EPL's President and COO Retires, and Names New Executive VP and CFO
Energy Partners announced that Phillip A. Gobe is retiring as President and Chief Operating Officer, effective September 30, 2007. Mr. Gobe will continue to serve on EPL's Board of Directors. Richard A. Bachmann, EPL's Chairman and Chief Executive Officer, will assume Mr. Gobe's operational duties. EPL further announced that Joseph T. Leary has joined EPL as its Executive Vice President and Chief Financial Officer.
Bachmann commented, "Phillip has been an integral member of our management team and we've enjoyed an excellent working relationship since he joined EPL almost three years ago. His depth of experience after more than three decades in the energy industry has been a tremendous asset to the Company. Phillip has been instrumental in helping us build a deep bench of experienced individuals with extensive operational expertise. We have a strong slate of internal candidates that we will consider as candidates for Phillip's duties. I appreciate Phillip's commitment and contributions to EPL, and I am pleased he will continue to serve as a member of our Board of Directors and be available to us in that capacity."
Gobe said, "I've enjoyed my experience at EPL, working closely with Rick, my colleagues on the management team and the dedicated employees throughout the Company. My retirement was purely a personal decision reached by me and my family. I look forward to continuing to contribute to EPL's future through my service on the Board." The Company has named Joseph T. Leary as its Executive Vice President and Chief Financial Officer. Mr. Leary has over 24 years of energy industry experience and was most recently with KCS Energy, Inc. (KCS) serving as its Senior Vice President and Chief Financial Officer from 2003 until it was acquired by Petrohawk Energy Corporation. At KCS, he was responsible for corporate finance, accounting, treasury, insurance and information technology. Prior to his position with KCS, Mr. Leary was Vice President of Finance and Treasurer at EEX Corporation from 1996 until 2002. From 1983 until 1996, he was employed by Enserch Corporation in a variety of finance and treasury management positions. Prior to joining the energy industry, Mr. Leary was employed in the banking industry. He holds an M.B.A. from Pace University (New York) and a B.B.A in Finance from the University of Notre Dame (South Bend).
Richard A. Bachmann, EPL's Chairman and CEO, continued, "We are very excited to have Joe join our senior management team. His many years of finance and treasury experience in the energy industry and specifically in the E&P sector will be especially valuable to us. Joe is well respected in the industry and in the financial community and we welcome him to EPL."
Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana. The Company's operations are focused along the U.S. Gulf Coast, both onshore in south Louisiana and offshore in the Gulf of Mexico.
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