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Texaco Plans to Shed High-Risk Properties

From Reuters

Texaco Inc. plans to sell about 3,000 oil and gas properties for $300 million to $600 million in an attempt to shift out of high-risk exploration and production activities, a senior executive said Wednesday.

The company sold 674 oil and gas properties for $199 million in 1988, Senior Vice President James Dunlap told an energy conference.


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