New Gulf Resources appoints chief executive officer
New Gulf Resources LLC, Tulsa, has appointed Ralph A. Hill as chief executive officer and chairman of its board. He previously served as chief executive officer and president of WPX Energy Inc.
Tracy Poole, current chief executive officer and company co-founder, will remain with NGR as its president.
With new management in place, NGR intends to focus on operations in East Texas, where the company has developed and sold two large horizontal oil plays.
The company said it recently contracted to acquire another large position in the play with a substantial amount of current production and multiple years’ worth of development drilling inventory. The acquisition would boost the company to more than 90,000 net mineral acres under lease in East Texas and more than 3,700 boe/d in production.