Energy Players

May 1, 2005
Hugh Idstein has joined Dune Energy Inc. as the company’s CFO.

Dune Energy chooses Hugh Idstein as CFO

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Hugh Idstein has joined Dune Energy Inc. as the company’s CFO. He replaces Richard Cohen in that position. Cohen will remain with the company in a managerial role until his employment contract expires on May 31 and will assist Idstein in the transition. Dune CEO Alan Gaines said that he was looking for a CFO with a strong background in the oil and gas sector and also someone to reside in the company’s Houston headquarters. Cohen had been based in the company’s New York office. Prior to joining Dune, Idstein served as CFO of Black Stone Minerals Company, LP, an oil and gas exploration company. He earned an MBA and a BS degree in energy management from Eastern Illinois University, Charleston, Ill. Dune Energy is an exploration and production company with operations presently concentrated in Texas.

Vladimir Kolavski appointed president of Apollo Eurasia

Dallas-based Apollo Resources International Inc., a public energy company focused on the acquisition and development of upstream oil and gas assets, has named Vladimir Kolavski as president of its wholly-owned subsidiary, Apollo Eurasia Inc., which recently completed the acquisition of 90 percent interest in Kaliningradneft, a Russian oil production company for which Kolavski served as chairman for six years. In his new role, Kolavski is responsible for the oversight and management of Kaliningradneft’s current oil production, as well as planned oil and gas acquisitions to increase Apollo Eurasia’s reserve base. The company will focus on oil and gas acquisitions and related opportunities, primarily in Russia, the Commonwealth of Independent States (CIS), and Eastern Europe. He will also join the board of directors of the parent company, Apollo Resources International. Kolavski is a co-founder of Kaliningradneft and has served the firm in an executive capacity since its inception. Following his graduation from the Russian Military Academy, Kolavski served 25 years in the Russian military and was honorably discharged with the rank of colonel.

Evan Templeton to cover energy sector for Jefferies

Jefferies & Company Inc., the principal operating subsidiary of Jefferies Group Inc., has hired Evan S. Templeton as a senior vice president and senior research analyst in its high yield division. He will follow exploration and production, oil service, and refining companies as part of the firm’s overall focus on the energy sector. With the addition of Templeton, Jefferies and its affiliates in Europe now have 10 senior analysts covering energy companies. Templeton has covered the energy sector for more than 10 years. Prior to joining Jefferies, he was a director and co-head of high yield research at Royal Bank of Canada Capital Markets/RBC Dain Rauscher, and a senior research analyst covering the energy sector for five years. Previously, he held similar positions at BancBoston/Fleet Securities and Chemical/Chase Securities. He holds a BA degree from Franklin & Marshall College in Lancaster, Pa. New York-based Jefferies acquired global oil and gas advisor Randall & Dewey in February.

Parker Drilling makes management changes

W. Kirk Brassfield has been named vice president, finance and accounting, with responsibility for accounting, tax, and treasury and investor relations at Parker Drilling Company. He reports to Jim Whalen, Parker’s CFO. Brassfield has more than 26 years’ experience in finance and accounting. He joined Parker in 1998 as controller and principal accounting officer. Previously, he served in various key financial positions at MAPCO Inc., and before that served at the public accounting firm of KPMG. He holds a BS degree in accounting from the University of Tulsa. The company also has promoted Lynn G. Cullom to controller. Cullom has 27 years of experience in financial accounting and joined Parker Drilling in 2004 as director of corporate planning. Prior to that, she was with El Paso Corporation, which merged with Coastal Corporation in 2001. For 21 years with Coastal Corporation, she held various accounting positions, including vice president of financial reporting and planning for Coastal Mart, a Coastal subsidiary. Cullom received a BA degree in journalism and an MBA in accounting from Texas A&M University. Additionally, she earned a law degree from the University of Houston. She is a CPA in the state of Texas.

