Unocal, the California oil company that is the subject of a bidding war, is selling a Canadian daughter company, the purchaser, Pogo Producing Co., said Monday. Unocal will receive 1.8 billion dollars cash for Northrock Resources Ltd, the California-based seller confirmed. Pogo has sold several of its overseas holdings, including its stakes in Thailand's oil and gas fields and Hungary, so it could concentrate on North American acquisitions. Northrock's properties produced about 36,900 barrels of oil a day in western Canada. The new Houston-based owner, Pogo, pumped about 48,767 barrels of oil and similar products a day and 335.1 million cubic feet of natural gas. Unocal agreed to sell off Northrock before it agreed to be sold to Chevron Corp. for 16.2 billion dollars. That acquisition however has been called into question by a counter bid from China's government- controlled oil company CNOOC Ltd. for 18.5 billion dollars. --SP 2228 Local Time 1928 GMT
