-----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, QwSEKBqBKZodU2bTDe4RqfH86qKpmkWTJCJwDpR56kozelBwjcjieqztSvNddNtv JOCgK0RgrvbeS6i9AEzK1Q== 0000716039-04-000140.txt : 20040706 0000716039-04-000140.hdr.sgml : 20040705 20040706171506 ACCESSION NUMBER: 0000716039-04-000140 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040701 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040706 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: 1934 Act SEC FILE NUMBER: 001-08483 FILM NUMBER: 04902947 BUSINESS ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: STE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3107267600 MAIL ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: STE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 8-K 1 lucypre.txt OTHER EVENTS 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) July 1, 2004 ------------------------ 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. On July 1, 2004, Unocal Corporation announced by press release successful appraisal operations at its St. Malo discovery in the deepwater Gulf of Mexico. The full text of the press release is filed as an exhibit under Item 7 of this report. Item 7. Exhibits. 99. Press release, dated July 1, 2004, entitled "Unocal announces successful appraisal of St. Malo discovery in deepwater Gulf of Mexico". Signature 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: July 6, 2004 By: /S/ Joe D. Cecil ------------------ ------------------------------ Joe D. Cecil Vice President and Comptroller EX-99 2 lucyexh.txt PRESS RELEASE EXHIBIT 99 Unocal 2141 Rosecrans Avenue, Suite 4000 El Segundo, California 90245 [UNOCAL LOGO] NEWS RELEASE Contact: Barry Lane (Media) 310-726-7731 Robert Wright (Investors) 310-726-7665 Unocal announces successful appraisal of St. Malo discovery in deepwater Gulf of Mexico ------------------------------------------------- Sugar Land, Texas, July 1, 2004 - Unocal Corporation (NYSE: UCL) today said it has completed successful appraisal operations at the St. Malo hydrocarbon discovery in Walker Ridge block 678 in the Gulf of Mexico deepwater. The appraisal well encountered more than 400 net feet of oil pay at depths greater than were encountered in the earlier discovery well in 2003. The appraisal well results also indicate the field's potential hydrocarbon resources are greater than previously suggested by the discovery well. Unocal is currently evaluating the results of the extensive testing program that was conducted on the well. The evaluation will focus on productivity, potential further appraisal operations and the viability of development options, with the current objective of establishing commerciality in 2005. "Based on the quality of the test data and the increased rock volume, we intend to proceed with work to assess the potential productivity of the field and evaluate development options," said Mike Bell, Unocal's vice president for Gulf of Mexico exploration and appraisal. The original St. Malo discovery, announced in October 2003, encountered more than 450 net feet of oil pay. To appraise the St. Malo discovery, the company returned to the original Dana Point wildcat well, which was completed as a dry hole in early 2001. The St. Malo appraisal well drilled to 28,903 feet, approximately 2,000 feet deeper than the original Dana Point well. The St. Malo appraisal drilling began on May 4, 2004, and was completed in 57 days at a gross cost of $31 million. Redrilling on the Dana Point location saved Unocal and the other co-venturers an aggregate of approximately $25 million over the cost that would have been incurred by drilling a new well. The appraisal well is located in 7,036 feet of water, approximately 6,000 feet east of the discovery well. Unocal is the operator and holds a 28.75-percent working interest. Unocal's co-venturers in the St. Malo prospect are Petrobras (NYSE: PBR), 25 percent; Devon Energy Corporation (AMEX: DVN), 22.5 percent; ChevronTexaco Corporation (NYSE: CVX), 12.5 percent; EnCana Gulf of Mexico LLC (NYSE: ECA), 6.25 percent; ExxonMobil (NYSE: XOM), 3.75 percent; and Eni SpA (NYSE: E), 1.25 percent. Upon completion of the St. Malo appraisal well, the Discoverer Spirit will move on to the Sardinia prospect in Keathley Canyon 681. About Unocal Corporation Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's principal oil and gas activities are in North America and Asia. * * * * * This news release contains forward-looking statements about matters such as Unocal's assessment of the quality and extent of the St. Malo hydrocarbon formation, evaluation of the discovery test results, drilling and development plans for the Walker Ridge area, the timing of any commerciality of the St. Malo discovery, and operations of the Discoverer Spirit drillship. Although these statements are based upon Unocal's current expectations and beliefs, they are subject to both known and unknown risks and uncertainties that could cause actual results and outcomes to differ materially from those described in, or implied by, the forward-looking statements, including changes in commodity prices; the extent of the company's operating cash flow and other capital resources available to fund its capital expenditures; the rates and timing of any future production from the St. Malo formation, adverse geological and other operational factors; regulatory, political, and economic factors; performance by third parties and other risks and uncertainties discussed in Unocal's 2003 Annual Report on Form 10-K, as amended, and subsequent reports filed by Unocal with the Securities and Exchange Commission (SEC File No. 1-8483). Copies of the company's SEC filings are available from the company by calling 800-252-2233 or from the SEC by calling 800-SEC-0330. The reports are also available on the Unocal web site. Unocal undertakes no obligation to update the forward-looking statements in this news release to reflect future events or circumstances. ##### -----END PRIVACY-ENHANCED MESSAGE-----