News Releases: 200120001999199819971996

Unocal news releases are archived on this web site for historical purposes. While the information in the releases was accurate at the time of release, information regarding the matters discussed in the releases, including material information, changes over time. Information in a release may, therefore, no longer be accurate or in effect after the date of the release, and Unocal undertakes no duty to update such information.
Dec 1998
12/31/98Spirit Energy 76 completes sale of Oklahoma oil and gas assets to Magnum Hunter
12/28/98International consortium selected for LNG project in India
12/21/98Unocal sees lower 1999 capital spending; targets up to $200 million
in annual cash expenses cuts
12/17/98Unocal agrees to sell interest in Alliance Pipeline Project
12/16/98Planned sale of Spirit Energy 76's Michigan oil and gas assets terminated
12/15/98Unocal statement on Burma selective purchasing ordinance by the City of Los Angeles
12/10/98Basin reports discovery on West Cameron 278
12/10/98Unocal statement on withdrawal from the proposed Central Asia
Gas (CentGas) pipeline project
12/9/98New Unocal gasoline patent could have broader application for U.S. refiners
12/7/98Unocal declares regular quarterly dividend
12/7/98Unocal appoints James Crownover, Donald Rice to company board of directors
Nov 1998
11/25/98Spirit Energy 76 reaches definitive agreement on sale of Oklahoma oil and gas assets
11/24/98Unocal begins demolition phase of Avila Beach cleanup project
11/20/98Unocal builds on low-cost exploration, current infrastructure with new contract areas offshore Indonesia
11/16/98International oil and gas companies donate US$1 million for Bangladesh
flood rehabilitation
11/12/98French/U.S. group signs production-sharing contracts in two deepwater blocks
offshore Gabon
11/11/98Unocal to cut 1999 capital, cash expenses to counter continued low commodity prices
11/11/98Unocal discovers new gas field in Gulf of Thailand
11/5/98Unocal Canada to expand capacity of Aitken Creek gas storage facility
Oct 1998
10/27/98Unocal reports third quarter earnings
10/27/98Unocal Global Trade, Public Energy Authority of Kentucky sign $120 million,
10-year natural gas deal
10/26/98Unocal wells extend significant Seno resource offshore Indonesia; development approaches proposed
10/22/98Molycorp looks for major cost cuts in face of slumping molybdenum price
10/20/98Molycorp achieves 1,000-day safety benchmark at Mountain Pass
10/5/98Texas court dismisses lawsuit against Unocal; judge says no cause of action by Bridas
10/2/98Spirit Energy 76 reaches definitive agreement on sale of Michigan oil and gas assets
Sept 1998
9/29/98Unocal committed to long-term growth despite depressed commodity prices;
sees lower third quarter earnings
9/28/98Unocal declares regular quarterly dividend
9/28/98Unocal extends offshore Vietnam exploration acreage
9/24/98Unocal Thailand confirms commerciality of Pakarang gas field
9/10/98Unocal produces 1,500 barrels of oil per day from new McArthur River horizontal well
9/9/98Molycorp earns international environmental management system registration
August 1998
8/31/98Court rules Unocal RFG patent application was proper; company to seek royalties
8/26/98Spirit Energy 76 significantly expands Gulf of Mexico shelf and deepwater portfolio in 77 new federal lease blocks
8/25/98Unocal gives to CARE: Indonesian crisis is the focus of new gifts
8/24/98Unocal deepwater Indonesia discovery tests 10,069 barrels of oil per day
8/21/98Unocal Statement: Suspension of activities related to proposed natural gas pipeline across Afghanistan
8/19/98PTT, Unocal sign condensate sales pact, help cut Thailand's oil imports
8/17/98Unocal, Mobil discover second new deepwater oil and gas field offshore Indonesia; additional drilling planned
July 1998
7/28/98Unocal reports 2Q 1998 earnings; cost controls, financial strength help company to weather low oil prices
7/21/98Unocal, California agencies reach settlement on Guadalupe civil suit; funds earmarked for local environmental projects
7/15/98Spirit Energy 76 participates in deepwater discovery; first well on Leo prospect finds 200' of pay
7/14/98Unocal sees strong growth from international projects and prospects, analysts told
June 1998
6/18/98Unocal says expected costs for Avila Beach remediation project adequately reserved
6/17/98Unocal reports $3.4 million shortfall for Indonesian March steam deliveries
6/16/98Unocal, government agencies, environmental groups reach settlement on Avila Beach cleanup
6/3/98Unocal reviews restructuring options for non-E&P operating business units
6/1/98Spirit Energy 76 triples exploratory discoveries
6/1/98Unocal stockholders elect directors, approve new premium option plan for senior officers
6/1/98Unocal declares regular quarterly dividend
6/1/98Unocal discovers new oil play in deepwater area offshore Indonesia
May 1998
5/29/98Spirit Energy 76 to acquire 25% interest in deepwater Mad Dog prospect
5/27/98Los Angeles Times article on Central Asia uses innuendo and errors to cast suspicion on Unocal
5/21/98Canadian Forest Ltd. acquires Unocal Canada Limited Northwest Territories interests
5/15/98Unocal takes steps to ensure safety of Jakarta-based personnel; operations remain unaffected
April 1998
4/29/98Unocal sets gas delivery record in Thailand
4/28/98Unocal reports 1Q 1998 earnings; higher oil and gas production levels forecast
4/20/98Unocal capital spending forecast shows $150-$200 million
reduction from original plan
4/16/98Spirit Energy 76 acquires additional interest in Van Field units; production increases
4/15/98Unocal Canada completes exchange of assets for Tarragon common stock and debenture
March 1998
3/30/98Unocal declares regular quarterly dividend
3/25/98Unocal establishes $1 million international petroleum studies fellowship at Colorado School of Mines
3/19/98Unocal mulls cuts in short-term capital projects; no impact on high value exploration, growth programs
3/18/98Spirit Energy 76 is high bidder for interests in 28 Gulf of Mexico blocks
3/16/98Unocal wells expand deepwater Merah Besar oil and gas resource offshore Indonesia
3/12/98Unocal pledges $1.5 million in grants to support major educational initiatives in Thailand, United States
February 1998
2/26/98Unocal unit signs farm-in agreement for Argentina onshore oil exploration block
2/25/98Unocal replaces 101% of 1997 oil, gas production 'through the drill bit'
2/24/98Unocal acquires new Ganal production-sharing contract in East Kalimantan
2/13/98Unocal Canada to exchange oil and gas assets for Tarragon common stock and debentures
2/10/98Unocal Global Trade reports increased revenues and earnings, continued high margins from oil and gas trading in 1997

January 1998
1/28/98Unocal posts 4Q 1997 earnings; company expects further oil and gas production increases
1/28/98Unocal deepwater well in Indonesia tests 9,430 barrels of oil per day
1/27/98Spirit Energy 76 sees production turnaround from aggressive Gulf region exploration program
1/26/98Unocal extends stock repurchase program
1/22/98Spirit Energy 76 and Amoco Production Company enter joint venture in Cotton Valley Reef
1/21/98Spirit Energy 76 makes gas discoveries in Bobcat Run field, Texas
1/20/98Unocal's Spirit Energy 76 secures deepwater rig contract
1/16/98Unocal's Spirit Energy 76 unit close to contract on deepwater drillship for Gulf of Mexico exploration program
1/14/98Unocal increases stake in Alliance pipeline project
1/13/98Spirit Energy 76 makes twelve oil discoveries in Van Zandt County, Texas
1/9/98Unocal ammonia ship, SS Cornucopia, rescues three North Korean fishermen

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