Printer Friendly

TRIDENT NGL FILES FOR INITIAL OFFERING OF 15.5 MILLION COMMON SHARES

TRIDENT NGL FILES FOR INITIAL OFFERING OF 15.5 MILLION COMMON SHARES
 THE WOODLANDS, Texas, March 16 /PRNewswire/ -- Trident NGL, Inc. today announced that it had filed a registration statement with the Securities and Exchange Commission for an initial public offering of 15.5 million shares of its common stock.
 The offering will consist of 6.5 million shares to be sold by Trident in a primary offering, and 9 million shares to be sold by OXY NGL, Inc., an affiliate of Occidental Petroleum Corporation.
 Hicks, Muse & Co., the investment firm, formed Trident on August 30, 1991. After the offering, an investor group led by Hicks, Muse will hold 33.9 percent of Trident.
 The anticipated price range of the offering is $18.00-20.00 a share. Trident will use the proceeds to reduce debt.
 Trident is a major domestic producer and marketer of natural gas liquids. Its operations consist of natural gas gathering and processing; natural gas liquids transportation, fractionation, storage, and marketing; and an intrastate natural gas pipeline. Its facilities are located in Texas, Oklahoma, Louisiana, New Mexico, and Kansas.
 The lead manager for the offering is Donaldson, Lufkin & Jenrette Securities Corp. Co-managers for the issue are Kidder, Peabody & Co., Merrill Lynch & Co., Morgan Stanley & Co., and S.G. Warburg Securities.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/16/92
 /CONTACT: Steven Bruce or Robert Guenther of the Abernathy/MacGregor Group, 212-371-5999, for Trident NGL/ CO: Trident NGL Inc.; OXY NGL Inc. ST: Texas IN: OIL SU: OFR


AH -- NY037 -- 8263 03/16/92 11:16 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 16, 1992
Words:351
Previous Article:/C O R R E C T I O N -- WIRE SERVICE GUILD SEEKS UPI INVESTORS
Next Article:ROY ROGERS 'BACK BY POPULAR DEMAND' IN BALTIMORE/WASHINGTON/SALISBURY
Topics:


Related Articles
OCCIDENTAL TO SELL ITS TRIDENT NGL STAKE IN PUBLIC OFFERING
OCCIDENTAL PETROLEUM SELLS EQUITY INTEREST IN TRIDENT NGL
WARREN PETROLEUM ACQUIRES BLUITT GAS PROCESSING PLANT
WESTERN GAS RESOURCES, INC. ANNOUNCES FOURTH QUARTER AND 1993 RESULTS
ENSERCH CORPORATION ANNOUNCES SECOND-QUARTER RESULTS
C O R R E C T I O N -- NGC CORP.
NGC CORP. TO CONDUCT SECONDARY OFFERING OF COMMON STOCK
NGC CORP. REPORTS FIRST QUARTER 1995 RESULTS
Bellwether Exploration Company Reports Fiscal 1997 Second Quarter Earnings of $1.1 Million, or $0.12 Per Share
Enterprise Products Partners L.P. Announces Common Unit Repurchase Program.

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