Taylor Energy Co. is being sold to joint venture

MikeyF

True Dat
VIP Contributor
Joined
Jan 8, 1998
Messages
1,677
Ratings
248
Location
Walker, LA
Offline
Korea National Oil, Samsung to buy firm
Friday, February 01, 2008By Kimberly Quillen

Taylor Energy Co., one of the largest privately owned oil and gas companies operating
in the Gulf of Mexico, has agreed to sell all its energy assets to a joint venture between
Korea National Oil Corp. and Samsung Corp.

"This is the largest investment ever made by Koreans in the U.S.," said H.E. Lee
Tai-sik, Korean ambassador to the United States.

The deal, signed Thursday night at the Windsor Court by executives from the
three companies, paves the way for the Korean venture to pursue an ambitious
North American expansion out of New Orleans.
At the same time, it essentially
closes the energy operation founded by Patrick Taylor, the rugged and plainspoken
oilman who became a powerful advocate of Louisiana's state-financed college tuition
program.

http://www.nola.com/business/t-p/index.ssf?/base/money-1/120184696477170.xml&coll=1
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.




Saints Headlines (The Advocate)

Headlines

Top Bottom