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 Texaco Inc. has purchased an oil-producing company in Texas for $476.5 million, its first major acquisition 
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since its legal brawl with Pennzoil Co. began more than four years ago.
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 The White Plains, N.Y., oil company said Friday 
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that it had acquired Tana Production Corp., a subsidiary of TRT Energy Holdings Inc., for $95.1 million in cash, with the rest 
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to be paid in shares of a new, non-voting issue of preferred stock.
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 Tana,
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 which holds properties in 17 oil and gas fields in south Texas, 
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will provide Texaco with mostly gas reserves.
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 The fields contain recoverable reserves of 435 billion cubic feet of natural gas and four million barrels of oil. 
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 This acquisition is another indication of Texaco's commitment 
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to increase the company's reserve base, 
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said Chief Executive Officer James W. Kinnear.
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 Texaco has also been attempting to sell oil properties.
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 At least two years ago, the company put 60 million barrels of oil reserves on the block. 
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They were either too small or uneconomic 
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to maintain,
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 the company said.
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 Not all of those parcels have yet been sold.
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 Texaco acquired Tana 
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before it completed those sales 
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because Tana's properties are high quality and near other fields 
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Texaco already owns,
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 a company spokeswoman said.
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 Texaco, like many other oil companies, has been struggling to replace its falling oil and gas reserves.
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 Texaco's situation had become particularly complex 
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because much of its effort had for years been focused on its brawl with Pennzoil and then on New York investor Carl C. Icahn's attempt
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 to take over the company.
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 Pennzoil had sued Texaco 
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for improperly interfering with its acquisition of a portion of Getty Oil Co. 
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Eventually, Texaco,
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 which was forced into bankruptcy proceedings by that litigation,
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 settled its fight with Pennzoil for $3 billion in 1986.
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 Mr. Icahn,
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 who played a key role in the settlement and attempted subsequently to take control of the company, 
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sold his stake in Texaco just last summer.
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 Completion of Texaco's acquisition of Tana is subject to government approval under the Hart-Scott-Rodino Antitrust Improvements Act.
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