OTHER NEWS - March 17, 1992
From Times Staff and Wire Reports
Oxy to Sell Last of Liquid Natural Gas Business: Los Angeles-based Occidental Petroleum Corp. announced that it is selling its interest in Trident NGL Inc. in connection with an initial public offering of common stock by Trident. Trident will sell 6.5 million shares while Oxy will sell 9 million shares, with an initial offering range of $18 to $20 per share. The move will complete divestiture of Oxy’s domestic liquid natural gas business, part of the company’s larger plan to scale back to its core enterprises. Last week, the company announced completion--a year in advance of its own deadline--of the major elements of that cutback.
