BP to acquire Amoco in huge deal spurred by low energy prices

Article Abstract:

British Petroleum PLC will acquire Amoco Corp., the largest natural gas producer in North America, for $48.2 billion in a stock-exchange deal that industry analysts believe will put the new company in a second place world ranking in both reserves and oil-and-gas production. The companies are planning to save $2 billion in costs by the end of 2000 through layoffs of about 6,000 workers and other measures following approval of the merger by antitrust regulators. The combined 1997 revenues of both companies was $108 billion.

Comment:

Will acquire Amoco Corp for $48.2 billion in a stock-exchange deal

Licensing/Sales Agreements, British Petroleum Company PLC, Amoco Corp., Article

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Duke Energy agrees to pay $1.35 billion for gas unit of Union Pacific Resources

Article Abstract:

Duke Energy expands from 41 to 60 natural gas processing plants with the acquisition of Union Pacific Resources Group Inc. for $1.35 billion. It also expands its pipeline holdings, mostly in the West, by 7,200 miles to 19,800 miles. UPR has other assets, mostly oil, that it would also like to sell to help it in its efforts to reduce debt, but it will wait until that market is more profitable for sellers.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Natural Gas, Well Produced, Natural gas, Union Pacific Resources Group Inc., UPR, Duke Energy Group Inc.

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Arco accepts BP Amoco's takeover deal

Article Abstract:

If BP Amoco and ARCO get board and regulatory approval for their $26.6 billion deal, the company will have the most U.S. reserves of any oil company, about 60%, in the most expensive place in the world to produce oil. BP Amoco will pay a hefty premium for ARCO's shares for which ARCO has agreed to relinquish all control of the company to BP Amoco.

Comment:

British firm to acquire ARCO for $26.6 billion, if approved

Foreign operations, PETROLEUM AND COAL PRODUCTS, Petroleum industry, Atlantic Richfield Co., BP PLC, ARC

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