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by The Times-Picayune Monday March 24, 2008, 2:11 PM
Taylor Energy Co. has completed a previously announced deal to sell its energy assets
to a Korean joint venture, the company said today.
The New Orleans energy firm, founded nearly 30 years ago by oilman Patrick Taylor,
will continue to operate its assets during a transition period that runs through June.
Beginning in July, a joint venture between Korea National Oil Corp. and Samsung Corp.
will take over the operation....
Up until now, Korea National Oil Corp.'s work in the United States has been limited to
interests in a handful of prospects being developed by other companies off the Texas
coast. Together with Samsung, the company hopes to use the Taylor assets to
pursue a North American expansion out of New Orleans. The Korean venture has
said that it intends to retain the more than 160 people Taylor employes.
Taylor completes deal to sell energy assets to Korean venture -
New Orleans Louisiana Local Finance News Articles - NOLA.com
Taylor Energy Co. has completed a previously announced deal to sell its energy assets
to a Korean joint venture, the company said today.
The New Orleans energy firm, founded nearly 30 years ago by oilman Patrick Taylor,
will continue to operate its assets during a transition period that runs through June.
Beginning in July, a joint venture between Korea National Oil Corp. and Samsung Corp.
will take over the operation....
Up until now, Korea National Oil Corp.'s work in the United States has been limited to
interests in a handful of prospects being developed by other companies off the Texas
coast. Together with Samsung, the company hopes to use the Taylor assets to
pursue a North American expansion out of New Orleans. The Korean venture has
said that it intends to retain the more than 160 people Taylor employes.
Taylor completes deal to sell energy assets to Korean venture -
New Orleans Louisiana Local Finance News Articles - NOLA.com