Delta Petroleum Bids Farewell to Chairman, CEO
Delta Petroleum announced that Chairman and CEO Roger Parker has informed the Board of Directors that he is resigning from the Company.
"I am very proud of my 22 years at Delta," said Roger Parker. "I believe Delta is well positioned for the future and that this is the appropriate time for me to pursue new business interests. I am resigning my positions with Delta today and leave with great fondness for the Company and its employees, but will remain involved as a consultant for six months to assist in a smooth transition and to provide continuity."
The Board has formed a committee of independent directors tasked with searching for a new Chief Executive Officer. John Wallace will continue in his role as President and will function as the senior executive officer of the Company until a new CEO is identified by the Board.
Daniel Taylor, a Delta Petroleum Board member since February 2008 and a Tracinda Corporation executive, was elected Chairman of the Board. Tracinda currently owns approximately 34% of Delta's shares and is the largest shareholder of the Company. "I look forward to working as Chairman with Delta Petroleum's experienced management team as it works to capitalize on the significant untapped value inherent in its asset base and significant acreage positions," said Mr. Taylor.
Mr. Taylor stated, "On behalf of the Board of Directors, I wish Roger well in his future endeavors. Roger is a skilled oil and gas executive and his contributions to Delta Petroleum's growth have been considerable."
In addition to being a Director of Delta, Mr. Taylor has also served as a Director of MGM Mirage since March 2007. Previously, Mr. Taylor was the President of Metro-Goldwyn-Mayer Inc. ("MGM Studios") from April 2005 to January 2006 and Senior Executive Vice President and Chief Financial Officer of MGM Studios from June 1998 to April 2005.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally