• BP Amoco Plc, London, is buying a significant part of Repsol-YPF's holding in Crescendo Resources LP, Amarillo, Texas, for $500 million. Crescendo's daily production is about 235 million cu. ft. of gas and 25,000 bbl. of gas liquids in the Texas panhandle and western Oklahoma area of the Anadarko Basin. It has proved gas reserves of about 1.2 trillion cu. ft. Other assets include 5,500 wells, a 2,200-mile gathering system and two gas processing plants with a capacity of 230 million cu. ft. of gas per day. After the transaction, BP Amoco will produce approximately 180 million cu. ft. per day from the Anadarko Basin, as well as add about 15,000 bbl. per day of liquids production to its current numbers. Its worldwide gas production currently stands at more than 5.9 billion cu. ft. per day compared with 5.3 billion cu. ft. per day a year ago. Crescendo is held 41% by BP Amoco and 59% by Repsol-YPF. Repsol-YPF expected to place its remaining stake in Crescendo on the market, with the assistance of Petrie Parkman & Co. • Burlington Resources Inc., Houston, has acquired Poco Petroleums Ltd., Calgary, for 0.25 Burlington share per share of Poco. The Burlington shares are Canadian securities with the same voting rights, dividend entitlements and other attributes of U.S. Burlington shares. They are trading on the Toronto Stock Exchange as BRX. Poco is operating as the Canadian division of BR North America. Terry McCoy, Poco vice president of exploration, has been named a vice president of Burlington Resources Oil & Gas Co. and will head the Canadian business unit. • Occidental Petroleum Corp., Tulsa, is purchasing Arco Long Beach Inc., a subsidiary of Atlantic Richfield Co., Los Angeles. Terms were not disclosed. Arco Long Beach produces about 30,000 bbl. of oil per day net, and at the end of 1998 had net reserves totaling 88 million bbl. • 3Tec Energy Corp., formerly Middle Bay Oil Co. Inc., Houston, has acquired properties and interests in Texas and Louisiana owned by a group of private sellers and managed by Floyd Oil Co. for $87 million in cash and 1.5 million shares of Middle Bay common stock. The acquired assets produce approximately 28 million cu. ft. of gas and 2,300 bbl. of oil per day. Middle Bay will operate the majority of the properties. The deal triples Middle Bay's total proved reserves, to 252 billion cu. ft. of gas equivalent. After the acquisition, Middle Bay will produce about 38 million cu. ft. and 3,300 bbl. of oil per day. The company's stock symbol has changed, with its name, to TTEN. • Beta Oil & Gas Inc., Newport Beach, Calif., is acquiring Red River Energy Inc., a privately held Tulsa independent producer, for $23.5 million. Beta will issue 2.25 million new common shares and assume approximately $7.6 million of Red River debt. Red River properties contain estimated proved producing recoverable reserves totaling 22.5 billion cu. ft. of gas and 504,000 bbl. of oil. Upon completion of the deal, Beta will have interests in more than 120 wells in four states-primarily Texas, Louisiana and Oklahoma-and operate more than 90% of them. • The Oil & Gas Asset Clearinghouse Inc. sold 323 lots at its October auction for approximately $14.3 million, total. The properties consisted of more than 2,000 wells. Aydeco Energy sold its Bay Marchand Block 5 in Lafourche Parish, La., for $818,000; Anadarko Petroleum, its Pavillion Field in Fremont County, Wyo., for $950,000, Fisher Nola Unit in Andrews County, Texas, for $2.2 million, and Briscoe Field in Hemphill County, Texas, for $1.175 million; Burlington Resources, its Nine Mile Draw Field in Reeves County, Texas, for $400,000; and BP Amoco, its Big Escambia Creek Field in Escambia County, Ala., for $200,000. • Maynard Oil Co., Dallas, has acquired producing properties in southeastern New Mexico and West Texas from Questar Exploration & Production Co., a subsidiary of Questar Corp., Salt Lake City, for $32 million. The purchase includes interest in 170 properties with estimated production of 1,000 bbl. of oil and 3 million cu. ft. of gas per day, net. • Tipperary Corp., Denver, intends to sell all of its U.S. oil and gas properties, as it changes it focus to coalbed methane production. Hanifen, Imhoff Inc., Denver, is acting as exclusive financial advisor in connection with the divestitures. The company's U.S. proved reserves had a pretax value, on Sept. 30, of $25 million. The properties are primarily in the Rocky Mountain region and the Permian Basin of West Texas and southeast New Mexico. • PanCanadian Resources, a wholly owned subsidiary of PanCanadian Petroleum Ltd., Weyburn, Sask., has sold noncore properties to Argonauts Group Ltd., for C$14.5 million in cash and 2.5 million common shares of Argonauts. The divested properties are in the Thorsby and Red Willow areas of central Alberta, and produce about 450 bbl. per day of medium oil. • Renaissance Energy Ltd., Calgary, has sold a producing gas property in Alberta's McLeod River area for C$61.1 million. The property was part of the company's acquisition of Pinnacle Resources Ltd. and was considered nonstrategic. • Bellwether Exploration Co., Houston, established a new core area with a $7.25-million purchase of interests in five operated wells and 229 nonoperated wells in southeastern New Mexico from Matrix Energy LLC. The assets include 1.1 million cu. ft. of gas equivalent per day of production net to the acquired interests from working interests ranging up to 100%. Proved reserves total an estimated 1.4 million BOE. Bellwether will finance the purchase from its bank credit facility. The properties include 22 proven undeveloped locations and another 20 potential drilling locations. Bellwether will operate a majority of the wells and intends to commence its development program this month. • El Paso Energy Corp., Houston, has acquired Crystal Gas Storage Inc., Shreveport, La., for $57 per share. Crystal's assets include interests in gas properties in northern Louisiana and southern Arkansas, including 31 wells with 39 billion cu. ft. of gas equivalent in proven reserves. • Berkley Petroleum Corp., Calgary, plans to purchase Symmetry Resources Inc. for 0.081 share of Berkley per share of Symmetry, or approximately C$1.05 per Symmetry share-a 25% premium to Symmetry's closing price on Nov. 26. Nesbitt Burns Inc. and Salman Partners Inc. are advising Berkley, while National Bank Financial Corp. is advising Symmetry. • Redstone Oil & Gas Co. of Houston plans to divest substantially all of its assets, which are in the Anadarko Basin, the Permian Basin and the East Texas/Arkoma area and include 226 properties, of which 104 are operated. The properties currently produce approximately 251 bbl. of oil and 7.1 million cu. ft. of gas per day, net. Madison Energy Advisors Inc., Houston, is assisting Redstone in the sale. • Southern Mineral Corp., Houston, has retained FirstEnergy Capital Corp. of Calgary to advise it as it seeks strategic alternatives for its Canadian subsidiary, Neutrino Resources Inc. Possible alternatives include asset divestitures, joint ventures or alliances, a sale or merger. • Toreador Royalty Corp., Dallas, plans to acquire 50% of Lario Oil & Gas Co.'s interest in multiple producing fields located in Finney County, Kan., for $5.5 million. Most of the properties are in the Amazon Ditch and Terry fields. The acquisition will add approximately 1 million BOE to the company's total net proved reserves. • Adair International Oil &Gas Inc., Houston, is acquiring Partners In Exploration Inc., Dallas, making Adair the sole owner in exploration Block 20 in Yemen, which was recently jointly signed by Adair and Partners In Exploration. • Anthian Resource Corp., Vancouver, has divested 50% of its 10% interest in a 5,133-acre prospect in Kern County, Calif., through an assignment agreement with Braiden Resources Corp. for US$55,000. • Arlington Ventures Ltd. and its wholly owned subsidiary, Golden Exploration & Production Corp., have agreed to acquire all of Temblor Petroleum Co. LLC's wells, leaseholds and related assets in Fresno County, Calif. In consideration, Arlington will assume US$4.1 million in debt plus accrued interest owed by Temblor to Energy Income Fund LP, and issue a to-be-determined number of its common shares to Temblor. • Caspian Energy International Inc. and Puma Energy Inc., both of Dallas, are considering merging. Puma would be the surviving entity and would maintain the Puma symbol on the OTC Bulletin Board. • Daugherty Resources Inc., a subsidiary of Daugherty Petroleum, Lexington, Ky., has bought properties from Environmental Energy Inc. and its affiliated limited partnerships based in Irvine, Calif., that include interests in 37 Appalachian Basin wells in Kentucky and Tennessee, three gas wells in Louisiana, and several miles of gas pipelines and facilities located in Scott and Morgan counties, Tenn. Separately, Daugherty plans to acquire a 50% working interest