-----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, OiHmKoKn3rKML+a/ku79iOeP7LogkrVG4pw3TxS/c03BaWR6h5/gRFcAaujm2bwW 2KTsAkYLBLun5fK6YAAqcg== 0000927356-98-001471.txt : 19980902 0000927356-98-001471.hdr.sgml : 19980902 ACCESSION NUMBER: 0000927356-98-001471 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980901 ITEM INFORMATION: FILED AS OF DATE: 19980901 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN GAS RESOURCES INC CENTRAL INDEX KEY: 0000856716 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 841127613 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10389 FILM NUMBER: 98702529 BUSINESS ADDRESS: STREET 1: 12200 N PECOS ST CITY: DENVER STATE: CO ZIP: 80234-3439 BUSINESS PHONE: 3034525603 MAIL ADDRESS: STREET 1: 12200 NORTH PECOS ST CITY: DENVER STATE: CO ZIP: 80234 8-K 1 FORM 8-K FOR PERIOD ENDING 09-01-1998 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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) September 1, 1998 ------------------- (September 1, 1998) WESTERN GAS RESOURCES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-10389 84-1127613 - ------------------------------- ----------- ------------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation) File Number) Identification No.) 12200 N. Pecos Street Denver, Colorado 80234-3439 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (303) 452-5603 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) No Changes - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report). ITEM 5. OTHER EVENTS. On September 1, 1998, the Company issued the following press release: September 1, 1998. Western Gas Resources, Inc. ("Western") (NYSE:WGR) ----------------- today announced that its agreement with RIS Resources (USA) Inc. ("RIS"), a U.S. subsidiary of RIS Resources International Corp. ("RIS International") (V.RIS), whereby RIS elected to exercise its option to purchase up to 50% of Western's interest in the Granger and Lincoln Road gathering and processing complex ("Granger Complex") in the Greater Green River Basin of southwest Wyoming has been modified and extended. RIS will purchase 40% of the Company's interest in the Granger Complex for $86.5 million. This portion of the transaction is expected to close on or about the end of the third quarter of 1998. As a component of RIS's financing, Western has entered into a letter of intent with RIS to purchase $14 million of 9.5% convertible preferred stock. The preferred stock will be issued by RIS and will be redeemable at RIS's option during the initial three years after issuance at varying premiums. If the preferred stock is not redeemed during the initial three year period, the preferred stock is convertible into shares of common stock of RIS International. Western will also have the opportunity to nominate a director of both RIS and RIS International. In addition, RIS has the option to purchase an additional 10% of the Company's interest in the Granger Complex for $18.5 million on or before September 30, 1999. Closing of the RIS transaction is subject to certain conditions and approvals, including approval of the Vancouver Stock Exchange. Pursuant to the agreement, Western will remain the operator of the Granger Complex. In the first quarter of 1998, RIS paid $1 million for the right to exercise its option on the Granger Complex. The RIS option was originally granted in connection with an agreement with Ultra Petroleum Corp. ("Ultra"), a RIS affiliate, to jointly develop, explore, gather and process natural gas reserves in the Jonah Field and other areas in the Hoback Basin. Under that agreement, Western, and Ultra as operator, are exploring and developing a minimum of 16 prospects within a 1.8 million acre area of mutual interest that will be dedicated to Western. Lanny Outlaw, President and Chief Operating Officer, commented, "We are very pleased to have the opportunity to establish a stock ownership interest in RIS. As well as having RIS as an industry partner in the Granger Complex, the stock ownership will increase the Company's position in southwest Wyoming and the Powder River Basin due to RIS' ownership in Ultra and Pennaco Energy Inc. The area of southwest Wyoming served by our Granger Complex, which includes the Jonah Field in the Hoback Basin, continues to experience significant drilling activity and production success." SIGNATURES 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. WESTERN GAS RESOURCES, INC. --------------------------- (Registrant) Date: September 1, 1998 By: /s/ WILLIAM J. KRYSIAK ------------------------ William J. Krysiak Vice President - Finance (Principal Financial and Accounting Officer) -----END PRIVACY-ENHANCED MESSAGE-----