Retire

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.

Magnum Hunter Resources Inc. recently reported that Matthew C. Lutz, chairman and executive vice president of the company, will retire and resign from his positions effective September 1. Lutz will remain a board member of Magnum Hunter and will continue to be actively involved in certain projects with the CEO, the company added. Lutz originally joined the predecessor of Magnum Hunter — Hunter Resources Inc. in 1993. He has served as chairman since March 1997 and executive vice president since 1995. He previously served as vice chairman from December 1995 to March 1997.

Devon Energy Corp. reported that H. Allen Turner, senior vice president of corporate development, plans to retire at the end of this month to pursue other interests. Turner led Devon’s corporate finance and capital formation activities since joining the company in 1982. Brian J. Jennings, Devon’s current vice president of corporate finance, has been elected to succeed Turner. Devon Energy said Jennings brings more than 17 years of oil and gas-related experience, including 11 years in energy investment banking. The company also announced that David J. Sambrooks has been elected to the position of vice president and general manager-international division. He was previously production manager for South America. Prior to its merger with Devon, Sambrooks served as general manager of international business development and western hemisphere production for Santa Fe Snyder Corp. Devon Energy is an independent energy company engaged in oil and gas exploration, production and property acquisitions. Almost 75% of the company’s proved reserves are located in North America. Devon Energy also has significant international operations in Azerbaijan, Southeast Asia, South America and West Africa.

CMS Energy President and COO Victor J. Fryling will leave thecompany effective Dec. 20, the company announced yesterday.

Pioneer Natural Resources Co. of Dallas closed a $62.3 millionsale of South Texas gas properties to CNG Producing Co. Proceedswill retire bank debt. Pioneer also agreed to sell a West Texasproperty for $35 million to EnerQuest Oil & Gas of Midland, TX.The property is the last waterflood field operated by Pioneer.Selling the higher-cost field cuts Pioneer’s operating costs. Thetransaction is scheduled to close by the end of the third quarterwith a Jan. 1, 1999 effective date. Pioneer announced the propertysales in June. Pioneer property divestitures in Canada areprogressing as expected, and the company expects to close the lastof several Canadian deals this month. Pioneer has major operationsin the United States, Canada and Argentina.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

Jack L. Messman, chairman and CEO of Forth Worth, TX-based UnionPacific Resources Group, will retire and UPR President GeorgeLindahl III will succeed him as well as remain president of thecompany. Messman has led UPR for more than eight years. He joinedthe company in 1991 while it was a subsidiary of Union PacificCorp. He oversaw an initial public offering in 1995 and the fullspin-off of the oil and gas company from Union Pacific in 1996.Lindahl has more than 30 years experience in the oil and gasbusiness and came to UPR in 1987 as exploration manager afterworking for 19 years in exploration and production, primarily as anexecutive with BP Amoco. He has been the company’s president since1996.

Pioneer Natural Resources Co. of Dallas agreed to sell oil andgas properties in Texas and Canada for about $105 million, whichwill be used to retire Pioneer bank debt.

Patrick J. Maher, chairman of Washington Gas Light, will retireeffective March 1. He will begin his leave pending retirement onDec. 1. Maher joined the company in 1974 as vice president andchief financial officer, and subsequently held the positions ofexecutive vice president of finance and administration, president,and chief executive officer. He has been a member of the board ofdirectors since 1988 and became chairman in 1992.