Boone Pickens
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REMARKS FOR THE NEW EMPLOYEE MEETING
AMARILLO TX
MAY 20, 1988

INTRODUCTION

Roll Call

Purpose of meeting. . .Acquaint you with MLP. . .Management’s philosophies and goals.

I’ll talk for a little while, then I’d like to hear what’s on your minds.

Review the Partnership structure.

Discuss obligation to unitholders. . .employee ownership.

Conviction that Mesa is the best company in the industry. . .model for Corporate America.

Mesa is a young, progressive company providing excellent opportunities for all employees.

Management commitment. . .to recruit and retain only top-quality personnel. . .you’re the cream of the crop.

NATURE OF MESA’S BUSINESS

Simple operation:
—Nothing Manufactured
—Explore for, acquire and develop oil and gas
—Sell nothing in Amarillo [Handwritten addition: Yes since PNA]

Update on the petroleum industry.

MESA’S HISTORY

Organization; became public in 1964.

Growth:
—American Stock Exchange 1967
—New York Stock Exchange 1969
—Hugoton 1969
—Pubco 1973
—Ashland 1979
—Mesa Royalty Trust 1979
—Texaco/Sequoia Partnership 1980
—Mesa Offshore Trust 1982
—Mesa Limited Partnership 1985
—Pioneer 1986

PERSONNEL

Total of 574 employees:
—371 in Amarillo/Fain
—38 in Ulysses
—165 in other field operations

Outstanding employee benefits package, ranked #1 in the industry in recent independent survey.

Maximum participation encouraged.

Benefits provided:
—Medical, dental, life insurance
—Profit sharing plan
—Educational assistance
—Physical fitness program
—WellPlan
—(New) Chemical Dependency Program

MANAGEMENT’S EXPECTATIONS

Since Mesa does not have a large number of employees, maximum effort and efficiency are essential (explain philosophy).

Supportive attitude.

Fit-Time schedule for physical fitness. . .don’t abuse the policy.

Personal telephone calls.

Proper attire. . .look like bush league, play like bush league.

Political awareness; be informed and active.

Professionalism; don’t be a griper. Be above office gossip and speculation (rumors of move). . .Mesa management will keep you informed. . .No surprises. Community involvement encouraged; despite what you may read in the paper, Mesa is a major contributor to the Panhandle area.

Mesa and employees injected $87 million directly into the Amarillo economy last year. . .payroll, purchases from local businesses, cash distributions to local unitholders, taxes and charitable contributions.

U.S. Chamber of Commerce multiplier effect. . .$87 million equates to a $346 million impact on the economy and creates hundreds of other jobs.

Mesa employees are the best paid, most skilled group of workers in the area. . .we’re high profile. [Handwritten addition: This will be a problem for you.]

Get to know the company. . .be able, willing and proud to talk about it.

You can be proud of Mesa’s and your significant contributions to the area.

But most important. . .Enjoy your work; be happy or leave; you owe it to yourself, family.

Football coach; assemble the players, make the team #1 company; we expect more and we provide more.

QUESTIONS AND ANSWERS