Sept. 8, 1998 The Board of Directors of Enron Oil & Gas Company elected Mark G.
Papa president and CEO of the company and announced that Forrest E. Hoglund, formerly EOG
chairman and CEO, would retain his position as chairman for a year in anticipation of his
planned retirement in Sept. 1999.
"As Chairman, I will continue to fully participate in the key strategic decisions and initiatives that have helped to make us a leader among our peers, but I feel that now is time, as I have planned, to reduce my day-to-day management oversight and allow Mark to lead EOG to even greater accomplishments that I am convinced are yet to come," said Forrest E. Hoglund, EOG Chairman.
"I am extremely proud of the growth and passion for EOG that Mark has exhibited in the almost seventeen years that he has been with EOG and am confident that he will lead us to the next level in our growth curve."
Additionally, Papa was elected to the company's Board of Directors along with John H. Duncan and Richard A. Causey, bringing the total number of directors on the board to eleven. In addition to Hoglund, other directors include Fred C. Ackman, James V. Derrick, Jr., Ken L. Harrison, Kenneth L. Lay, Edward Randall, III, Jeffrey K. Skilling and Frank G. Wisner.
Papa, 51, who was first elected president-North America Operations in 1994, assumed oversight of the company's world-wide operations including North America and was promoted to president of EOG in 1996. In 1997, he was given the additional title of president and Chief Operating Officer of the company.
A native of Pennsylvania, Papa received a B.S. degree in petroleum engineering from the
University of Pittsburgh and an M.B.A. from the University of Houston.
He held management positions in various domestic and international locations with Conoco Inc., prior to joining Belco Petroleum Company in 1981. He became vice president of drilling and production at Belco in 1983 and was elected senior vice president - Operations for EOG in 1985.
Duncan, 70, a member of the Enron Corp. board of directors since 1985, also serves as a director of EOTT Energy Corp., Chase Bank of Texas, N.A. and Group I Automotive Inc. Causey, 38, is Enron Corp. senior vice president and chief accounting and information officer.
Hoglund, 65, who had held the position of chairman and chief executive officer since
joining the company in 1987, will continue as EOG's chairman of the board and will
transition his day-to-day management duties to Papa. Prior to his joining EOG in Sept.
1987, Hoglund was president and CEO of Texas Oil & Gas Corporation (TXO), one of the
fastest growing independent US exploration and production companies at that time. Earlier
in his career, Hoglund was corporate vice president of natural gas. He is a native of
Kansas and received a B.S. degree in mechanical engineering from the University of Kansas.
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