in 24 gas wells in Knox County, Ky., from Ken-Tex Oil and Gas, for $425,000 in restricted common stock, valued at $2.22 per share. Assets consist of 1.2 billion cu. ft. of gas reserves, of which approximately 700 million cu. ft. are considered proved developed. Daugherty will operate all of the properties. • Delta Petroleum Corp., Denver, plans to acquire interests in 24 wells and associated acreage in Colorado, Oklahoma, Michigan, Louisiana, Texas and New Mexico for $2.9 million. Recoverable producing reserves on the properties are 2.7 billion cu. ft. of gas and 355,000 bbl. of oil. Further details were not disclosed. In addition, Delta has purchased interests in 11 producing wells and associated acreage in New Mexico and Texas from Whiting Petroleum Corp. for $2.9 million. The properties are estimated to hold recoverable producing reserves of approximately 3.3 billion cu. ft. of gas and 94,000 bbl. of oil. Also, Delta is exchanging certain Midcontinent properties, which Delta had previously agreed to acquire, with Kaiser-Francis Oil Co. for a 4.5-year loan for up to $8 million. Delta will also issue warrants to Kaiser-Francis to purchase 250,000 shares of Delta at $2 per share for five years. Delta plans to use proceeds to retire existing loans and fund its acquisition of interests in the Point Arguello and Rocky Point units, offshore Santa Barbara, Calif., from Whiting, in a separate deal. The California properties, and those acquired from Whiting in New Mexico and Texas, will be used as collateral for the loan. • First Energy Corp., Akron, Ohio, has bought Volunteer Energy LLC, a natural gas subsidiary of Williams Cos. Inc., Tulsa. Terms were not disclosed. • Hallwood Energy Corp., Denver, has acquired properties located principally in the Yoakum Gorge area of Lavaca County, Texas, for $7.3 million and a future, contingent consideration. The acquired interests include 34 wells having 4.5 million cu. ft. per day of current net production and 3.5 billion cu. ft. of proved reserves. The acquisition also includes significant nonproducing reserves and gives Hallwood additional holdings in the South Texas Lower Wilcox play, which is operated by Louis Dreyfus Natural Gas Corp., Oklahoma City. • PrimeEnergy Corp., Stamford, Conn., has acquired additional interests in approximately 131 wells and related assets in Oklahoma from an undisclosed seller for an initial payment of $1.8 million. Additional compensation depends on the performance of the properties. PrimeEnergy already owns an interest in and operates a majority of the properties that have been purchased. • The Prospective Investment & Trading Co. Ltd., a privately held Tulsa-based oil and gas company, has purchased interests in approximately 203 properties-137 of which are operated-in Louisiana, Mississippi, Montana, New Mexico, North Dakota, Oklahoma and Texas. The deal adds 1,400 bbl. of oil and 7.2 million cu. ft. of gas to the company's net daily production. Pitco drew on its Bank of Oklahoma and Bank One credit facilities to fund the acquisitions. • Samson Offshore Co., Houston, a subsidiary of Samson Investment Co. of Tulsa, has purchased more than 81,800 net leasehold acres in the Gulf of Mexico covering 30 blocks off the Texas and Louisiana coasts, from Barrett Resources Corp. Samson is operator on 12 of the blocks. • Richland Petroleum Corp., Calgary, and Moxie Petroleum Ltd. are merging for 0.18 share of Richland, C$1.135 in cash and 0.7 share of a new company that is to be formed, per share of Moxie. Moxie prepaid flow-through warrantholders will receive C$0.587 cash, 0.093 share of Richland and 0.362 share of the new company per warrant. Moxie has been provided a fairness opinion by Jennings Capital Inc., and Griffiths McBurney & Partners has advised Richland. • Privately held Sapient Energy Corp., Tulsa, has acquired properties in the Panhandle area of Oklahoma and Texas from an undisclosed seller, including 120 wells, 80 of which are operated. The properties are producing 2.6 million cu. ft. of gas and 70 bbl. of oil per day, net to Sapient. The company financed the purchase with its First Union National Bank credit facility . • Soho Resources Corp. has purchased a 43% interest in the Wolverine West 1 prospect in the Williston Basin near Minot, N.D., from Huntford Resources Corp. of Colorado. The prospect is located immediately southwest of the 21-million-barrel Glenburn oil field. Recoverable oil is estimated at 3.6 million bbl.