-----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, PpEbBQUsomxd6THpd8tlgkh8E5VhT9z/Vsmt7T/MpoLj5opPfVBJq6USJjRMt1Uv iNf5UQhmqWziky97iLTxZQ== 0000899243-00-000943.txt : 20000426 0000899243-00-000943.hdr.sgml : 20000426 ACCESSION NUMBER: 0000899243-00-000943 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000414 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 3TEC ENERGY CORP CENTRAL INDEX KEY: 0000903267 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 631081013 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14745 FILM NUMBER: 608314 BUSINESS ADDRESS: STREET 1: TWO SHELL PLZ STREET 2: 777 WALKER STE 2400 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7132226275 MAIL ADDRESS: STREET 1: PO BOX 390 CITY: MOBILE STATE: AL ZIP: 36602 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE BAY OIL CO INC DATE OF NAME CHANGE: 19930504 8-K 1 FORM 8-K 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): APRIL 14, 2000 3TEC ENERGY CORPORATION (Exact name of Registrant as specified in its charter) DELAWARE 0-21702 76-0624573 - ------------------------------- ---------------- ------------------- (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) Two Shell Plaza, 777 Walker, Suite 2400, Houston, Texas 77002 (Address of principal executive offices and zip code) (713) 821-7100 Registrant's telephone number, including area code ITEM 5 - OTHER EVENTS 3TEC Energy Corporation ("3TEC") announced April 18, 2000, that it has entered into an agreement to acquire properties located in the Glenwood and White Oak fields in Gregg and Upshur Counties, Texas from an undisclosed private seller. 3TEC will pay $55 million in cash for the acquisition. The transaction has an effective date of January 1, 2000 and is expected to be closed on or before May 31, 2000. The April 18, 2000 press release is filed herewith as Exhibit 99.1, and is incorporated herein by reference. ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. The following exhibits are filed herewith: 99.1 Press Release issued by the Registrant on April 18, 2000 SIGNATURES In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 3TEC Energy Corporation (Registrant) Date: April 25, 2000 By: /s/ Stephen W. Herod ------------------------------------ Stephen W. Herod Executive Vice President and Chief Financial Officer INDEX TO EXHIBITS 99.1 Press Release dated April 18, 2000. EX-99.1 2 PRESS RELEASE Exhibit 99.1 P R E S S R E L E A S E FOR IMMEDIATE RELEASE For further information contact: Steve W. Herod 713/821-7102 sherod@3tecenergy.com 3TEC ENERGY CORPORATION ANNOUNCES SIGNIFICANT EAST TEXAS PROPERTY ACQUISITION HOUSTON, TEXAS, APRIL 18, 2000... 3TEC Energy Corporation ("3TEC") (NASDAQ SmallCap: TTEN) announced today 3TEC has entered into an agreement for the acquisition of properties located in East Texas from an undisclosed private seller. The acquisition has a purchase price of $55 million payable in cash and is subject to customary closing conditions and adjustments. The properties are located in the Glenwood and White Oak fields in Gregg and Upshur Counties, Texas and produce from the Cotton Valley formation. As of March 31, 2000, the properties being acquired had estimated total net proved reserves of 69.2 Bcfe with a PV 10 value of $77 million, using constant pricing of $2.82 per Mcf for gas and $26.28 for oil. The estimated reserves are 92% gas on an equivalent basis. Current net daily production from the properties is approximately 9.6 MMcf of gas and 144 Bbls. of oil. Approximately 53% of the reserves are classified as proved producing. 3TEC has identified over 100 proved undeveloped locations and plans an active drilling program on the properties. The transaction has an effective date of January 1, 2000 and closing is expected to be on or before May 31, 2000. HP Associates represented the seller in this transaction. On a pro-forma basis, this acquisition will increase 3TEC's total proved reserves as of March 31, 2000 to 308 Bcfe and increase daily production to 52 Mmcf of gas and 3,400 Bbls. of oil. 3TEC Energy Corporation is engaged in the acquisition, development, production and exploration of oil and natural gas, with properties geographically concentrated in East Texas and the Gulf Coast regions. 3TEC also owns significant properties in the Permian and San Juan basins and in the Mid- Continent region. The information contained in this press release may contain projections, estimates and other forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those included in the forward looking statements include the timing and extent of changes in commodity prices for oil and gas, environmental risks, drilling, producing and operating risks, risks related to exploration and development, uncertainties about the estimates of reserves, government regulation, competition and the ability of the Company to meet its stated business goals. -----END PRIVACY-ENHANCED MESSAGE-----