UNION OIL CO., Los Angeles, agreed to purchase 100% of Prairie Holding Co., Houston, an oil and gas subsidiary of Placer Dome Inc. Union will pay $252 million cash and assume $84 million in debt. TEXAS SUPREME COURT ruled an appeal by Arabian Shield Development Co., Dallas, in a $1 billion lawsuit against Hunt Oil Co., was timely filed. It remanded the case, involving a dispute over rights to productive acreage in North Yemen, to the Texas Court of Appeals.

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