Kerr-McGee buying Westport Resources in stock deal

<br>(Denver-AP) -- Oklahoma City-based Kerr-McGee is buying Denver-based Westport Resources for about $2.5-billion in stock. <br><br>Kerr-McGee will also assume about $900-million of Westport's debt.

Wednesday, April 7th 2004, 12:00 am

By: News On 6

(Denver-AP) -- Oklahoma City-based Kerr-McGee is buying Denver-based Westport Resources for about $2.5-billion in stock.

Kerr-McGee will also assume about $900-million of Westport's debt.

The deal will create one of the country's biggest independent oil and gas producers. Kerr-McGee says Westport's low-risk oil and natural gas reserves in the Rockies and southern Texas will make the company's output more predictable.

Kerr-McGee has operations worldwide and its core businesses are oil and natural gas and marketing of titanium dioxide pigment.