UNITED STATES
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 (Date of earliest event reported) June 25, 1998
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EQUITABLE RESOURCES, INC.
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-3551 25-0464690
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
420 Boulevard of the Allies, Pittsburgh, Pennsylvania 15219
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 261-3000
-----------------------------
NONE
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
The registrant, Equitable Resources, Inc. (ERI), today announced
that it will elect David L. Porges as the Company's, senior vice
president and chief financial officer. Porges replaces Jeffrey
Swoveland, who will resume his duties as vice president - finance
and treasurer. Mr. Porges will assume his new position at ERI on
July 1, 1998.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) A press release announcing the election of David L. Porges as the
Company's senior vice president and chief financial officer
effective July 1, 1998, is filed as Exhibit 99 to this report.
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereto duly authorized.
EQUITABLE RESOURCES, INC.
(Registrant)
By /s/ Jeffrey C. Swoveland
Jeffrey C. Swoveland
Vice President - Finance and Treasurer
and Interim Chief Financial Officer
June 25, 1998
<PAGE>
EXHIBIT INDEX
Exhibit No. Department Description Sequential Page No.
99 Press release announcing the election 4
of David L. Porges as the Company's
senior vice president and chief financial
officer
Robert E. Butter - Media
(412) 553-5911
or
Contact: Robert Atkinson - Analysts
(412) 553-5768
Release Date: June 25, 1998
Equitable Resources Names David L. Porges
Senior Vice President and Chief Financial Officer
PITTSBURGH -- David L. Porges, energy industry financial executive,
banker and advisor with Bankers Trust Corporation, will be elected senior vice
president and chief financial officer of Equitable Resources, Inc. (ERI). He
will assume his duties on July 1, 1998, one month into the term of ERI's new
president and chief executive officer Murry S. Gerber, a former Shell Oil
executive.
David Porges, 40, replaces Jeffrey Swoveland in this capacity. Mr.
Swoveland has served the Company as interim CFO since last July and will resume
his duties as vice president-finance and treasurer. Mr. Porges will become a
part of the Company's senior management team charged with strengthening ERI's
competitive and financial position through growth initiatives in its three
principal businesses -- exploration and production, energy distribution and
energy management services.
With a 17-year track record in energy finance, risk management and
strategic planning, Mr. Porges brings to the position both corporate and
advisory experience with leading energy companies in the United States and
internationally. Most recently, he led Bankers Trust's energy advisory efforts
within that firm's BT Wolfensohn Mergers & Acquisitions and Corporate Advisory
Group. In this role, he advised oil and gas exploration and production firms and
deregulating energy clients. He has held various management positions with
Bankers Trust since 1987. His prior experience also includes sales management
and strategic planning positions with Exxon Corporation.
<PAGE>
"David Porges brings to ERI proven financial management experience in
corporate development and creating value for energy companies," said Murry
Gerber, ERI's president and chief executive officer. "His expertise will be
instrumental in our plans to focus on a profitable growth strategy for our
primary businesses. I am pleased that he will be joining me and ERI's management
team at this time."
As a financial advisor, Mr. Porges was integrally involved in
exploration and production financing projects, risk management strategies and
business development for Shell Oil, including the creation of its affiliate
Coral Energy, where he worked closely with Mr. Gerber in these successful
ventures.
"I look forward to joining Equitable and becoming a part of a
management direction dedicated to improving value for customers, shareholders
and employees," Mr. Porges said.
A Chicago native, David Porges holds a master of business
administration degree from the Stanford Graduate School of Business and a
bachelor of science degree in industrial engineering and operations research
from Northwestern University. He is a member of the Independent Producers
Association of America and is active in Texas Gulf Coast's United Way campaign
and serves on the executive committee of the Tony Award-winning Alley Theatre in
Houston.
Equitable Resources, Inc. (NYSE:EQT) is a fully-integrated energy
exploration and production, distribution, marketing and energy services company.
It offers customized energy (natural gas, gas liquids, crude oil and
electricity) solutions to wholesale and retail customers with innovative
products and services through three primary business segments -- ERI Supply &
Logistics, ERI Utilities and ERI Services. ERI has customers and operations
nationwide and in selected international locations.
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Equitable Resources' recent news releases are available free of charge by fax
through Company News on Call at 1-800-758-5804, ext. 289250, or on the Internet
at http://www.eri2000.com
