-----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, MpDuJ2qManK0UgftcLWKfvP7tzfLAvF26T2WBeqYS3LpUbVJbLs37zfWi+ysaR7v P2pQPDp07G8wU0tLr+xQJA== 0000716039-05-000063.txt : 20050510 0000716039-05-000063.hdr.sgml : 20050510 20050510112558 ACCESSION NUMBER: 0000716039-05-000063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050510 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050510 DATE AS OF CHANGE: 20050510 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: 0901 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08483 FILM NUMBER: 05814626 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 u8k051005.txt PROPOSED CANADA E&P SALE UNITED STATES 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) May 10, 2005 ------------------------ 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under the Securities Act |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act Item 8.01. Other Events. On May 10, 2005, Unocal Corporation announced that it intends to seek proposals to sell its Western Canadian exploration and production assets. The full text of the press release is filed as an exhibit under Item 9.01(c) of this report. Item 9.01. Financial Statements and Exhibits. (c) Exhibits. 99.1 Press Release dated May 10, 2005 entitled, "Unocal proposes to sell Western Canadian upstream assets." 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: May 10, 2005 By: /s/John A. Briffett - --------------------- ----------------------------------- John A. Briffett Vice President and Comptroller EX-99 2 exh99-1.txt PRESS RELEASE Exhibit 99.1 Unocal 2141 Rosecrans Avenue, Suite 4000 El Segundo, California 90245 [UNOCAL 76 LOGO] NEWS RELEASE Contact: Barry Lane (News media) 310-726-7731 Robert Wright (Investors) 310-726-7665 Unocal proposes to sell Western Canadian upstream assets -------------------------------------------------------- El Segundo, Calif., May 10, 2005 -- Unocal Corporation (NYSE: UCL) today said it intends to seek proposals from qualified prospective purchasers for the sale of its Northrock subsidiary's western Canada crude oil and natural gas exploration and production assets. These assets would not include the company's midstream and storage assets in Canada. Any sale would be subject to, among other things, approval by Unocal's board of directors. Unocal's western Canadian upstream producing properties are located in British Columbia, Alberta and Saskatchewan. The production from these properties in 1Q 2005, averaged 36,900 barrels of oil equivalent per day (BOED), including approximately 100 million cubic feet per day of natural gas and 20,000 barrels per day of oil and natural gas liquids (average net production after royalties in 1Q 2005 was 29,600 BOED). The majority of the production is from longer life, higher working interest, Unocal-operated fields. The company has retained CIBC World Markets Inc. and Waterous & Co. as its exclusive financial co-advisors. Confidential information is expected to be made available to qualified prospective purchasers in June. This confidential information will be available from the agents at: CIBC World Markets Inc. Waterous & Co. Brenda Mason, Managing Director Hilary Foulkes, Managing Director (403) 260-0507 (403) 261-4241 www.cibcwm.com\oilgasofferings www.waterous.com 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 Asia and North America. * * * * * This news release contains forward-looking statements about matters such as the potential sale of certain of Unocal's Canadian assets. Although these statements are based upon Unocal's current expectations and beliefs, they are subject to 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 market interest in these Canadian assets; volatility in commodity prices; approval by Unocal's Board of Directors; Unocal's ability to enter into an agreement for the sale of these assets on acceptable terms and the satisfaction of any conditions contained therein, including receipt of any required regulatory or other approvals; and other factors discussed in Unocal's 2004 Annual Report on Form 10-K and subsequent reports filed or furnished by Unocal with the U.S. Securities and Exchange Commission (SEC). Copies of Unocal's SEC filings are available from Unocal by calling 800-252-2233 or from the SEC by calling 800-SEC-0330. The reports are also available on the Unocal web site, www.unocal.com. Unocal undertakes no obligation to update the forward-looking statements in this news release to reflect future events or circumstances. All such statements are expressly qualified by this cautionary statement, which is provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. -----END PRIVACY-ENHANCED MESSAGE-----