Printer Friendly

PENNZOIL AND AMOCO SWAP FIELDS

 HOUSTON, Oct. 14 /PRNewswire/ -- Pennzoil Petroleum Co., a wholly owned subsidiary of Pennzoil Co. (NYSE: PZL), and Amoco Production Co., a wholly owned subsidiary of Amoco Corp. (NYSE: AN), have exchanged interests in eight Gulf Coast oil and gas fields with combined natural gas production of 36 million cubic feet per day and combined oil production of 1,800 barrels per day.
 In the trade, Pennzoil received Amoco's interests in the Red Fish Point field of coastal Louisiana and the Burnell and North Pettus fields in south Texas. In turn, Amoco received Pennzoil's interests in the Judge Digby, False River, Moore-Sams, Profit Island and Frisco fields in the False River area of Louisiana.
 Both Pennzoil and Amoco cited operational efficiencies as the reason for the exchange, noting that property trades with other oil companies are a component of each company's strategy to focus on core areas.
 -0- 10/14/93
 /CONTACT: Gregory Clock of Amoco, 312-856-5481, or David Webster of Pennzoil, 713-546-6609/
 (PZL AN)


CO: Pennzoil Petroleum Co.; Amoco Production, Co. ST: Texas IN: OIL SU:

MP -- NY044 -- 2191 10/14/93 11:38 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 14, 1993
Words:185
Previous Article:ARGOSY GAMING COMPANY ISSUES STATEMENT
Next Article:THE LISTENING POST -- A NEW ERA BEGINS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters