East Texas and Louisiana, along with interests in three gas-processing plants. The operations integrate with its existing operations in the region.
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BUSINESS
May 3, 1990 | BRUCE KEPPEL
Los Angeles-based Unocal agreed Wednesday to buy Prairie Holding, an exploratory subsidiary of Placer Dome that also produces crude oil and natural gas. It will pay $252 million in cash and assume $84 million in debts and other liabilities. Unocal said Prairie will add more than 20,000 acres of potential energy fields in East Texas and Louisiana, along with interests in three gas-processing plants. The operations integrate with its existing operations in the region.
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BUSINESS
October 2, 1985
The Los Angeles oil company, which earlier placed 45% of its domestic oil and gas reserves into a special partnership as an anti-takeover move, said the distribution to shareholders will equal 65.5 cents per common share. This is the first distribution of partnership units by the company since it formed Union Exploration Partners Ltd. in late May as part of its efforts to thwart a takeover bid by Texas oilman T. Boone Pickens Jr.
BUSINESS
June 1, 1985
A total of 7.5 million units of the master limited partnership, called Union Exploration Partners, will be offered to the public at between $22 and $26, Unocal announced. The partnership will acquire nearly all the assets of the Gulf region of Union Oil of California, Unocal's subsidiary. Union Oil will own about 96.6% of the partnership after the sale. The offering is expected to occur about July 1, and a distribution to shareholders of $37.
BUSINESS
July 1, 1986 | DONALD WOUTAT, Times Staff Writer
Unocal cut its dividend by 5 cents to 25 cents a share Monday and said the collapse of oil prices will have a worse effect on second-quarter earnings than it did on first-quarter results, when profits plunged 61%. Unocal's dividend had been the subject of speculation by analysts all year because of the plunging prices and the heavy debt load that the Los Angeles-based oil company took on last year in fighting off a takeover attempt by investors led by Texas oilman T. Boone Pickens Jr. Fred L.
BUSINESS
April 20, 1985 | NANCY RIVERA, Times Staff Writer
Borrowing a page from the T. Boone Pickens strategy book, Unocal said Friday that its executive committee will recommend that the board of directors spin off the company's Gulf of Mexico oil and gas reserves of its Union Oil subsidiary into a limited partnership.
BUSINESS
June 3, 1985 | NANCY RIVERA, Times Staff Writer
Unocal has no plans to sell any assets to pay off the $4.15 billion in new debt that was the price of fending off takeover veteran T. Boone Pickens Jr., but capital spending plans will be scaled back, according to Unocal Chairman Fred L. Hartley. Unocal, which has been Hartley's employer for 46 of his 68 years, will "keep right on going" now that the investor group led by Pickens has agreed to end its three-month quest to take over the Los Angeles company, Hartley said in an interview last week.
BUSINESS
October 29, 1985 | DENISE GELLENE, Times Staff Writer
Atlantic Richfield on Monday reported improved earnings in the third quarter, but Unocal said earnings dropped by 12.4%. Arco, which reported an operating loss a year earlier, said it earned $403 million in the third quarter. Quarterly revenue fell to $5.5 billion from $6 billion a year earlier. Unocal reported earnings of $158.7 million, down from the $181.2 million that it earned in the third quarter a year earlier. The company said operating earnings were down only 8% for the quarter.
BUSINESS
May 1, 1990
This third annual edition of The Times 100 is designed to provide a systematic look into the dynamics of California business by ranking the performance of companies headquartered in the state. The information was collected and analyzed by MZ Group, a business analysis and database publishing firm in San Francisco (415-543-8290) headed by Mansoor Zakaria and Kevin Colosimo. MZ's research was coordinated by Helen Arrick. MZ Group gathered information on 830 California-based companies whose stock is publicly traded, relying on databases, corporate and government reports, a mail survey and direct telephone contact with company representatives.
BUSINESS
April 28, 1992
This fifth edition of The Times 100, our annual inquiry into the performance of companies headquartered in California, was produced using data collected and analyzed by MZ Group, a business research and publishing firm in San Francisco. MZ Group gathered information on 696 California-based companies whose stock is publicly traded, relying on databases, corporate and government reports, a mail survey and phone calls to companies.
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