Printer Friendly

TRIDENT NGL POSTPONES INITIAL PUBLIC OFFERING

 TRIDENT NGL POSTPONES INITIAL PUBLIC OFFERING
 HOUSTON, June 17 /PRNewswire/ -- Trident NGL, Inc. today announced


that, because of currently unfavorable capital market conditions, the proposed initial public offering of 15.5 million shares of Trident NGL stock has been postponed.
 Bruce M. Withers, Jr., chairman and chief executive officer of Trident NGL, said: "Trident NGL's ability to execute its business strategy and to continue to reduce its debt did not -- and does not -- require the completion of this public offering, nor do we wish to sell shares of Trident at a price that does not reflect the company's true value. We will reconsider a public offering at a later date, when market conditions are more favorable. Meanwhile, we will continue to execute our very successful strategy of growing Trident's business internally and through strategic acquisitions."
 Trident NGL Inc., a major, fully integrated natural gas liquids company, commenced operations in August 1991 upon its acquisition of substantially all of the NGL business of OXY USA Inc., an indirect wholly owned subsidiary of Occidental Petroleum Corporation. During 1991, Trident NGL generated $124.1 million of operating margin and revenues of $575.3 million, both on a pro forma basis giving effect to the acquisition.
 -0- 6/17/92
 /CONTACT: John Gottshall of Trident NGL, 713-364-6762, or Tom Daly or Mickey Mandelbaum of Kekst and Company, 212-593-2655, for Trident NGL/ CO: Trident NGL Inc. ST: Texas IN: OIL SU: OFR


SM-SH -- NY014 -- 0947 06/17/92 09:03 EDT
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:Jun 17, 1992
Words:246
Previous Article:CSP INC. ANNOUNCES INCREASED THIRD QUARTER RESULTS
Next Article:NORTHAMPTON TERMINATING EFFORTS TO ACQUIRE ASSETS OF G.S. INDUSTRIES
Topics:


Related Articles
TRIDENT NGL FILES FOR INITIAL OFFERING OF 15.5 MILLION COMMON SHARES
OCCIDENTAL TO SELL ITS TRIDENT NGL STAKE IN PUBLIC OFFERING
OCCIDENTAL PETROLEUM SELLS EQUITY INTEREST IN TRIDENT NGL
OCCIDENTAL PETROLEUM ANNOUNCES SALE OF INTEREST IN TRIDENT NGL INC.
NOVA CORP. AFFILIATE NGC TO COMBINE WITH TRIDENT NGL
TRIDENT NGL HOLDING, INC. REPORTS FOURTH QUARTER AND YEAR-END RESULTS
C O R R E C T I O N -- NGC CORP.
NGC CORP. ANNOUNCES FINAL RESULTS OF TRIDENT NGL HOLDING INC. TENDER OFFER
NGC CORP. TO CONDUCT SECONDARY OFFERING OF COMMON STOCK
NGC CORP. REPORTS FIRST QUARTER 1995 RESULTS

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