Superior Offshore Accepts Resignation of Certain Directors, Officers
Superior Offshore International, Inc. announced that James Perskey, Leon Codron and E. Donald Terry have resigned from the Company's board of directors. Mr. Terry also resigned as the Company's president and chief executive officer. Thomas E. Damon has resigned as the Company's executive vice president and chief financial officer, and Steven J. Singer has resigned as the Company's executive vice president and general counsel. Wayne M. Rose has resigned as the Company's senior vice president - commercial and David Weinhoffer has been terminated as the Company's executive vice president; however Mr. Rose and Mr. Weinhoffer each have been rehired by the Company to assist in the wind-down process.
The Company's board of directors has appointed H. Malcolm Lovett, Jr. as a director and as its chief restructuring officer. In that capacity, Mr. Lovett will perform the duties and assume the responsibilities of the president of the Company.
Strategic Capital Corporation, a company controlled by Mr. Lovett, has been engaged to provide financial advisory and restructuring services to the Company.
As a result of the resignations of the directors and officers described above and the appointment of Mr. Lovett as a director and chief restructuring officer, the Company's board of directors currently consists of Mr. Lovett and Eric Smith, and Mr. Lovett is the only executive officer of the Company.
Company has ceased all ongoing operations other than those deemed necessary to ensure (i) the public safety; (ii) the health and safety of the Company's employees; and (iii) an orderly transition of certain projects to its customers. All of the Company's employees have been terminated except for those necessary to assist in the wind-down of the Company's affairs.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea