-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MMlfdoWQrzHf5Y9IDGI/AL2yWed+FzpXxfKSeGFZBvE8xsFb6pN51USSjk+B4pi2 EflhynNcRg8/CbqlP9kJYQ== 0000716039-99-000016.txt : 19990419 0000716039-99-000016.hdr.sgml : 19990419 ACCESSION NUMBER: 0000716039-99-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990415 ITEM INFORMATION: FILED AS OF DATE: 19990416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNOCAL CORP CENTRAL INDEX KEY: 0000716039 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 953825062 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08483 FILM NUMBER: 99595637 BUSINESS ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: STE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3107267600 8-K 1 NORTHROCK RESOURCES PURCHASE SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 15, 1999 ------------------------ UNOCAL CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 1-8483 95-3825062 - -------------------------------------------------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 2141 Rosecrans Avenue, Suite 4000, El Segundo, California 90245 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (310) 726-7600 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Item 5. Other Events. Unocal Corporation's Unocal Canada Resources (Unocal Canada) subsidiary has signed a definitive agreement to invest up to C$265 million (US$175 million) to acquire up to 46 percent of Calgary-based Northrock Resources Ltd (Northrock). Unocal's Chairman and Chief Executive Officer Roger C. Beach said, "The addition of the Northrock interest is a key element of our North American gas strategy." Under the agreement, Unocal Canada proposes to make a partial tender offer to Northrock's shareholders which, if successful, would result in Unocal Canada acquiring approximately 10 million shares of Northrock common stock at C$14 per share, representing approximately 32 percent of all outstanding shares. Northrock's board has agreed to support Unocal Canada's tender offer and recommend acceptance by Northrock's shareholders. The tender offer will include a condition that Unocal Canada obtain at least 6.9 million shares of Northrock common stock. If Unocal's tender offer is successful, Unocal Canada will acquire approximately 7.6 million additional shares of Northrock common stock at C$16 per share under a private placement, increasing Unocal Canada's interest in Northrock to as much as 46 percent. As part of the agreement, Northrock has the right, until Dec. 31, 1999, to require that Unocal purchase additional common shares from Northrock's treasury at a price of C$15 per share, up to a maximum ownership level to 49.9 percent. Unocal Canada's obligations under the agreement are subject to regulatory approvals and certain other conditions. The transaction is expected to be completed by mid-May. Northrock has also agreed to pay Unocal Canada a non-completion fee in certain circumstances in the event that the proposed acquisition of Northrock shares by Unocal Canada is unsuccessful. In March 1999, Northrock reported current average daily gross production of 160 million cubic feet of gas and 11,000 barrels of crude oil and natural gas liquids. Unocal estimates Northrock had net proved reserves of approximately 35 million barrels of crude oil and liquids and 363 billion cubic feet of gas at March 31, 1999. Forward-looking statements regarding exploration activities and resource potential in this filing are based on assumptions concerning market, competitive, regulatory, environmental, operational and other considerations. Actual results could differ materially as a result of factors discussed in Unocal's 1998 Form 10-K report filed with the Securities and Exchange Commission. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. UNOCAL CORPORATION (Registrant) Date: April 15, 1999 By: /s/ JOE D. CECIL - ------------------------ ------------------------------------ Joe D. Cecil Vice President and Comptroller -----END PRIVACY-ENHANCED MESSAGE-----