Dominion Energy Completes Acquisition of Remington
Energy
RICHMOND, Va. -- Dominion Energy Inc. announced late yesterday
that it has completed its purchase of all of the issued and outstanding shares
of Remington Energy Ltd., a publicly traded natural gas exploration and production
company headquartered in Calgary, Alberta, Canada.
Dominion Energy received tenders for approximately 93 percent
of the outstanding Remington common shares on March 29, 1999. Dominion Energy
has taken up and paid for such shares and, pursuant to statutory procedures,
has acquired the remaining outstanding Remington shares. In conjunction with
this acquisition, the board of directors of Remington has been reconstituted
and now consists exclusively of representatives of Dominion Energy.
Dominion Energy is the natural gas and competitive power
subsidiary of Dominion Resources Inc. (NYSE: D), a US $18 billion holding company
also active in regulated electric power and financial services. It is headquartered
in Richmond, Va.
