Printer Friendly

ZAPATA CORPORATION ACQUIRES CIMARRON GAS COMPANIES, INC.

 ZAPATA CORPORATION ACQUIRES CIMARRON GAS COMPANIES, INC.
 HOUSTON, Nov. 13 /PRNewswire/ -- Zapata Corporation (NYSE: ZOS) has


acquired Cimarron Gas Companies, Inc., a holding company for a group of companies engaged in a variety of natural gas and natural gas liquids related businesses, Zapata Chairman and Chief Executive Officer R.C. Lassiter announced today.
 "The acquisition of Cimarron establishes a beachhead in several businesses which were identified and targeted by a strategic study commissioned by the Zapata Board of Directors in 1991. It is a first, important step in Zapata's business development strategy to take advantage of consolidation opportunities in the natural gas industry," Lassiter said.
 "Cimarron personnel are actively involved in the development of these opportunities. Robert W. Jackson, founder of Cimarron, will continue to serve as Cimarron president and chief executive officer. Zapata intends to exploit this exposure and continue to expand its presence by additional acquisitions as they are identified," he said. "In addition to complementing Zapata's existing oil and gas operations, Cimarron will serve as a vehicle for expansion by Zapata into selected natural gas businesses."
 Based in Tulsa, Okla., Cimarron is involved in the gathering, transportation, processing and marketing of natural gas, natural gas liquids and refined products. Cimarron also installs and maintains propane stand-by systems for utilities and manufacturing facilities. In 1991, Cimarron's annual revenues were approximately $180 million.
 An acquisition price for Cimarron was not announced.
 Zapata Corporation is a Houston-based international company that produces natural gas and oil and conducts marine protein operations that produce fish meal, a high-protein livestock feed ingredient, and fish oil from menhaden. Zapata is also a major shareholder in Tidewater, Inc., the world's leading operator of marine service vessels.
 -0- 11/13/92
 /CONTACT: Corporate affairs department of Zapata Corporation, 713-940-6240/
 (ZOS) CO: Zapata Corporation; Cimarron Gas Companies, Inc. ST: Texas IN: OIL SU: TNM


SM -- NY063 -- 0820 11/13/92 15:52 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:Nov 13, 1992
Words:316
Previous Article:DAVSTAR INDUSTRIES REQUESTS TEMPORARY SUSPENSION OF TRADING IN ITS COMMON STOCK AND WARRANTS
Next Article:DRS INDUSTRIES TO ACQUIRE 88 PERCENT OF STOCK OF FBS HOLDINGS
Topics:


Related Articles
ZAPATA REPORTS INCOME FOR 1993 FISCAL YEAR
ZAPATA REDUCES CORPORATE DEBT WITH $68.5 MILLION PAYMENT
ZAPATA ADDS 41 COMPRESSORS TO ENERGY INDUSTRIES FLEET
ZAPATA CORPORATION TO SEPARATE GAS, MARINE PROTEIN BUSINESSES
ZAPATA CORPORATION REPORTS FINANCIAL RESULTS
MUSTANG, TESORO MAKE NATURAL GAS DISCOVERY IN SOUTH TEXAS
MUSTANG, TESORO MAKE NATURAL GAS DISCOVERY IN SOUTH TEXAS
ZAPATA TO DIVEST CIMARRON GAS HOLDING COMPANY
Zapata Corporation Completes Sales of Remaining Oil and Gas Assets
Legend Natural Gas, LP Acquires South Texas Gas Reserves From Anadarko Petroleum Corporation.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters