Gas stocks catch fire on Poco takeover

Article Abstract:

Burlington Resources Inc of Houston,TX, is acquiring Poco Petroleum Ltd of Calgary Alberta in a C$2.7-billion stock swap. Burlington will also assume Poco's C$1.1-bil debt. The transaction values Paco's stock at C$16.78 per share based on the Burlington's closing price of $45.31 per share on Aug 16, 1999. The acquisition boosted the stock prices of Canadian energy companies with significant gas assets, which are attracting the interests of their US counterparts because of stronger dollar, tighter gas supplies across the US, increasing US gas prices and expansion of export pipelines.

Mining & Extractive Industries, Mining, Poco Petroleums Ltd.

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Burlington Resources grabs gas producer Canadian Hunter

Article Abstract:

Burlington Resources buys Canadian Hunter Exploration Ltd. Company officials announced the $2.08 billion deal which is the latest in a strig of acquisitions of Candian companies by the U.S. energy industry.

United States, Crude petroleum and natural gas, Mergers, acquisitions and divestments, Company Profile, Burlington Resources Inc., BR, Canadian Hunter Exploration Ltd.

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