Vaalco Energy Inc., Houston, has named George Maxwell as chief executive officer, effective Apr. 12, succeeding Cary Bounds, who, after serving as chief executive office since 2016, will leave the company to pursue other interests.
Maxwell, who has been a non-executive director of the company since June 2020 and resides in the UK, will continue to serve as a member of the board.
The company will increase its presence in the UK and international markets, the primary financial and advisory hub for African energy companies, it said as part of the Apr. 12 release. Further to its dual listing on the London Stock Exchange, Vaalco intends to open a business development office in London and appoint a permanent chief financial officer to be based in the new office. Maxwell is expected to split his time between Houston and London.
Maxwell has over 25 years of experience in the oil and gas industry. He founded Eland Oil & Gas PLC in 2009 and served as the company’s chief executive officer from September 2014 to December 2019, chief financial officer from 2010 to 2014, and as a member of the board from 2009 to 2019, until the company was acquired by Seplat Petroleum Development Co. PLC in December 2019.