Printer Friendly

HS RESOURCES INC. ANNOUNCES SECURITIES FILINGS

 SAN FRANCISCO, Oct. 15 /PRNewswire/ -- HS Resources Inc. (NASDAQ-NMS: HSRS) announced today that it has filed with the Securities and Exchange Commission Registration Statements covering two separate offerings of securities (the "offerings"), one for $75 million of Senior Subordinated Notes due 2003 and one for 1,700,000 shares of common stock. The common stock offering is comprised of 1,000,000 shares to be offered by the company and 700,000 shares to be offered by selling shareholders. After the equity offering, the company will have approximately 10,750,000 shares outstanding. The offerings will be managed by underwriting groups led by Lehman Brothers.
 The proceeds from the offerings will be used to repay all of the company's outstanding bank debt, including debt incurred in the company's recent acquisition of Energy Minerals Co. the remaining proceeds from the offerings and resulting increased borrowing capacity, together with cash flow from the company's operations, will be used to fund its ongoing Wattenberg Development Project, development of its other D-J Basin properties and acreage positions in other areas of the Rocky Mountains, and other general corporate activities, including acquisitions.
 HS Resources Inc. is an oil and gas exploration and production company, and is one of the most active operators in the Rocky Mountains. Its common stock is traded on the NASDAQ National Market System under the symbol HSRS.
 -0- 10/15/93
 /CONTACT: P. Michael Highum, president of HS Resources, 415-433-5795/
 (HSRS)


CO: HS Resources Inc. ST: California IN: OIL SU:

TM-PK -- SF005 -- 2578 10/15/93 07:55 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 15, 1993
Words:258
Previous Article:MACROMEDIA TO DEVELOP DIRECTOR PLAYER FOR 3DO
Next Article:ESCAGENETICS RECEIVES NOTICE OF ALLOWANCE OF A BASIC PATENT: 'IN VIVO PRODUCTION OF TAXANES'
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters