USX-Marathon bids for Tarragon

Article Abstract:

USX-Marathon Group of Houston, TX, has offered to acquire Calgary-based Tarragon Oil and Gas Ltd. for C$1.03 billion. Under the deal, the company is offering $14.25 a share for all of Tarragon's outstanding stock in cash or USX shares. Meanwhile, Tarragon has agreed to pay a breakup fee of $30 million to USX if the deal is cancelled. If the deal is approved by shareholders, Tarragon would become a part of USX-Marathon's subsidiary, Marathon Oil Co. of Houston, TX. Meanwhile, Tarragon's stock price has been declining because of depressed commodity prices.

Comment:

Has offered to acquire Calgary-based Tarragon Oil and Gas for C$1.03 billion

Foreign operations, USX-Marathon Group, Article, Tarragon Oil and Gas Ltd.

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CanOxy plan expected to win support

Article Abstract:

Calgary, Alb.-based Canadian Occidental Petroleum Ltd. is planning to make a break from its parent company, Los Angeles, Calif.-based Occidental Petroleum Corp. Canadian Occidental, which will seek shareholder support for the move, has proposed a $1.2 billion deal that will separate the two companies.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Petroleum industry, Occidental Petroleum Corp., OXY, Canadian Occidental Petroleum Ltd.

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U.S. firm makes bid for Tri Link

Article Abstract:

Calgary, Alb.-based Tri Link Resources Ltd. will be acquired Houston, Texas-based Seneca Resources Corp. for $182 million. Tri Link Resources has been hurt by rising costs for the development of its Saskatchewan oil properties.

Natural Gas Processing, Natural Gas Liquid Extraction, Natural gas liquids, Oil and gas exploration services, Gas industry, Petroleum services industry, Tri Link Resources Ltd., Seneca Resources Corp.

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