HOUSTON, Jan. 23 /PRNewswire/ -- Ocean Energy, Inc. (NYSE: OEI) today
announced that James C. Flores, Vice Chairman and a member of the Board of
Directors, has elected to resign effective immediately.
"As one of the founders and a significant shareholder of Ocean Energy, I
am leaving with a great deal of pride in what has been accomplished in the
last 18 years. From grassroots beginnings, the company has developed into a
worldwide oil and gas exploration and production company that is financially
strong and positioned for dynamic future growth," said Flores. "As I move on
to pursue other business and personal interests, I have total confidence in
Jim Hackett, his management team and the Board of Directors."
"The leadership of Jim Flores has been instrumental to the success of
Ocean since inception," said James T. Hackett, Chairman, President and Chief
Executive Officer. "It was his personal vision that led to the original
formation and growth of Flores & Rucks, the forerunner to Ocean Energy today,
and he played an active role in the expansion of the company internationally.
The Board and I extend our appreciation and gratitude and wish him the best in
his new endeavors."
Ocean Energy, Inc. is an independent energy company engaged in the
exploration, development, production, and acquisition of crude oil and natural
gas. North American operations are focused in the shelf and deepwater areas
of the Gulf of Mexico, the Permian Basin, Mid-continent and Rocky Mountain
regions. Internationally, Ocean holds a leading position among U.S.
independents in West Africa with oil and gas activities in Equatorial Guinea,
Cote d'Ivoire, and Angola. The company also conducts operations in the
republics of Egypt, Tatarstan, Pakistan and Indonesia.
SOURCE Ocean Energy, Inc.
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Related links:
http://www.oceanenergy.com
Company News On-Call:
http://www.prnewswire.com/comp/913463.html or fax,
800-758-5804, ext. 913463
CONTACT:
financial, Bruce Busmire, 713-265-6161, or
media, Janice Aston White, 713-265-6164, both of Ocean Energy,
Inc.
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