VASTAR Resources reminds me of David and Goliath, says financial analyst Irene Haas of Sanders Morris Mundy in Houston. Trying to grow when you're restricted to the lower 48 (US states) is difficult but they have managed. In 1993, Vastar was created as a spin-off of Arco and is 82% owned by the US giant. Its charter limits the company to operations on the US mainland and offshore so as not to conflict with E&P activities by Arco's upstream units.
Vastar stock rises with its Gulf success
US explorer tallies record profits on its mainland and offshore turf
10 April 1998 0:00 GMT
Updated
10 April 1998 0:00 GMT