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Energy XXI Announces Executive Leadership Change, Provides Corporate Update [Global Data Point](Global Data Point Via Acquire Media NewsEdge) Mr. Busmire has more than 34 years of experience in the oil and gas industry and financial markets. Most recently he was Chief Financial Officer of Venari Resources, a private equity backed Deepwater Gulf of Mexico exploration company. Prior to that, he was in key financial executive positions with Anadarko Petroleum Corporation for eight years, serving as Vice President of Finance and Treasurer, having served initially as Vice President and Chief Accounting Officer. Prior to his positions with Anadarko Petroleum, Mr. Busmire was Senior Vice President, Finance and Chief Financial Officer of Noble Corporation. Prior to his time at Noble, he was a founding member of Pickering Energy Partners (now Tudor Pickering Holt %7E Co.), an energy investment and merchant banking firm. He was Vice President of Investor Relations for Ocean Energy, a NYSE-listed company with operations in Deepwater Gulf of Mexico and West Africa, which was purchased by Devon Energy in February 2003. In the first 20 years of his career, he held various positions of increased responsibility in accounting and senior management at Amoco Corporation. Mr. Busmire holds a bachelor of business administration degree in accounting from Lamar University, a master of business administration degree from the Kellogg Graduate School of Management at Northwestern University, and has been a Certified Public Accountant since 1985. "We're pleased to welcome Bruce to the Energy XXI leadership team and are eager to leverage his financial experience working in the Gulf of Mexico," said John D. Schiller, Energy XXI Chairman, President and CEO. "I worked with Bruce while at Ocean Energy, and I experienced first-hand his financial and leadership talents. I'm excited about having Bruce on board as we execute our next stage of growth." "The Board of Directors of Energy XXI and I thank West for being an important part of the company's first 10 years," said Schiller. "West joined us in 2005 when EXXI was an idea and has been instrumental in our company's growth - we wish him well in his future endeavors." Operations Update The company realized a return of oil volumes that were impacted during the fiscal first quarter due to downtime experienced on two separate third-party pipeline operations. A pipeline at the non-operated Main Pass 311 field (50% WI / 41.7% NRI) is back online delivering 950 net barrels of oil equivalent per day (BOE/d). Additionally, the Williams natural gas pipeline at the Ship Shoal field (100% WI / 87.5% NRI), is back online this past weekend adding an additional 3,100 net BOE/d. (c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |