Texaco Plans to Shed High-Risk Properties
From Reuters
NEW ORLEANS — Texaco Inc. plans to sell about 3,000 oil and gas properties for $300 million to $600 million in an attempt to shift out of high-risk exploration and production activities, a senior executive said Wednesday.
The company sold 674 oil and gas properties for $199 million in 1988, Senior Vice President James Dunlap told an energy conference.
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