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ASHLAND SIGNS AGREEMENT TO SELL POWDER RIVER BASIN CRUDE OIL PIPELINE

ASHLAND SIGNS AGREEMENT TO SELL POWDER RIVER BASIN CRUDE OIL PIPELINE
 ASHLAND, Ky., Sept. 22 /PRNewswire/ -- Ashland Oil, Inc. (NYSE: ASH) today reported that its wholly owned subsidiary Scurlock Permian Corporation has signed a definitive agreement to sell its Thunderbird crude oil common carrier pipeline system in Montana and Wyoming to Belle Fourche Pipeline Company.
 Terms of the transaction were not disclosed. The agreement is subject to obtaining all required governmental approvals and other normal conditions.
 The Thunderbird pipeline system includes 447 miles of common carrier and gathering pipelines stretching from Alzada Station in southeast Montana to Reno and Sussex Stations in northeast Wyoming. The pipeline has handled approximately 25,000 barrels per day of sweet crude produced in the Powder River Basin.
 The transaction is part of a previously announced program by Ashland to divest properties and businesses valued at approximately $200 million. Funds from these transactions will be used to reduce debt.
 Belle Fourche is a privately held pipeline company based in Casper, Wyo.
 Scurlock Permian Corporation is one of the largest independent gatherers and marketers of crude oil in the United States operating in 15 states with over 4,000 miles of active pipelines, numerous storage terminals and a fleet of more than 700 trucks.
 Ashland is a diversified energy company engaged in petroleum refining, transportation and marketing; retail gasoline marketing; motor oil marketing; chemicals; coal; highway construction and oil and gas exploration and production.
 -0- 9/22/92
 /CONTACT: Roger Schrum of Ashland Oil, Inc., 606-329-4061/
 (ASH) CO: Ashland Oil, Inc.; Scurlock Permian Corporation; Belle Fourche
 Pipeline Company ST: Kentucky, Montana, Wyoming IN: OIL SU: TNM


DM -- PG005 -- 2053 09/22/92 09:56 EDT
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Publication:PR Newswire
Date:Sep 22, 1992
Words:279
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