Fluor Corp. officials acknowledged that they are...

Fluor Corp. officials acknowledged that they are “testing the waters” to determine if they should proceed immediately with plans to sell the company’s drilling services and oil and gas subsidiaries.

Over the last two years the company, which has lost nearly $100 million in the past nine months, has been selling assets to bolster its finances and focus its attention on its engineering, construction and natural resources operations.

Since mid-1983, Fluor has received $935 million from such sales, a figure that does not include $340 million the company is scheduled to receive later this month from the sale of its headquarters in Irvine.

According to James Rollans, vice president of corporate communications, Fluor Oil and Gas and Fluor Drilling Services have assets worth a total of $469.6 million. However, that figure does not include any liabilities. Rollans would not divulge that figure, saying it could prejudice any sales negotiations.

Rollans said Fluor will decide if it wants to sell the two subsidiaries after evaluating the response it receives from its current overtures. “We want to see what we’d get,” Rollans said. “Then we’ll decide if we want to sell.”

Centennial Beneficial Corp. of Orange, acting through its Sacramento First National Bank subsidiary, has signed a definitive agreement to buy Sacramento Valley Bank in Sacramento from the Central Pacific Corp. of Bakersfield. The transaction requires approval from regulatory agencies and the shareholders of both corporations. Neither side would disclose the value of the deal, which Centennial Chairman John Joseph earlier estimated at between $3 million and $7 million. In addition to its majority ownership of Sacramento First National, Centennial Beneficial, with assets of about $300 million, is sole owner of a bank, a thrift and loan, a mortgage company and two consumer finance companies, all in Orange County.