Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Mesa's Gas Field Goes Begging


In Business This Week

MESA'S GAS FIELD GOES BEGGING

BOONE PICKENS' MESA HAS $1.2 billion of debt clogging up its books. It also has its rich Hugoton gas field in Kansas. Solution: Sell the field, settle the debt. Problem: No one will pay what Pickens wants. On June 12, Mesa announced it had received no acceptable offers; the highest was $750 million. Now, the company may divvy the property up to attract smaller buyers. It's also reviewing "other financing alternatives," such as debt restructuring. Mesa has enough cash to make debt payments of more than $210 million during the next year, but the squeeze looms in 1998, when $654 million is due.EDITED BY KEITH H. HAMMONDS


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus