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Mesa Inc has taken its Hugoton natural gas field off of the market since it did not receive any acceptable offers for it. Mesa, which put the field on the market to raise capital to pay down its $1.2 billion in debt, received 10 bids for the field, the highest of which was for $750 million, a price that Mesa Chmn T. Boone Pickens, Jr termed 'unrealistic.' Despite its failure to sell the field, Mesa believes that its current cash flow and cash reserves are adequate to cover the $210 million in debt service it will owe over the following year., WASHINGTON -- In a move disappointing for Mesa Inc. but not surprising to most Wall Street analysts, the company said Monday it is keeping its prized Hugoton natural gas field [...]

IRVING and MIDLAND, Texas--(BUSINESS WIRE)--July 1, 1997--MESA Inc. (NYSE:MXP) and Parker & Parsley Petroleum Company announced today that their Joint Proxy Statement/Prospectus for their previously announced merger has been declared [...]

IRVING, Texas--(BUSINESS WIRE)--April 28, 1997--MESA Inc. (NYSE:MXP) today reported its financial and operating results for the first quarter of 1997. Higher operating income and substantially lower interest expense contributed to [...]

IRVING, Texas, Feb. 27 /PRNewswire/ -- MESA Inc. (NYSE: MXP) today reported its financial and operational results for the year and fourth quarter 1996. Full Year 1996 Improved natural gas [...]

IRVING, Texas--(BUSINESS WIRE)--April 22, 1996--MESA Inc. Monday reported net income of $1.1 million, $.02 per share, during the first quarter of 1996 compared with a net loss of $7.9 million, [...]

IRVING, Texas--(BUSINESS WIRE)-- Feb. 29, 1996--MESA Inc. and Rainwater, Inc., a company owned by Fort Worth, Texas investor Richard Rainwater and managed by Darla D. Moore and Kenneth A. Hersh, [...]

WASHINGTON -- When it comes to independents' bottom lines, low finding and development costs are all to the good. When it comes to growth potential, a better indicator probably is [...]

Atlantic Richfield Co. (Arco), Louisiana Land and Exploration Co. (LL&E) and Mesa Inc. all reported net earnings increases in their 1st qtr, 1997 financial reports. Arco's net income increased by 31% from $370 million in the 1st qtr, 1996 to $483 million in the most recent quarter. LL&E's net earnings increased from $20.6 million in the 1st qtr, 1996 to $21.2 million in the 1st qtr, 1997, while Mesa's net earnings increased from $1.1 million to $6.7 million in the same period., WASHINGTON -- Boosted by strong upstream and downstream performances, Atlantic Richfield Co.'s (Arco) first-quarter net income rose nearly 31% from the same quarter of last year despite a 48% drop [...]

Mesa Inc has proposed a cash infusion from millionaire investor Richard Rainwater. The recapitalization plan is opposed by some shareholders who claim the plan benefits Rainwater at the expense of other shareholders, because he will buy Mesa shares at below market prices. The shareholders also claim their investments will be diluted in value. Mesa has gone through a long process to try and sell all or part of the company beginning in 1994. Shareholders will vote on the proposal June 25, 1996., After a long, tough effort to obtain much-needed cash to pay off crippling debt, Mesa Inc. is urging shareholders to approve a proposed recapitalization plan involving millionaire investor Richard Rainwater. [...]

The second quarter of 1995 was good for Oryx Energy Co and Louisiana Land and Exploration Co (LL&E), while low natural gas prices hurt the earnings of Anadarko Petroleum Corp and Noble Affiliates Inc, and Mesa Inc reduced its losses from the 2nd quarter of 1994. Oryx net income for the quarter was $11 million, up from a $7 million loss in 1994. LL&E earned $6.4 million, up from $600,000 in 1994. Mesa lost $14 million, bettering its 1994 loss of $25 million. Anadarko reported net earnings of $9 million, $2 million lower than 1994, and Noble's earnings of $3.3 million were down from $4.3 million in 1994., WASHINGTON -- Oryx Energy Co. stayed in the black for the third consecutive quarter and Louisiana Land and Exploration Co. (LL&E) reported higher earnings than analysts had expected. Meanwhile, Mesa [...]

Mesa Inc tried to auction off its Hugoton gas field holdings on June 12, 1995, but did not get any attractive offers. Mesa wanted to get cash to pay off its $1.2 billion in debt. The holdings of 1.2 billion cubic feet of natural gas are considered some of the best in the US, but the highest bid, $750 million, was well below what Mesa expected, and the company will now consider other options, such as dividing the holdings up into smaller parcels before selling them.

Parker & Parsley Petroleum Co. and Mesa Inc., companies due to merge next month, faced challenging second quarters that resulted in declining financial performances. Parker & Parsley saw its net [...]

IRVING, Texas -- Mesa Inc. doubled its operating income in 1996, but a restructuring-related charge of $59.4 million and $9.5 million in preferred stock dividends put the company in the [...]

HOUSTON -- Mesa Inc. posted its first back-to-back quarterly profits in seven years with second-quarter earnings of $4.5 million (7 cents/share) from revenues of $71.3 million, compared with a loss [...]

Mesa Inc. posted its first profitable quarter in seven years, reporting net income of $1.1 million (2 cents/share) on revenues of $80.6 million for the first quarter. That compares with [...]

Mesa Inc. said Tuesday it had secured the necessary financial commitments to help execute its recapitalization plan. Mesa said Chase Manhattan Corp. and Bankers Trust New York Corp. had committed [...]

Mesa Inc. narrowed its losses in 1995, reporting a $57.6 million (90 cents/share) loss on revenues of $235 million, compared with a net loss of $83.4 million ($1.42/share) on revenues [...]

Mesa Inc. expects to post more than $30 million in gains from energy futures trading in 1995, a record for the company, it announced Tuesday. Mesa also said it has [...]