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HADSON ENERGY RESOURCES CORPORATION ANNOUNCES NEW CHAIRMAN AND CHIEF EXECUTIVE OFFICER

 OKLAHOMA CITY, Oct. 1 /PRNewswire/ -- Hadson Energy Resources Corporation (AMEX: HDX) reported today that William J. Johnson, president and chief operating officer of Apache Corporation (NYSE: APA), a 66.5 percent stockholder of Hadson Energy, has been elected a director and chairman and chief executive officer of Hadson Energy. John C. Capshaw, former chairman and chief executive officer, remains as president and a director. Apache acquired its interest in Hadson Energy in July 1993 and on Aug. 26, 1993, entered into a definitive merger agreement with Hadson Energy whereby Apache will acquire Hadson Energy by merging Hadson Energy with a wholly owned subsidiary of Apache. The merger is subject to approval by 66-2/3 percent of Hadson Energy stockholders other than Apache and its affiliates.
 Hadson Energy also reported the resignations of four directors, including J. Michael Adcock, Gordon F. Ahalt and Robert P. Capps, representatives of Hadson Corporation, a former 49 percent stockholder of Hadson Energy. The fourth resigning director was William C. Rankin, who formerly was Hadson Energy's chief financial officer. The resignations of the four directors were solely for personal reasons and were not due to any disagreement with or relating to Hadson Energy, Apache or the pending transaction. Jeffrey A. Bonney, a vice president and former controller of Hadson Energy, succeeds Rankin as chief financial officer, and has been elected treasurer of the company.
 Hadson Energy, based in Oklahoma City, is an energy company engaged in domestic and international crude oil and natural gas acquisition, exploration, development and production.
 Apache Corporation, based in Houston, is an independent energy company, engaged in exploration for, and development and production of, natural gas and crude oil. Apache's securities are traded on the New York and Chicago Stock Exchanges (symbol - APA).
 -0- 10/1/93
 /CONTACT: John C. Capshaw, president, or Jeffrey A. Bonney, vice president and chief financial officer of Hadson Energy Resources Corporation, 405-232-2212/
 (HDX APA)


CO: Hadson Energy Resources Corporation; Apache Corporation ST: Oklahoma, Texas IN: OIL SU: PER

TW -- NY017 -- 7672 10/01/93 09:29 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:341
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