Poge's Purchase

A manager of Pogo Producing Co. said that Pogo Producing Co. announced to purchase the Northrock Resources in Canada of Unocal Corp by 1,800,000,000 U.S dollar.

It was a huge deal and decision for Pogo, because this Co. was only valued $3,300,000,000, and Pogo had to sell its assets in Thailand Hungary for this purchase.

The Chief Director of Pogo, Paul G. Van Wagenen said that this deal could make the cycle of petrol storing and exploitation of this Co., which had 35 year-history, up to 9.3 years.