Energy XXI Gulf Coast, Inc. (ticker: EXXI) has appointed Douglas E. Brooks as its CEO and president, effective April 17, 2017, the company announced in a news release. The Energy XXI Gulf Coast Board of Directors concurrently increased the size of EGC’s board from six to seven directors and named Brooks to fill the newly-created directorship.
Brooks served most recently as the CEO for Yates Petroleum Corporation, a privately-owned exploration and production company that merged with EOG Resources (ticker: EOG) in October 2016.
Previously Brooks served as CEO of Aurora Oil & Gas Limited, as SVP at Forest Oil Corporation and he spent 24 years with Marathon Oil Company (ticker: MRO), leaving as the director of upstream mergers and acquisitions and business development for the Americas. Brooks has also built two private equity-sponsored firms focused on unconventional resource projects in the western U.S.
Doug Brooks serves on the Chaparral Energy, Inc. Board of Directors and has served as a board member for Aurora Oil & Gas Limited, Magdalena Energy Company, Yates Petroleum and the Houston Producers’ Forum.
Energy XXI Gulf Coast Chairman Michael S. Reddin said, “On behalf of our board of directors, we are extremely pleased to welcome Doug Brooks to assume our senior leadership role at Energy XXI. Doug’s impeccable reputation, extensive industry experience and clear track record of value creation as chief executive at other exploration and production companies make him the perfect fit for our company. His skills are also highly complementary to those of Scott Heck, our chief operating officer, who has an extensive offshore, engineering and operations background. We look forward to having the powerful combination of Doug and Scott at the top of Energy XXI.”
Preng & Associates managed CEO search
Preng & Associates was retained by the Energy XXI Gulf Coast Board of Directors to find the most qualified c-level industry veteran to lead the company. Preng & Associates President and CEO David Preng said, “We were very pleased to have assisted a very active and aggressive board in recruiting Doug Brooks as Energy XXI’s new CEO. It was a challenging assignment and a real pleasure partnering with the Energy XXI board members, who worked extremely hard to ensure a successful outcome.”
Energy XXI Gulf Coast is the successor company when Energy XXI emerged from Chapter 11 in December 2016. Energy XXI Gulf Coast reported daily production volumes averaged 42.9 MBOEPD (72% oil) for the six months ended December 31, 2016. The company held interests in 616 gross producing wells, 439,294 net developed acres, and 57 producing fields at its fiscal year-end of December 31, 2016.
Source: Oil & Gas 360