Scott Espenshade heads corporate development, investor relations for Swift

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Swift Energy Company has promoted Scott Espenshade to director of corporate development and investor relations. He joined Houston-based Swift - an independent oil and gas company engaged in the exploration, development, acquisition, and operation of oil and gas properties with a focus on onshore reserves in the United States and New Zealand - in March of 2001 as director of investor relations. Prior to joining Swift, Espenshade was in Washington, DC, with the Independent Petroleum Association of America (IPAA) since 1991 in several positions, most recently serving as vice president of economics and information services. Outside of Swift Energy, Espenshade serves as chairman of IPAA’s Oil & Gas Investment Symposium, as well as a member on IPAA’s International Steering Committee, and Supply and Demand Committee. He is a member of the National Investor Relation Institute, the Petroleum Investor Relations Association, the International Association of Energy Economists, and the National Association of Business Economists. Espenshade was previously employed as a contractor on-site at the Energy Information Administration (EIA) where he was responsible for analyzing petroleum prices and market trends. He graduated from Pennsylvania State University with a BS degree in mineral economics.

Enterprise Products announces changes to its board of directors

Houston-based Enterprise Products GP LLC, the general partner of Enterprise Products Partners LP, has made several changes to its board of directors. E. William Barnett was elected as a director, and Ralph S. Cunningham and Lee W. Marshall Sr. have resigned from the board. Following these changes, the directors of the board of Enterprise’s general partner are Dan L. Duncan, chairman; O. S. “Dub” Andras, vice chairman; Robert G. Phillips, president and CEO; W. Matt Ralls; Richard S. Snell; and Barnett. Barnett practiced law with Baker Botts LLP from 1958 until his retirement in 2004. In 1984, he became managing partner with Baker Botts and continued in that role for 14 years until 1998. He was senior counsel to the firm from 1998 to June 1, 2004, when he retired from the firm. He is chairman of the board of trustees of Rice University, a life trustee of the University of Texas Law School Foundation, a director of St. Luke’s Episcopal Health System, a director of the Center for Houston’s Future, and a current director and former chairman of the board of directors of the Houston Zoo. He also served as a trustee of Baylor College of Medicine from 1993 until 2004. He currently serves as a director of Reliant Energy Inc. He is also a director and former chairman of the Greater Houston Partnership. Enterprise Products Partners LP is one of the largest publicly traded energy partnerships with an enterprise value of more than $14 billion.

Following acquisition, TEPPCO shakes up its board of directors

Texas Eastern Products Pipeline Company LLC, the general partner of TEPPCO Partners LP, has made significant changes to its board of directors following the recent acquisition of TEPPCO’s general partner by EPCO Inc. from Duke Energy Field Services LLC. The newly elected board is comprised of a majority of outside directors who are independent under the criteria of the New York Stock Exchange and the US Securities and Exchange Commission. The newly elected directors are Ralph S. Cunningham, Lee W. Marshall Sr., Murray H. Hutchison, and Michael B. Bracy. Barry R. Pearl will continue to serve TEPPCO’s general partner as CEO, president, and as a director. Cunningham - who retired in 1997 from CITGO Petroleum Corp., where he had served as president and CEO since 1995 - has been named chairman of the board. Marshall has been the managing partner and principal owner of Bison Resources, a privately held oil and gas production company, since 1993. Hutchison is a private investor managing his own portfolio and a former chairman and CEO of the IT Group. Bracy served as a director for the general partner of GulfTerra Energy Partners until it merged with Enterprise Products Partners in September 2004. Jim W. Mogg, Mark A. Borer, Michael J. Bradley, Milton Carroll, Derrill Cody, John P. DesBarres, William H. Easter III, and Paul F. Ferguson Jr., who had been elected to the board of the general partner by Duke Energy Field Services, have resigned.

Cheniere Energy expands management team, Horton named president and COO

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Houston-based Cheniere Energy has appointed Stanley C. Horton to the position of president and COO of the company, which is engaged in developing LNG receiving terminals as well as exploration and production in the Gulf of Mexico. Horton has more than 30 years of experience in the natural gas and energy industry. Most recently, he served as president and COO of Southern Union’s CrossCountry Energy and Panhandle Energy, which owns and operates 18,000 miles of interstate pipelines and the Lake Charles (Louisiana) LNG receiving terminal. Horton also has chaired the Gas Industry Standards Board (GISB) and the Natural Gas Council. Previously, he served on the board of directors for Portland General Electric and the board of directors for Elektro Eletricidade e Servicos SA. He was a member of the Northern Border Partners’ policy committee. Horton received a BS degree in finance from the University of Florida and a MS degree from Rollins College, Winter Park, Fla.

