WESTERN GAS RESOURCES OFFERS 4,100,000 COMMON SHARES AT $18.375 PER SHARE
WESTERN GAS RESOURCES OFFERS 4,100,000 COMMON SHARES
AT $18.375 PER SHARE
DENVER, Nov. 14 /PRNewswire/ -- Western Gas Resources Inc. (NYSE: WGR) announced today the public offering of 4,100,000 shares of its common stock at a price of $18.375 per share. Of the 4,100,000 shares being offered, 3,500,000 shares are being offered by the company and 600,000 shares are being offered by a stockholder. Morgan Stanley & Co. Inc. and Donaldson, Lufkin & Jenrette Securities Corp. are the lead managers of the underwriting group.
The net proceeds to the company from the sale of the shares will be used to repay a portion of the long-term debt incurred in the acquisition of the gas processing division of Union Texas Products Corp.
Western Gas Resources owns and operates natural gas gathering and processing facilities and markets and transports natural gas and natural gas liquids.
/CONTACT: Ronald O. Wirth of Western Gas Resources, 800-933-5603/
(WGR) CO: Western Gas Resources Inc. ST: Colorado IN: OIL SU: OFR BB -- DV001 -- 4349 11/14/91 10:44 EST