Cimarex Energy Announces Executive Promotions
DENVER, Aug. 29, 2011 /PRNewswire/ — Cimarex Energy Co. (NYSE: XEC) announced today that its Board of Directors has implemented its succession plan and has named Thomas E. Jorden as President and Chief Executive Officer, and also appointed Joseph R. Albi as Executive Vice President and Chief Operating Officer. F.H. Merelli, currently Chairman, President and Chief Executive Officer, will remain Chairman of the Board of Directors and will focus on the long-term strategy. The transition will be effective September 30, 2011. Mr. Jorden and Mr. Albi will also become members of Cimarex’s Board of Directors. Stephen P. Bell, Senior Vice President – Business Development & Land, continues to lead the Company’s acquisition, divestiture and business development activities.
Mr. Merelli founded Key Production Co. as a going concern in 1992. Key Production later merged with Helmerich & Payne’s exploration and production subsidiary in 2002 to form Cimarex. Regarding the executive promotions Mr. Merelli commented, “Growing Cimarex over the last twenty years has been tremendously rewarding. The management team we assembled in the early 1990s, including Tom Jorden, Joe Albi and Steve Bell, has worked together along with many outstanding loyal employees to create a Company that is in great financial shape and positioned with outstanding future potential. I am extremely confident Cimarex’s greatest days lie ahead.”
Mr. Jorden has been with Cimarex since it was formed in 2002 and its predecessor Key Production since 1993 most recently serving as Executive Vice President – Exploration. Since Cimarex was formed Mr. Jorden has headed up the Company’s exploration and development drilling programs. A graduate of the Colorado School of Mines, Mr. Jorden has over 30 years of experience in the oil and gas industry.
Mr. Albi has been with Cimarex since it was formed in 2002 and its predecessor Key Production since 1994 most recently serving as Executive Vice President – Operations. Mr. Albi has overseen the Company’s operations programs, which include drilling, production and marketing. A graduate of the Colorado School of Mines, Mr. Albi has over 30 years of experience in the oil and gas industry.
About Cimarex Energy
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operations in the Mid-Continent, Permian Basin and Gulf Coast areas of the U.S.
This communication contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are more fully described in SEC reports filed by Cimarex. While Cimarex makes these forward-looking statements in good faith, management cannot guarantee that anticipated future results will be achieved. Cimarex assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
SOURCE Cimarex Energy Co.