SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) November 30, 1999
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UNOCAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-8483 95-3825062
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(Commission File Number) (I.R.S. Employer Identification No.)
2141 Rosecrans Avenue, Suite 4000, El Segundo, California 90245
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(Address of Principal Executive Offices) (Zip Code)
(310) 726-7600
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(Registrant's Telephone Number, Including Area Code)
Item 5. Other Events.
Unocal Corporation's Spirit Energy 76 business unit has plugged and
abandoned the delineation well drilled at the McKinley discovery on Green Canyon
block 416. The delineation well penetrated hydrocarbon-bearing zones, but
further drilling and study are unlikely to establish commerciality and no
further drilling is planned on the prospect. Unocal holds a 50-percent interest
in the six-block prospect. In the fourth quarter of 1999, the company will
record pre-tax dry hole costs of approximately $17 million which reflects its
total investment in the project.
Forward-looking statements and estimates regarding exploration and production
activities and expected accounting charges in this filing are based on
assumptions concerning market, competitive, regulatory, environmental,
operational and other conditions and considerations. Actual results could differ
materially as a result of factors discussed in Unocal's 1998 Annual Report on
Form 10-K.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
UNOCAL CORPORATION
(Registrant)
Date: December 1, 1999 By: /s/ JOE D. CECIL
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Joe D. Cecil
Vice President and Comptroller
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