| Ticker: THX | 1331 Lamar, Suite 1065 | |
| Exchange: New York Stock Exchange | Houston, Texas 77010 | |
| Industry: Natural Resources | (713) 652-2847 |
| Type of Shares: | Common Shares | Filing Date: | 5/24/96 | |
| U.S. Shares: | 6,200,000 | Offer Date: | 9/19/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 6,200,000 | Offer Price: | $15.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.09 | |
| Offering Amount: | $86,800,000 | Selling: | $0.65 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 22,402,763 | |||
| Spin out parent firm: | Brooklyn Union Gas Company, The | |||
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-1172 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $41.21 | $21.79 | $21.15 | Assets: | $263.84 |
| Net Income: | -$0.30 | $2.79 | $3.03 | Liabilities: | $147.52 |
| EPS: | $0.00 | $0.18 | $0.20 | Equity: | $116.32 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an independent natural gas and oil company engaged in the exploration, development and acquisition of domestic natural gas and oil properties. The company's offshore properties are located in the shallow waters of the Gulf of Mexico, and its onshore properties are located in the Arkoma Basin, East Texas and West Virginia. The company has grown its Gulf of Mexico reserves and production through exploratory drilling and subsequent development expertise. The company has grown its onshore reserves and production through successful acquisitions and subsequent exploitation and development of low risk, long-lived reserves. The company believes that these lower risk projects and the stable production from its longer-lived onshore properties complement its high potential exploratory prospects in the Gulf of Mexico by balancing risk and reducing volatility. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding indebtedness under the company's credit facility and to pay the cash portion of the purchase price for the Soxco acquisition. |
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