KCS Energy elects new board member

Gary W. Merriman has been selected by the board of directors of Houston-based KCS Energy Inc. to serve as a director of the company. He fills the vacancy left by James L. Bowles, who resigned in October 2004 to accept the position as president of Conoco-Phillips Alaska. Merriman retired from Conoco Inc. in 2002, where he had been employed since 1976. While at Conoco, he held a number of positions, including president of exploration and production for Conoco in the Americas. Prior to that, he was general manager for Conoco’s refining and marketing Rocky Mountain region, president of Conoco Indonesia, and general manager of North Sea operations for Conoco UK Limited. He has more than 26 years of international and domestic experience in all aspects of the oil and gas business. KCS is an independent energy company engaged in the acquisition, exploration, development, and production of natural gas and crude oil with operations in the Mid-Continent and Gulf Coast regions.

Enbridge taps David Arledge as chairman of board of directors

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Calgary-based Enbridge Inc., a leading transporter of energy in North America and internationally, has chosen David A. Arledge as chairman of its board of directors effective May 5, 2005, subject to his re-election to the board at the company’s annual and special meeting of shareholders on that date. He succeeds Donald J. Taylor, who is retiring as chairman after nine years in the position and 26 years as a director of Enbridge. Arledge joined the Enbridge board in 2002 and is a member of the audit, finance and risk committee and human resources and compensation committee. He served in a variety of executive positions at Coastal Corporation from 1983 to 1993 and in senior executive and operating positions at Coastal until he retired as chairman, president, and CEO in early 2001. He also served as vice-chairman of the board of directors of El Paso Corporation following the merger of Coastal and El Paso in early 2001, leaving the company in November 2001.

Michael Wiley chosen to serve on Tesoro’s board of directors

Tesoro Corp., headquartered in San Antonio, has increased the size of its board of directors from seven to eight members and has elected Michael E. Wiley as the newest board member. Wiley has 33 years of experience in the energy industry, most recently as chairman and CEO of Baker Hughes Inc. Prior to Baker Hughes, he was president and COO of Atlantic Richfield Co. He also served as chairman, president, and CEO of Vastar Resources Inc., an independent oil and gas company. Wiley also is a director of Spinnaker Exploration, Bill Barrett Corp., and Post Oak Bank NA. He is a trustee of the University of Tulsa and a member of the National Petroleum Council. He also serves on the advisory board of Riverstone Holdings LLC. Tesoro, a Fortune 500 company, is an independent refiner and marketer of petroleum products.

CMS Energy nominates Gabrys, Lochner to serve on company’s board

Richard M. Gabrys, a former vice chairman of Deloitte & Touche’s US Global Strategic Client Group, and Philip R. Lochner Jr., a former member of the US Securities and Exchange Commission, have been nominated to serve on the CMS Energy board of directors. Gabrys retired in May 2004 after a 42-year career with Deloitte & Touche. He currently serves on several boards, including those of Dana Corp., the Detroit Institute of Arts, the Karmanos Cancer Institute, and the Manufacturers Institute. He also has served on the board of the National Association of Manufacturers and was board chairman of the Detroit Regional Chamber of Commerce and the Michigan Chamber of Commerce. Lochner joined Time Inc. in 1978 and held a series of increasingly responsible positions, including general counsel and secretary, and was appointed to the US Securities and Exchange Commission. After his service as a commissioner, he left to become senior vice president and chief administrative officer of Time Warner Inc. until his retirement in 1998. Lochner is a director of several public companies and has been involved in various capacities on the governing or advisory bodies of the New York Stock Exchange, the American Stock Exchange, the National Association of Securities Dealers, the Investor Responsibility Research Center , and the National Association of Corporate Directors. The nominations of Gabrys and Lochner will be submitted to shareholders for approval at CMS Energy’s annual meeting on May 20, 2005. The company also announced that William A. Parfet, a board member since 1991, has decided not to seek re-election because of increasing demands from his business, MPI Research. CMS Energy, headquartered in Jackson, Mich., is an integrated energy company that operates gas and electric utilities, natural gas pipeline systems, and independent power generation.