Directors

The board of directors of the Interstate Natural Gas Association of America (INGAA) elected John W. Somerhalder II, president of El Paso Corp.’s Pipeline Group, as INGAA’s chairman of the board for 2002. Somerhalder succeeds Stanley C. Horton, chairman and CEO of Enron Transportation Services Co. INGAA completed its slate of officers by electing Cuba Wadlington Jr., president and CEO of Williams Gas Pipeline, as first vice chairman and Fred J. Fowler, president of the energy transmission group at Duke Energy Corp., as second vice chairman. Jerald V. Halvorsen was re-elected president of INGAA. The Natural Gas Council elected Stanley Horton as chairman for 2002 during its board meeting on Oct. 17.

The board of directors of Magnum Hunter Resources Inc. reported late last week that they have elected Gary C. Evans as chairman of the company. He will also retain his position as the company’s president and CEO. Magnum Hunter said Evans, 44, succeeds Matthew C. Lutz who retired as chairman and executive vice president at the beginning of September. Evans previously has served as president, CEO and a director of Magnum Hunter Resources Inc. since Dec. 1995 and chairman and CEO of all of the Magnum Hunter subsidiaries since their formation or acquisition. Evans founded the predecessor company, Hunter Resources Inc., in 1985.

Denver-based Gasco Energy Inc. announced that its board of directors have authorized the purchase of approximately $250,000 of the company’s common shares. The company said it will use working capital if purchases of the common shares are made in the open market. The program has an indefinite life, could be stopped without further notice, or expanded to suit the company’s financial goals and strategies. “The purchase of our stock in the public market is a strong indicator that we believe in our operations and technical people,” said CEO Mark Erickson. “During this difficult period in our nation’s history, it is important for investors to stand tall against the tyranny and remain steadfast with their investments. The stock buy-back program will have no effect on our capital program drilling for natural gas in the Rocky Mountains.” Gasco Energy is a natural gas and oil exploration and development company that focuses on gas rich prospects in the Rocky Mountain area of the United States.

The board of directors of Williams named Steven J. Malcolm president and COO effective immediately. Formerly president and CEO of Williams Energy Services and executive vice president of Williams, Malcolm also was elected to the board. Keith E. Bailey, 59, will relinquish his responsibilities as president of the company and will remain chairman and CEO until his expected retirement at the next annual meeting of shareholders on May 17, 2002. Bailey was elected president in 1992 and chairman in 1994.

The board of directors of Williams named Steven J. Malcolm president and COO effective immediately. Formerly president and CEO of Williams Energy Services and executive vice president of Williams, Malcolm also was elected to the board. Keith E. Bailey, 59, will relinquish his responsibilities as president of the company and will remain chairman and CEO until his expected retirement at the next annual meeting of shareholders on May 17, 2002. Bailey was elected president in 1992 and chairman in 1994.

Noble Affiliate Inc.’s board of directors has approved an expanded program to repurchase common stock from time to time in the open market or privately negotiated transactions. The Houston company’s original program of $50 million has been increased to $100 million, and of the $100 million now authorized, about $70 million remains available to purchase additional shares. The company has already repurchased $30 million of stock and intends to hold all of the repurchased stock shares as treasury shares. As of Aug. 6, there were 56.6 million shares of issued and outstanding common stock.

In a strategic realignment of business operations, the board of directors of KeySpan Corp., the company announced that Robert J. Fani has been elected president, KeySpan Energy Services and Supply, Wallace P. Parker Jr. has been elected president, KeySpan Energy Delivery, and Steven L. Zelkowitz has been named executive vice president and general counsel. “The new positions will enable us to implement our growth strategy and are consistent with the evolution of our organizational structure into regulated and unregulated businesses,” said CEO Robert B. Catell. “To accomplish this, our unregulated business activities will be combined into a new business unit, KeySpan Energy Services and Supply, while our regulated gas and electric business will be combined under KeySpan Energy Delivery.” the company reported that Fani and Zelkowitz will report directly to Catell, while Parker will report to Craig G. Matthews, vice chairman and COO. In addition, Catell, Matthews, Fani and Parker will compose a newly formed office of the chairman, which will focus on corporate strategy and develop a leadership team to position the company for the future.

The New York Independent System Operator’s (NYISO) board of directors last Tuesday voted unanimously to ask FERC to sign off on a penalty plan designed to deter market participants from manipulating New York’s wholesale electricity markets during times of tight power supply.

The board of directors of the Ohio Electric Utility Institute (OEUI) elected Floyd W. Nickerson, AEP Ohio president, as its chairman. In addition, Arthur G. Meyer, vice president of legal and corporate affairs at Dayton Power and Light, was elected vice chairman of OEUI. As chairman, Nickerson will preside over OEUI’s board, which is responsible for setting policy for the non-profit state trade association. OEUI represents Ohio’s five investor-owned electric companies, which provide electricity to 4.5 million customers, nearly 90% of the state’s electric users. “With Ohio moving to electric restructuring starting this year, OEUI will continue to work closely with state officials to accomplish a smooth transition to competition in Ohio’s electric industry,” said Nickerson.