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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): August 30, 1996
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MESA INC.
(Exact name of registrant as specified in its charter)
1-10874
Commission File Number
Texas 75-2394500
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
1400 Williams Square West
5205 North O'Connor Boulevard
Irving, Texas (214) 444-9001 75039
(Address of Principal (Registrant's (Zip Code)
Executive Offices) Telephone Number)
Not Applicable
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(Former name or former address if changed since last report)
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<PAGE>
Item 5. Other Events
On August 22, 1996 MESA Inc. (the "Company") announced that the Board of
Directors (the "Board") of the Company elected Jon Brumley to serve as Chairman
of the Board and Chief Executive Officer of the Company and that Boone Pickens,
the former Chairman of the Board, President, Chief Executive Officer and Chief
Operating Officer of the Company had resigned each of such offices. Darla D.
Moore also resigned her position as a director of the Company effective upon
the election of Mr. Brumley to fill such vacancy. Mr. Pickens will remain on
the Board.
Item 7. Financial Statements in Exhibits.
(c) Exhibits
Item Exhibit
99 Press Release issued by MESA Inc. on August
22, 1996.<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MESA Inc.
Date: August 30, 1996 By: /s/ Stephen K. Gardner
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Stephen K. Gardner, Vice President
President and Chief Financial Officer
<PAGE>
INDEX TO EXHIBITS
Item
Number Exhibit
99 Press Release issued by MESA Inc. on August 22, 1996.
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EXHIBIT 99
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FOR IMMEDIATE RELEASE CONTACT: JAY ROSSER
August 22, 1996 (214) 402-7019
MESA INC. BOARD ELECTS JON BRUMLEY NEW CHAIRMAN AND CEO
(IRVING, Texas) -- The Board of Directors of MESA Inc. unanimously elected
Jon Brumley as Chairman of the Board and Chief Executive Officer of the
independent oil and gas company. Mr. Brumley will succeed Boone Pickens,
MESA's current Chairman and CEO, effective immediately. Pickens announced
plans in June to step down, pending the hiring of a successor. "Jon Brumley
has spent his entire career in the oil and gas industry, he is an entrepreneur,
and has an excellent record. I am pleased that Jon has accepted this
leadership position," said Pickens. "MESA will be in good hands."
Mr. Brumley, 57, was most recently Chairman of the Board and CEO of Cross
Timbers Oil Company. "MESA has the best natural gas and oil assets of any
independent producer," said Richard Rainwater, MESA's largest shareholder and a
member of the company's board of directors. "In Jon Brumley, we have found one
of the best managers in the business."
Mr. Brumley co-founded Cross Timbers Oil Company and served as chairman
from 1986 until mid-1996. Prior to 1986, Mr. Brumley was President and CEO of
Southland Royalty Company. "Boone Pickens is a tough act to follow and has
been a leader in the industry," said Brumley. "I appreciate the trust and
confidence being placed in me by MESA's board of directors and look forward to
leading MESA into a new era of growth and profitability for all shareholders."
MESA recently completed the recapitalization of the company's balance
sheet by issuing new equity and repaying and refinancing its long-term debt.
The recapitalization will enhance MESA's ability to compete in the oil
and gas industry by substantially increasing its cash flow available for
investment.
# # #
(Copies of MESA news releases issued during the past 12 months are
available for retrieval on MESA's Internet home page: http://www.mesainc.com)
