<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) -- June 13, 1994
MAPCO INC.
(Exact name of registrant as specified in its charter)
Delaware 1-5254 73-0705739
- - ------------------ ----------------- --------------------
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1800 South Baltimore Avenue
Tulsa, Oklahoma 74119
------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (918) 581-1800
Not Applicable
(Former name or former address, if changed since last report)
Page 1 of 4 Pages
<PAGE> 2
Item 5. Other Events.
On June 13, 1994, MAPCO Inc. issued the attached press release.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
None.
Page 2 of 4 Pages
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
MAPCO INC.
By: /s/ JAMES N. CUNDIFF
Name: James N. Cundiff
Title: Assistant General Counsel
and Assistant Secretary
Date: June 14, 1994
Page 3 of 4 Pages
<PAGE> 4
<TABLE>
<S> <C> <C>
PRESS RELEASE FROM:
/ / DAVID S. LESLIE / / RICK J. NEAL
SENIOR VICE PRESIDENT -- CORPORATE AFFAIRS VICE PRESIDENT -- PUBLIC AFFAIRS
ASSISTANT TO THE CHIEF EXECUTIVE OFFICER 918 599-3650
918 599-3655 (HOME) 918 744-5447
(LOGO) MAPCO (HOME) 918 492-5962
POST OFFICE BOX 645
TULSA, OKLAHOMA 74101-0645 / / TERRI WILLSON
MANAGER -- CORPORATE AFFAIRS
918 599-3608
(HOME) 918 742-3535
</TABLE>
FOR IMMEDIATE RELEASE
Tulsa, Oklahoma, June 13, 1994: MAPCO Alaska Petroleum Inc. (MAPI), an
affiliated subsidiary of MAPCO Inc. (MAPCO), located in Tulsa, Oklahoma,
announced today that it has received an adverse ruling in its litigation against
the State of Alaska with regard to retroactive price adjustments under MAPI's
1978 royalty oil purchase agreement.
On August 28, 1992, MAPI commenced suit against the State, in an Anchorage State
Court, seeking a declaratory judgement that MAPI is not liable to the State for
any retroactive price increase under the 1978 agreement. MAPI and the State
subsequently filed summary judgement motions addressing core contract
interpretation issues. In response to these motions, the ruling states that MAPI
is liable for retroactive royalty oil price adjustments, subject only to further
review by the Court as to retroactive interest due, if any. The ruling,
supporting the State's $98 million claim against MAPI, fifty percent (50%) of
which is retroactive interest, is subject to additional defenses that MAPI is
entitled to raise at a scheduled 1995 trial. Therefore, the outcome of this
litigation is not final, and MAPI is presently considering all its options.
A final resolution of the litigation consistent with the Court's ruling would
result in material liabilities which have not been fully reflected in MAPCO's
consoldiated financial statements. MAPCO is currently evaluating the adequacy of
its accruals in this matter. If MAPI is required to make payments to the State,
it has contractual rights to defer those payments over an extended period of
time.
- 30 -
Page 4 of 4 Pages
