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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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)
December 14, 1998
EEX CORPORATION
(Exact name of Registrant as specified in its charter)
Texas 1-12905 75-2421863
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2500 CityWest Boulevard, Suite 1400, Houston, Texas 77042
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including Area Code (713)243-3100
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ITEM 5. Other Events
Set forth below in its entirety is a News Release issued by
EEX Corporation on December 14, 1998:
EEX SELLS PROPERTIES IN OKLAHOMA AND TEXAS
HOUSTON, TEXAS (December 14, 1998) -- EEX Corporation
(NYSE: EEX) has agreed to sell substantially all of its oil
and gas properties in Oklahoma and the Hardeman Basin, North
Central Texas, for a combined consideration of approximately
$32 million in cash. Lariat Petroleum, Inc. is acquiring
the properties in Oklahoma and Key Production Company, Inc.
is acquiring the Hardeman Basin properties. The aggregate
daily production from these properties currently
approximates 15 million cubic feet equivalent of natural
gas.
"These transactions represent a continuation of our
program to monetize our non-core onshore properties for
reinvestment in the Gulf of Mexico," said Tom Hamilton,
Chairman and President, Chief Executive Officer. EEX
expects to close both transactions prior to the end of 1998.
The combined transactions will result in a pre-tax book gain
of approximately $12 million.
EEX Corporation is an oil and natural gas exploration
and production company with activities currently focused in
Texas, the Gulf of Mexico and Indonesia.
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This report includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934.
Although EEX believes that its expectations are based on
reasonable assumptions, it can give no assurance that its
goals will be achieved. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include political developments in
foreign countries, federal and state regulatory
developments, the timing and extent of changes in commodity
prices, the timing and extent of success in discovering,
developing and producing or acquiring oil and gas reserves,
and conditions of the capital and equity markets during the
periods covered by the forward-looking statements. EEX's
periodic reports filed with the Securities and Exchange
Commission include a discussion of important factors that
could cause actual results to differ materially from those
indicated in forward-looking statements.
For additional information, call 1-888-EEX-NEWS, or visit
our Website at http://www.eex.com
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SIGNATURE
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.
EEX Corporation
By: /s/ B. A. Brown
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B. A. Brown
Vice President,
Financial Relations
Date: December 16, 1998
