Bonanza Oil & Gas Elects Chief of Field Operations

Bonanza Oil and Gas has announced the addition of Mr. Preston "Skip" Croft as Chief of Field Operations.

Preston "Skip" Croft, founder and owner of Croft Production Systems, has over 30 years experience in all facets of oil and gas exploration and production, including related service industries. Mr. Croft began his career with Dresser Industries before serving in a number of increasingly responsible positions within Diamond M. Mr. Croft was offered the position as director of worldwide drilling at Diamond M when he made the decision to start his own company. Mr. Croft raised the necessary capital and drilled his first well at the age of 27.

In 1986, Mr. Croft founded Mid American Operating Company which operated both company-owned and third-party oil and gas wells. Prior to its sale in 1992 Mid American owned over 100 wells and operated an additional 800 third-party wells in Texas, New Mexico and Louisiana.

Mr. Croft has consulted, served as an expert witness and been involved in the start-up and growth of a number of successful companies in both the exploration and production and service sectors. He began work on the development of a proprietary solid desiccant passive dehydration system in 1986, for Mid American's use, and over the course of the next 20 years built ten such vessels. The first such PDS unit is still in service near Corpus Christi, Texas. In 2006, Mr. Croft began the commercial manufacturing of his passive dehydration unit and added the Croft PDS unit to a line of other production facilities leased by Croft Production Systems. In September of 2006 Mr. Croft sold Continental Services, after doubling its profit in less than 10 months.

A 1975 graduate of Sul Ross State University in Alpine, Texas, he holds a Bachelor of Science degree in Petroleum Geology and Physics.
Skip's experience and knowledge of field operations allow Bonanza to control its field operations on its properties creating efficiency and added value.

"Skip's expertise and ability add tremendously to the team assembled for Bonanza," said Bill Wiseman, President and CEO of Bonanza Oil & Gas, Inc.



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