Pyramid Oil Co., Bakersfield, Calif., reported that John Alexander has retired as president and chief executive officer, a position he has held since 2004, and that Mike Herman, chairman and the company’s largest shareholder, has assumed the role as interim president and CEO.
Herman, who has served as chairman since 2005, joins the executive management team with extensive experience in the oil and gas industry.
Herman is chairman and CEO of Denver energy services company Enservco Corp., a publicly traded provider of well enhancement and fluid management services. He also has been active in private oil and gas exploration and production businesses since the mid-1980s.
Alexander, who joined Pyramid as vice-president and a director in 1986, will also step down from the board but will continue to serve as a consultant for the coming year.
Herman noted that Pyramid’s previously announced plan to reenter and deepen three wells to the Monterey formation on its Delaney Tunnell property in Santa Maria, Calif., remains a top priority. Pyramid Oil incorporated in 1909.