| Blazer Energy Corporation | |||
| Proposed Ticker: | - | 14701 St. Mary's Lane, Suite 200 | |
| Exchange: | New York Stock Exchange | Houston, TX 77079 | |
| Industry: | Natural Resources (SIC Code 1311) | (281) 531-2900 | |
| Type of Shares: | Common Shares | Filing Date: | 3/5/97 | |
| U.S. Shares Filed: | 3,100,000 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $85,000,000 | |
| Primary Shares: | 3,100,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: | 17,500,000 | |
| Spin out parent firm: | Ashland, Inc. | |||
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Issuer's Law Firm: | Vinson & Elkins |
| Bank's Law Firm: | Cravath, Swaine & Moore |
| Auditor: | Ernst & Young |
| Registrar/Transfer Agent: | Harris Trust & Savings Bank |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 12/31/96 | 12/31/95 | 12/31/96 | ||
| Revenue: | $304.07 | $73.27 | $127.18 | Assets: | $533.21 |
| Net Income: | $75.36 | $6.31 | $55.20 | Curr Assets: | |
| EPS: | Liabilities: | $173.81 | |||
| Prior EPS: | -$4.38 | $29.03 | Curr Liabilities: | ||
| Cash Flow/Oper: | $112.91 | Equity: | $359.40 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is an independent energy company engaged in the exploration for and the development, production, acquisition and marketing of natural gas and oil in the United States and in Nigeria. The company is currently a wholly-owned subsidiary of Ashland Inc. The company has been active in the natural gas and oil business in the United States for over 80 years and in Nigeria for over 20 years. In the United States, the company's production is concentrated in the Appalachian Basin and in the Gulf of Mexico. Internationally, the company operates both onshore and offshore Nigeria in the deltaic region of the Niger River. All of the company's natural gas production comes from the United States, while substantially all of its crude oil production comes from Nigeria. The company also owns mineral royalty interests in oil and gas properties throughout the United States. The company intends to continue its reserve and production growth in the Appalachian Basin and to accelerate such growth in the Gulf of Mexico and Nigeria. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of previously declared dividends to Ashland Oil. |