Apache Corp.’s founder and chairman Raymond Plank, 86, retired recently after 54 years. G. Steven Farris, Apache’s president, CEO, and COO since 2002, succeeds Plank as chairman. Commenting on Plank’s departure, Farris said, “Raymond Plank is Apache. His commitment and drive are embedded in the fabric of Apache’s culture.” From initial seed capital of $250,000 in 1954, under Plank’s leadership Apache’s market value has grown to approximately $25 billion. In the 1950s, Plank and Apache pioneered the public drilling program business. With oil and gas commodity prices regulated at low levels during the 1960s, Plank built Apache into a mini-conglomerate. During the 1970s, Apache affiliate Apexco grew as valuable as the entire company, leaving Apache vulnerable to hostile takeovers. Instead of selling its other businesses, Plank sold Apexco and used the added financial muscle to speed the company ahead. In 1981, the Plank team created the world’s first master limited partnership, which provided Apache with acquisition currency during the industry downturn of the 1980s. In the early 1990s, Apache fine-tuned its “acquisition and exploitation” strategy. Apache under Plank’s leadership opted to pay down debt and build cash balances in preparation for the resumption of growth through increased acquisition, exploration and exploitation activity. “It’s been a great run,” Plank said. “I leave Apache with cash on hand, debt under 20% of capitalization, quality properties, operations diversified across five continents, and motivated, capable personnel who have grown with the company.
Marsh appoints Sparks US downstream leader of global energy practice
Marsh, an insurance broker and risk advisor, has hired Kevin Sparks as a managing director and US downstream leader of the Global Energy Practice. Sparks has more than 30 years of insurance industry experience. He joins Marsh from Willis Global Energy. He has a bachelor’s degree from The University of Texas at Austin. He will be based in the company’s Houston office.
Compton Petroleum namesGranger president, CEO
Compton Petroleum Corp. has appointed Tim Granger to president and CEO. He will also be appointed to the board of directors. He most recently held the office of vice president, asset optimization and COO at Paramount Energy Trust and prior to that managing director of TAQA North. He has more than 27 years of industry experience. Granger graduated from Carleton University with a bachelor’s degree.
McKay to succeed Malonein leading BP America
Lamar McKay has been appointed chairman and president of BP America Inc. and will serve as BP’s chief representative in the US. He will succeed Robert A. Malone who has elected to retire after 34 years with the company. McKay, a member of the BP plc executive management team, has led the company’s special projects team since early 2008. He holds a bachelor’s degree from Mississippi State University. He will be based in Houston.
ARKeX strengthens board, management team
ARKeX, a provider of geophysical imaging technology, has strengthened its board of non-executive directors and its management team with the appointment of Jim Sledzik to its board and Stuart Gibson as CFO. Sledzik brings 18 years of experience in the oil and gas industry from Schlumberger/WesternGeco. He was the former global marketing and new technology director and also vice president of multi-client services at WesternGeco.
Livingston, Rosas promotedto partner at Burleson Cooke
Burleson Cooke has announced that David Livingston and Christopher Rosas partners at the Houston-based energy law firm. Livingston concentrates his practice primarily in the area of complex real estate transactions, while Rosas focuses on oil and gas law and commercial litigation. Both previously served as senior counsel for the firm. Livingston has more than 30 years of experience practicing real estate law. He earned his undergraduate degree from Princeton and his law degree from the University of Texas School of Law. Rosas has represented large, publicly owned companies and independent oil and gas companies in transactional and commercial matters. Rosas earned his undergraduate degree from Texas A&M University and his law degree from the University of Denver College of Law.
Alliance Engineering promotes Ward to GM, onshore business
Alliance Engineering, part of international energy services company John Wood Group PLC, has promoted Terry A. Ward to general manager of its Onshore Business Unit in Houston. He has more than 30 years’ experience in the oil and gas industry. He has been with Alliance since 2006, most recently as project director.
Meridian names Ching interim CEO
Paul Ching, Meridian Resources Corp.’s current chairman, will also serve as the company’s interim CEO until a successor is named. Meridian is an independent oil and natural gas company engaged in the exploration, exploitation, acquisition, and development of oil and natural gas in Louisiana, Texas, and the Gulf of Mexico.
Transmeridian CEO resigns post; two board members made restructuring officers
Transmeridian Exploration Inc.’s CEO, Lorrie T. Olivier, has resigned his position as CEO and has stepped down as chairman of Transmeridian’s board of directors, although he retains his membership on the board. Gary Neus and Fred Zeidman, current members of the Transmeridian board, have agreed to accept positions as co-chief restructuring officers and Zeidman will assume chairmanship of the board. They will exercise the entire executive management function over all of Transmeridian’s operations and assets.
Bonanza Creek Energy adds Goehring as executive VP, CFO
Ralph Goehring has joined Bonanza Creek Energy Co. LLC as executive VP and CFO. Goehring previously served as CFO of Berry Petroleum Co. from 1992 through May 2008. Goehring holds a bachelor’s degree from the University of California, Berkeley. Bonanza Creek Energy Co. LLC is an independent energy company based in Bakersfield, Calif.
Bracewell & Giuliani expands energy practice, environmental group
David M. Perlman has joined Bracewell & Giuliani LLP’s Washington DC office as a partner in its energy practice. Most recently, Perlman was chief counsel to Lehman Brothers Commodities business in New York. He became counsel to Barclays Capital upon its acquisition of some of Lehman’s businesses. Michael D. Olsen has joined the firm’s Washington DC office, where he will work as counsel in the firm’s Environmental Strategies Group. Olsen will advise companies and business groups on a wide range of energy development, natural resources, and environmental issues. Prior to joining Bracewell & Giuliani, Olsen served at the Department of the Interior, most recently as Deputy Assistant Secretary for Land and Minerals Management.
Bautista succeeds Vitekas Carbo Ceramics CFO
Irving, Tex.-based Carbo Ceramics Inc. has appointed Ernesto Bautista III as vice president. He has also assumed the position of CFO after Paul G. Vitek’s retirement. Bautista most recently served as vice president and CFO of W-H Energy Services Inc. He earned a bachelor’s degree and a master’s degree from Rice University.
Chris Boswell steps downas Particle Drilling CFO
J. Chris Boswell has resigned from his position as senior vice president, CFO, and treasurer of Particle Drilling. Jason Davis has assumed the role of interim CFO. Davis joined the company as vice president and controller in July 2006. Davis obtained his bachelor’s degree from the University of Houston.
Quest elects CFO
The boards of directors of Quest Resource Corp. and of the general partner of Quest Energy Partners LP have elected Eddie M. LeBlanc as CFO of the entities. LeBlanc has served as executive vice president and CFO of Ascent Energy Co., an independent, private oil and gas company, from July 2003 until it was sold to RAM Energy Resources in November 2007. He earned a bachelor’s degree from the University of Southwestern Louisiana. LeBlanc replaces Jack T. Collins, who was appointed Interim CFO in September 2008. Collins will continue in the role of executive vice president finance/corporate development of the Quest entities.
Davis joins Mayer Brown’s tax transactions practice
Jeffrey G. Davis has joined the Washington, DC office of Mayer Brown LLP as a partner in the tax transactions practice. Davis is a tax lawyer who concentrates in tax credit transactions. Prior to joining Mayer Brown, Davis was a partner at McKee Nelson LLP, where he advised numerous equity investors, developers, and utilities in a multitude of various energy-related transactions. He received an LLM from Georgetown University Law Center. He received his JD from Pepperdine University School of Law, and his bachelor’s degree from Lipscomb University.
