Surge Energy US Holdings Co. on Sept. 21 said J. Phillip (Phil) Webb, who has served as COO since the founding of the company, has elected to retire from the company.
“It has been an honor to serve as COO of Surge since its founding,” Webb commented in a release by the Houston-based company. “The commitment, effort and perseverance of our employees is greatly appreciated and has enabled us to continually achieve outstanding results over the past six years.”
Surge Energy America was formed in early 2015 as a U.S. subsidiary of China-based Shandong Xinchao Energy Corp. Ltd., a publicly traded company on the Shanghai Stock Exchange, with a strategy to build a sustainable U.S. oil and gas company.
Webb joined Surge Energy as COO in May 2015 with roughly 36 years of domestic and international oil and gas experience. Prior to joining Surge, he had served as vice president east region at Denbury Resources following a 31-year tenure at ConocoPhillips Co.
Since 2015, Surge Energy has built a footprint in West Texas, with operations in two oil fields, both in the northern Midland Basin of the Permian. The company built onto its position earlier this year through a $420 million acquisition of leasehold interest and producing wells from private equity-backed Grenadier Energy Partners, which closed in March.
In a statement on Sept. 21 commenting on Webb’s retirement, Surge CEO Linhua Guan also added: “I would like to thank Phil for his significant and outstanding contributions to Surge. Phil’s leadership has been instrumental in the success of Surge as well as the development of culture and values of the company.”
Webb will remain as COO until his retirement on Dec. 31. Following his retirement, a portion of the COO responsibilities will be handled by Vice President of Development Chris Alonzo, Vice President of Operations Joe Fleming and Chief Geologist CJ Liu.
Effective Jan. 1, Alonzo, Fleming and Liu will begin reporting to the CEO and in combination will have the responsibility to lead the asset development, operations and exploration for Surge.
Also, effective Jan. 1, Travis Guidry will be promoted vice president of corporate development and investor relations and oversee strategic planning, A&D and investor relations. In his new role, Guidry, currently director of corporate development, will continue to report to the CEO.
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