EXCO Resources chairman, chief executive officer resigns

EXCO Resources Inc. Chairman and Chief Executive Officer Douglas H. Miller has resigned from his positions. EXCO’s board has appointed Jeffrey D. Benjamin, a long-time investor in EXCO and an independent member of the independent’s board, to serve as nonexecutive chairman.

Benjamin served on the board from 1998 through 2003 and most recently since October 2005. Currently he’s a director of Caesars Entertainment Corp. and Chemtura Corp., and chairman of Spectrum Group International Inc.

“Since Mr. Miller led the group that acquired control of EXCO in 1997, his contributions to the organization have been significant,” Benjamin said. “The board has initiated a search to identify EXCO’s next chief executive officer. The search process will include a full review of both internal and external candidates.”

Miller attempted to take the company private in 2010 by offering to buy all outstanding shares he did not already own at $20.50/share, totaling $4.4 billion (OGJ Online, Nov. 3, 2010). However, his bid was rejected by the board the following year.

The company’s board also has approved a capital budget of up to $368 million for 2014.

Related Articles

PNR head urges DOC to issue condensate export permits to others

10/15/2014 The head of an independent oil and gas company that in late June received one of the first two federal approvals to export condensate urged the US ...

AMP acquires Costar Midstream for $470 million

10/15/2014 American Midstream Partners LP (AMP), Denver, has acquired Costar Midstream LLC from Energy Spectrum Partners VI LP and Costar management for $470 ...

Mountaineer Keystone adds Marcellus assets

10/15/2014 Mountaineer Keystone Energy LLC, Pittsburgh, has completed the acquisition of equity interests in PDC Mountaineer LLC, a 50-50 joint venture PDC En...

Russia likely to remain important European gas supplier, report says

10/15/2014 Europe’s natural gas supply mix likely won’t change much without drastic policy interventions despite recent renewed concern over instability in Uk...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected