SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report - November 21, 2000
(Date of earliest event reported)
Questar Market Resources Company
(Exact name of registrant as specified in charter)
STATE OF UTAH 0-14147 87-0307414
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation File No.) Identification No.)
or organization)
P. O. Box 45601, 180 East 100 South, Salt Lake City, Utah 84145-0601
(Address of principal executive offices)
Registrant's telephone number, including area code (801) 324-5555
Not Applicable
(Former name or former address, if changed since last report.)
Item 5. Other Events and Regulation FD Disclosure.
On November 21, 2000, a district court judge in Texas County,
Oklahoma, signed an order giving preliminary approval to the
settlement reached by Questar Market Resources Inc. ("Questar Market
Resources" or the "Company") and its affiliated defendants and
Union Pacific Resources Company and its affiliated defendants ("UP
defendants") in Bridenstine v. Kaiser-Francis Oil Company. Under
the terms of the settlement, the Company and the UP defendants
agreed to pay $22.5 million ($16.5 million by Questar Market
Resources and $6 million by UP defendants) to plaintiffs to resolve
all of the issues pending in the litigation against them. Payment
of the settlement will not have a material adverse impact on the
Company's financial results for 2000.
Questar Market Resources and the UP defendants settled the matter
without acknowledging any liability or wrong-doing in order to avoid
the costs of protracted litigation and the uncertainty of having
the case heard by a jury. The case, which was originally filed in
August of 1995, is a class action on behalf of all royalty owners
for gas volumes produced from wells connected to an intrastate
pipeline system in Oklahoma commonly referred to as the Beaver
Pipeline System. The litigation covered 17 years and involved both
tort and contract claims; estimates of damages claimed by the
plaintiffs were as high as $80 million plus punitive damages. The
Company, through its subsidiary, Questar Exploration and Production
Company, and the UP defendants acquired the properties that were
involved in this lawsuit in 1994.
SIGNATURES
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.
QUESTAR MARKET RESOURCES, INC.
(Registrant)
/s/G. L. Nordloh
November 22, 2000 G. L. Nordloh
(Date) President and Chief
Executive Officer
