Australia-focused oil and gas explorer New Standard Energy Limited (New Standard) announced Tuesday that H.C. Kip Ferguson III has been appointed as a non-executive director of the Company.
Ferguson brings to New Standard and its Board of Directors more than 24 years of onshore exploration and development experience in several major United States oil and gas basins. He is also currently the executive vice president of Exploration at Magnum Hunter Resources Corporation (Magnum Hunter).
Ferguson is joining the Company during a transition period as Dr Mark Hagan has expressed his desire to step-back from his role as a non-executive director. The Board accepted the resignation of Dr Hagan, who indicated some time ago his desire to spend more quality time with his family.
Dr Hagan was a founding member of New Standard and the driving force behind the acquisition of the company’s Western Australian acreage.
New Standard Energy Chairman Arthur Dixon said he was looking forward to utilizing Ferguson’s technical knowledge and experience to advance New Standard’s Australian portfolio.
“New Standard will benefit from having Kip on board. He has an impressive portfolio of experience, especially in project development and the process of moving acreage from an exploration to development phase and that skillset is highly transferrable across our entire portfolio,” Dixon said.
“Kip has gathered extensive knowledge of the Cooper Basin, and that knowledge will be invaluable during the exploration and development of New Standard’s new acreage in that basin.”
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