Following the closing of BP's purchase of the interests in Vastar Resources Inc. that it didn't obtain when it acquired ARCO (OGJ Online, Sept. 18, 2000), some of the Houston-based independent exploration and production firm's executive personnel have taken on new roles at other companies.
Former Vastar Pres. and CEO Charles "Chuck" Davidson has been named president and CEO of Noble Affiliates Inc., Ardmore, Okla. Davidson served as Vastar's CEO executive from 1997 until the BP-ARCO merger. During 1994-97, Davidson was senior vice-president, production, for Vastar and held various other positions with ARCO from 1972-94.
Davidson replaces Robert Kelley, who has been Noble Affiliates's president and CEO since 1986. Kelley will remain with the company as chairman through April 2001, at which time he will retire from the company and its board.
Shortly following Davidson's appointment, financial analyst Dain Rauscher Wessels Inc. issued a favorable report, saying that the move would "be loudly applauded by Wall Street."
"...Davidson led Vastar to a position of prominence in the industry and established an excellent track record in the Gulf of Mexico (an area of focus for Noble)," the analyst said. "With this appointment, the cloud of uncertainty regarding the vacant leadership position has been lifted, in our opinion."
"Chuck Davidson is an experienced oilman with a successful record of leadership at Vastar and ARCO," Kelley said.
Pamela Pierce has been named CEO and president of Southern Energy Inc.'s energy capital group, based in Houston. Pierce comes to Southern Energy with 7 years of experience at Vastar, most recently serving as vice-president, business development, where she was responsible for mergers, acquisitions, and divestiture activity. Before this, she served as Vastar's business unit manager for the Gulf of Mexico.
Before working for Vastar, Pierce held various positions at ARCO Oil & Gas Co. and ARCO Alaska Inc., including vice-president, safety, health, environmental, and external affairs; operations and technical services manager; manager, purchasing and materials; and production superintendent and drilling superintendent at Prudhoe Bay, Alas. Pierce began her career with ARCO as a drilling engineer.
Recently, Southern Energy completed the $250 million acquisition of Vastar's 40% interest in Southern Co. Energy Marketing (SCEM); the purchase makes the company wholly owned by Southern Energy. The two firms-Vastar and Southern Energy-will continue with a 10-year natural gas purchase and sale agreement established when the two formed SCEM in August 1997.
Daniel D. Hawk has joined Burlington Resources Inc., Houston, as vice-president and treasurer. Most recently, Hawk served as treasurer for Vastar until the completion of its merger with BP. He comes to Burlington-where he will be accountable for all treasury functions, including credit and risk management-with more than 22 years of treasury experience.
Jeffrey M. Bender has been named vice-president, human resources for Apache Corp., Houston. Bender held the same position at Vastar, where he worked to manage that company's conversion from an operating division of ARCO to an independent firm following Vastar's initial public offering in mid-1994. Before working for Vastar, Bender had held various positions with ARCO since 1975.