John Hoey Will Take the Reins of Hondo Oil

Hondo Oil & Gas Co. of Roswell, N.M., announced Tuesday that John J. Hoey, former president of Atlantic Refining & Marketing Corp. of Philadelphia, will take over as Hondo’s new president and chief executive effective Nov. 30. Hoey has served on the Hondo board since June.

Hondo--and a predecessor company, Pauley Petroleum Inc.--have been led by petroleum pioneer and philanthropist Robert O. Anderson since shortly after his retirement as chairman of Atlantic Richfield Co. in 1986.

Anderson, who has held the titles of president and chief executive, will remain as chairman of Hondo. Anderson said Tuesday in a statement, “This is a transition that I have looked forward to for some time.”

Anderson and a British partner in Hondo, financier R.W. (Tiny) Rowland, have much of Hondo’s future riding on development of a natural-gas field in the Magdalena Basin of Colombia. After a major setback last spring, Amoco Corp. bought half the Magdalena project and has begun drilling a new exploratory well.

Atlantic Refining & Marketing, a subsidiary of Sun Company Inc. of Philadelphia, owns a refinery in that city and operates bulk petroleum terminals, retail gasoline service stations and convenience stores.

Hoey, who lives in Villanova, Pa., has also worked for the State Department and in banking. Hondo said it does not contemplate a change in its headquarters location.