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United Meridian combining with Louisiana-based Ocean Energy. (United Meridian Corp acquires Ocean Energy Inc)
Houston-based United Meridian Corp. will merge with a Louisiana energy company to form the ninth largest independent oil and gas company. United Meridian and Baton Rouge-based Ocean Energy Inc. will be headquartered in Houston and will be named Ocean Energy Inc.
The new oil and gas exploration and production company will have a pro forma total market capitalization of $3.1 billion. The two merging companies combined currently produce 58,000 barrels of oil daily and 350 million cubic feet of gas, for a total proved reserve base of 250 million barrels of oil equivalent.
John B. Brock, chairman and chief executive officer of UMC, will become chairman of the combined …
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