SEAGULL TO ACQUIRE ARKLA EXPLORATION

Seagull Energy Corp., Houston, has agreed to acquire Arkla Exploration Inc. from Arkla Inc., Shreveport, La., for about $402 million. The transaction expected to net Seagull reserves totaling about 578 bcf of gas and 7.3 million bbl of oil and condensate would more than double Seagull's proved reserves and nearly double its total assets. According to Seagull's 1991 annual report, the company's reserves at yearend 1991 were estimated at 401.2 bcf of gas equivalent (bcfe), including

Nov 23rd, 1992
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