PROPERTIES FOR SALE / Union Pacific Resources announces Details
FORT WORTH, Texas, April 27 /CNW/ -- Union Pacific Resources Group
Inc. (NYSE: UPR) today announced additional details regarding the producing
properties the Company will sell in accordance with its previously announced
deleveraging program. The goal of the plan is to raise at least $600 million
from producing property sales by the end of the year. The properties are
located in Canada, the United States and international locations outside of
North America. A table detailing the properties included in the deleveraging
program is attached.
The United States and international properties are organized into nine bid
packages and will be made available in two phases. The first phase will
include properties located in the Gulf of Mexico, South Louisiana, South Texas
and East Texas. The executive summaries for these packages will be available
to prospective buyers by June 1, 1998 with closings anticipated by October 1,
1998. The second phase of the program will include properties located in the
Rocky Mountains, Argentina, Egypt and Australia. Executive summaries will be
made available to prospective buyers by July 1, 1998 with closings anticipated
by October 30, 1998.
The sale of the international properties (non-Canadian) as well as those
in the United States will be managed internally by UPR. A complete list of
these properties, along with additional information and maps, is available at
UPR's internet deal room at Petroleum Exchange's website at
www.petroleumx.com. Prospective buyers who visit the website will have the
opportunity to electronically provide contact information and areas of
interest to the UPR mailing list. For interested parties without internet
access, please send expressions of interest to UPR via fax at 817-877-6093.
Prospective buyers who would like additional information concerning the United
States and international properties should contact Marty Searcy at
817-877-6710 or Joe Carroll at 817-877-7718.
The sale of Canadian properties, which will be offered as several discrete
property packages, will be handled by Waterous Securities, Inc. located in
Calgary, Alberta, Canada. Specific details about the Canadian properties may
be obtained from Adam Waterous or Doug De Filippi at 403-265-8077 or by
visiting Waterous' website at www.waterous.com. Explanatory letters and
introductory materials will be sent to prospective buyers of the Canadian
properties on May 6, 1998 and data rooms will be available beginning in mid-
May. Initial bids will be expected around June 15 and closing is anticipated
by early September.
UPR also announced on April 20, 1998 that it will consider the
monetization of its gathering, processing and marketing business (GPM) as part
of the deleveraging program. For information regarding this project, please
contact Dick Eales at 817-877-7588 or Don Niemiec at 817-255-6932. An
informational memorandum on the GPM business will be available in early June
1998.
Union Pacific Resources is one of the nation's largest independent oil and
gas exploration and production companies. Based in Fort Worth, Texas, UPR has
been the #1 domestic driller for the past 6 years and is the #1 gas producer
in the state of Texas.
UNITED STATES AND INTERNATIONAL PROPERTIES
PHASE 1
Major
Package 1 - Offshore Product Comments
Field
Eugene Island Blk 297 Gas Non-operated
Eugene Island Blk 74 Gas Non-operated
High Island A-340 Gas Non-operated
High Island A-355 Gas Non-operated
High Island A-545 Gas Non-operated
High Island A-441 Gas Operated
S. Marsh Island Blk 17 Gas Operated
Galveston Blk 333 Gas Non-operated
Matagorda Island Blk 587 Gas Non-operated
Package 2 - South Louisiana
Field
Bastian Bay Gas Operated
Four League Bay Gas Operated
King's Bayou Gas Operated and non-operated
East Atchafalaya Field Gas Operated
Delta Duck Club Gas Operated
Coquille Bay Gas Operated
West Lake Verret Gas Operated and non-operated
West Black Bay Gas Operated
Gillis English Bayou Field Gas Non-operated
Package 3 - South Texas
Field Stratton Field Gas Operated
Agua Dulce Field Gas Operated
Moca Field Gas Operated
McFaddin Field Gas Operated
Wadsworth Field Gas Operated
Hostetter Deep Gas Non-operated
Borosa Field Gas Non-operated
Hugh Fitzsimons Field Gas Operated
Package 4 - East Texas
Field
Deadwood Field Gas Non-operated
(SE Panola County)
Package 9 - East Texas
Field
Certain Cotton Valley
Pinnacle Reef Properties Gas Operated and Non-operated
PHASE 2
Package 5 -Egypt
Field
Warda Oil Non-operated
Package 6 - Australia
Field
Jabiru Oil Non-operated
Challis Oil Non-operated
Package 7 - Argentina
Field
El Santiagueno Oil Operated
Lindero de Piedra Oil Operated
Agua Salada Oil Non-operated
Faro Virgenes Gas Non-operated
Palmar Largo Oil Non-operated
CAA-35 Oil Non-operated
Package 8 - Rockies
Field
Desert Springs (Wyoming) Gas Operated
Rock Springs Uplift Area (Wyoming) Gas Non-operated
Dripping Rock/Mulligan Draw (WY) Gas Non-operated
Pineview Area (Utah) Oil Operated
Yellow Creek Shallow (Wyoming) Gas Operated
Williston Basin (N. Dakota, Mont.) Oil Non-operated
Silo Field (Wyoming) Oil Operated
CANADIAN PROPERTIES
Major divestiture packages include properties located in the following
areas of Alberta:
Major
Field Product Comments
1. Chinchaga Gas Non-operated
2. Harmattan Gas Non-operated
3. Majorville Gas Non-operated
4. Turner Valley Oil Non-operated
5. Ansell Gas Non-operated
6. Pembina Oil Operated and Non-operated
7. Ferrybank Oil Operated
8. North Taber Oil Operated
Minor packages are also located in Alberta with two smaller areas in
northeast British Columbia.
Field
1. Carson Creek Gas Operated
2. Sylvan Lake Gas Operated
3. Med. R. Unit #4/Raven Ostracod Gas Non-operated
4. Clear Prairie* Gas Operated
5. Pedigree* Gas Operated
6. Rainbow Gas Operated
7. Spirit River Triassic Unit Oil Operated
*Partially located in British Columbia
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