Who bought Burlington Resources stock?
Pennzoil Co., recently awarded $3 billion in a legal settlement with Texaco Inc., purchased eight percent of Burlington Resources' stock in February 1989, roughly one month after Burlington Resources became a separate company.
What did Burlington Resources spend its 1989 capital expenditures on?
In 1989, Burlington Resources spent $442 million on oil and gas capital expenditures; the following year, it spent $399 million to acquire all the producing properties of Unicon Producing Co., which amounted to more than 500 billion cubic feet of natural gas.
How many Burlington Stores are in the US?
The third-largest American off-price apparel and home fashion retail firm, with 761 stores as of the end of fiscal 2020, Burlington Stores offers an assortment of products from over 5,000 brands through an everyday low price approach that undercuts conventional retailers' regular prices by up to 60%.
Where are Burlington Resources'Oil and gas properties?
From its principal oil and natural gas properties located in the San Juan Basin in northwest New Mexico, the Willston Basin in North Dakota, the Permian Basin in Texas and New Mexico, and on the Gulf Coast of Texas and Louisiana, Burlington Resources stood poised to garner a substantial share of the country's future oil and natural gas market.
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Burlington Stores, Inc. Announces Fourth Quarter and Fiscal Year 2021 Earnings Release Date, Conference Call and Webcast
Did Hedge Funds Catch A Break With Burlington Stores Inc (BURL)?
BURLINGTON, N.J., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Burlington Stores, Inc. (NYSE: BURL), a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, will release its fourth quarter and fiscal year 2021 results before the U.S. stock market opens on Thursday, March 3, 2022.
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When did Burlington Resources invest in natural gas?
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How much did Burlington Resources spend on oil and gas?
As Burlington Resources became more entrenched in the oil and gas field, prognostications for the natural gas market improved significantly, at last justifying the company's investments during the 1980s.
What is Burlington Resources?
In 1989, Burlington Resources spent $442 million on oil and gas capital expenditures; the following year, it spent $399 million to acquire all the producing properties of Unicon Producing Co., which amounted to more than 500 billion cubic feet of natural gas.
What happened to natural gas in 1992?
Burlington Resources Inc., the nation's largest independent natural gas exploration and production company, functioned in the mid-1990s as a holding company for its main operating subsidiary, Meridian Oil Inc. Originally created as a holding company for all of Burlington Northern's non-railroad assets, Burlington Resources quickly emerged as a powerful, domestically oriented energy company. After divesting properties deemed incongruous with its core operations, Burlington Resources entered the mid-1990s as a growing energy concern sharply focused on the exploration, production, and marketing of oil and natural gas. From its principal oil and natural gas properties located in the San Juan Basin in northwest New Mexico, the Willston Basin in North Dakota, the Permian Basin in Texas and New Mexico, and on the Gulf Coast of Texas and Louisiana, Burlington Resources stood poised to garner a substantial share of the country's future oil and natural gas market.
How long has Burlington Northern been around?
In 1992, Hurricane Andrew caused the permanent loss of 600 million cubic feet of daily gas production from the Gulf of Mexico, but Burlington Resources was not the only natural gas concern adversely affected by the storm.
How many natural gas cars were built in the 1990s?
After nearly 130 years of existence, Burlington Northern, one of the pioneer railroad companies in the United States, had become many other things besides a railroad company.
How much was Glacier Park sold for?
The number of natural-gas-powered automobiles was expected to increase from 30,000 in the early 1990s to 3.8 million by the end of the decade, and by the mid-1990s the amount of natural gas consumed by new gas-powered electric power plants was expected to double.
