SONAT INC. WILL CONSIDER OFFERS FOR ITS SUBSIDIARY, TELECO OILFIELD SERVICES INC.
SONAT INC. WILL CONSIDER OFFERS FOR ITS SUBSIDIARY,
TELECO OILFIELD SERVICES INC.
BIRMINGHAM, Ala., Nov. 4 /PRNewswire/ -- Sonat Inc. (NYSE: SNT) today announced that it will consider offers for its Teleco Oilfield Services Inc. subsidiary.
Teleco Oilfield Services Inc., acquired by Sonat in 1984, is the world leader in providing measurement-while-drilling services and has recently developed a new "triple combo" formation evaluation tool that competes with existing wireline technology. Teleco, headquartered in Meriden, Conn., also furnishes performance drilling services for directional and horizontal wells.
Sonat has engaged Simmons & Company International of Houston, Texas, to assist it in this effort.
Sonat, headquartered in Birmingham, Ala., is a worldwide energy company involved in natural gas transmission and marketing, oil and gas exploration and production, and oil services.
/CONTACT: Thomas W. Barker, Jr. of Sonat, 205-325-3586/
(SNT) CO: Sonat Inc.; Teleco Oilfield Services Inc. ST: Alabama, Connecticut IN: OIL SU: BN-BR -- AT001 -- 0560 11/04/91 08:16 EST