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PENNZOIL COMPLETES OFFERINGS OF 5 MILLION SHARES

 HOUSTON, Sept. 22 /PRNewswire/ -- Pennzoil Co. (NYSE: PZL) announced the completion of underwritten public offerings of 5 million shares of its common stock at an offering price of $62.50 per share. The proceeds of the offerings will be used to reduce high-cost debt.
 The underwritings were managed in the United States by Lehman Brothers, Merrill Lynch & Co. and Smith Barney Shearson Inc. and outside the United States by Lehman Brothers International, Merrill Lynch International Limited and Smith Barney Shearson Inc.
 -0- 9/22/93
 /CONTACT: Robert Harper of Pennzoil, 713-546-8536/
 (PZL)


CO: Pennzoil Co. ST: Texas IN: OIL SU: OFR

TW -- NY075 -- 4816 09/22/93 15:31 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
Words:110
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