28 March 2024
Zephyr Energy plc
("Zephyr" or the
"Company")
Zephyr announces additions to senior
management team
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF),
the Rocky Mountain oil and gas company focused on responsible
resource development from carbon-neutral operations, is pleased to
announce the following additions to its senior management
team:
·
Andy Lee has been appointed Chief Financial Officer
(U.S.)
·
Heather Hatfield has been appointed Chief Accounting
Officer
·
Ryan Walter has been promoted to Vice President -
Operations
All three officers are based in Denver,
Colorado.
The Company also announces the retirement of
its U.S. Financial Controller, Linette Purdum.
Colin
Harrington, Zephyr's CEO commented:
"We are
delighted to bolster our team with these three high calibre
appointments. Andy, Heather and Ryan bring significant energy
and operations expertise to our Denver-based team, and we look
forward to their contributions as we embark on the next phase of
intense corporate activity and growth.
"I would also
like to take this opportunity to thank Linette Purdum, our outgoing
U.S. Financial Controller, for her unwavering service to the
Company since 2015. Linette played a key role in the Group's
transformation in the U.S., and I wish her all the best for her
retirement."
Background
Andy Lee - Chief
Financial Officer (U.S.)
Andy has over 25 years' experience in the oil
and gas industry working in a variety of senior finance, drilling
and operational roles. As Chief Financial Officer (U.S.),
Andy will provide an enhanced link between Zephyr's Finance,
Operations and UK-based teams. In addition, Andy will manage
relationships with Zephyr's U.S. lenders, hedging counterparties
and strategic partners. He will work closely alongside Chris
Eadie, Zephyr's Group Finance Director and Company Secretary who
continues to be responsible for all reporting, compliance and
finance activity at the PLC level.
Andy began his energy career as a drilling and
production engineer at ExxonMobil in the Rocky Mountain region,
where he drilled natural gas wells in hard rock and high-pressure
high temperature environments similar to the Paradox Basin.
Additionally, Andy worked as a senior drilling engineer for
ExxonMobil in West Texas and the Gulf of Mexico prior to being
promoted to serve as lead drilling engineer on the $1.2 billion
Ringhorne platform in Norway, a greenfield platform that
successfully initiated production at 100,000 barrels per day and
was ExxonMobil's highest profile European drilling project at the
time.
Andy left ExxonMobil to pursue his MBA, after which
he worked on the finance side of the oil & gas business as a
public equity analyst, private equity investor, and M&A
principal. In 2019, he led the acquisition of Cat Canyon
Resources where he served as both Chief Financial Officer and later
as President. During his tenure at Cat Canyon, the company
grew from the 19th to the 10th largest oil
company in California in less than four years, growth which was
largely achieved through an active horizontal drilling
campaign. He holds BS degrees in Mechanical Engineering and
Political Science from the Massachusetts Institute of Technology
("MIT") and an MBA from the Wharton School.
Heather
Hatfield, Chief Accounting Officer
Heather has 23 years' experience in the
energy and public accounting sectors. Prior to joining
Zephyr, Heather was the Chief Accounting Officer at Cat Canyon
Resources, LLC from June 2019 to October 2023. Prior to this,
she served as Controller at Elk Petroleum, Chief Accounting Officer
at Venoco, LLC and as an Internal Audit Director at Venoco.
Heather began her career in public accounting serving clients in
various industries including oil and gas, manufacturing, and
telecoms.
Heather is a certified public accountant and
holds a Bachelor of Arts degree in business and accounting from
Western State College of Colorado and a Masters of Accountancy from
the University of Denver.
Ryan Walter, Vice President -
Operations
Ryan joined Zephyr in early 2023 as the Company's
Operations Manager before his promotion to Vice President -
Operations. Prior to joining Zephyr, Ryan worked for over a
decade at Whiting Petroleum (now Chord Energy) where he served in
various roles including drilling engineer, reservoir/reserves
engineer, senior operations engineer and joint interest
supervisor. During his time at Whiting, Ryan worked multiple
Rocky Mountain regions with particular emphasis on the Williston
Basin. Among other responsibilities, he managed the company's
relations with non-operated interest owners including Zephyr.
Ryan received his Bachelor of Science in Mechanical
Engineering from Purdue University. In his new role, he will
oversee Zephyr's field personnel and engineering team in addition
to facilitating work with Zephyr's regulatory and gas marketing
partners on the Company's project in the Paradox Basin, Utah.
Contacts:
Zephyr Energy plc
Colin Harrington (CEO)
Chris Eadie (Group Finance Director
& Company Secretary)
|
Tel:
+44 (0)20 7225 4590
|
Allenby Capital Limited - AIM Nominated
Adviser
Jeremy Porter / Vivek
Bhardwaj
|
Tel:
+44 (0)20 3328 5656
|
Turner Pope Investments - Joint Broker
James Pope / Andy
Thacker
|
Tel:
+44 (0)20 3657 0050
|
Panmure Gordon (UK) Limited -
Joint Broker
Hugh Rich / James
Sinclair-Ford
|
Tel:
+44 (0) 20 7886 2500
|
Celicourt Communications - Public Relations
Mark Antelme / Felicity Winkles /
Ali AlQahtani
|
Tel: +44 (0) 20 7770 6424
|
Notes to Editors
Zephyr Energy plc (AIM: ZPHR)
(OTCQB: ZPHRF) is a technology-led oil and gas company
focused on responsible resource development from carbon-neutral
operations in the Rocky Mountain region of the
United States. The Company's mission is rooted in two core values:
to be responsible stewards of its investors' capital, and to be
responsible stewards of the environment in which it
works.
Zephyr's flagship asset is an
operated lease holding of over 46,000 gross acres located in
the Paradox Basin, Utah, 25,000 acres of which has
been assessed to hold, net to Zephyr, 2P reserves of 2.6 million
barrels of oil equivalent ("mmboe"), 2C resources of 34 mmboe and
2U resources 270 mmboe.
In addition to its operated assets,
the Company owns working interests in a broad portfolio of
non-operated producing wells across the Williston
Basin in North Dakota and Montana. Cash flow
from the Williston production will be used to fund the
planned Paradox Basin development. In addition, the Board
will consider further opportunistic value-accretive
acquisitions.