By Chelsea Stevenson
Denbury Resources Inc. (DNR) named Craig McPherson, its former senior vice president of production and operations, as chief operating officer and Charlie Gibson, its former vice president of the western region, as the new senior vice president of planning, technology and business development.
Mr. McPherson has more than 30 years of experience in the oil and natural gas industry. He worked with ConocoPhillips (COP) in managerial and technical roles and joined Denbury in 2011. Mr. Gibson joined the company almost a decade earlier and since then he has served a variety of positions.
"Both [McPherson and Gibson] have demonstrated tremendous leadership and their promotions provide the structure to execute the continued expansion of our carbon dioxide enhanced oil recovery strategy," Chief Executive Phil Rykhoek said.
In May, the independent oil and gas company beat analysts' expectations and swung to a profit, as its revenue and production increased, while its derivative expenses fell. Earlier this month, Denbury closed a Gulf Coast acquisition in Texas in an effort to increase its oil production estimates.
Shares closed at $13.70 on Thursday and are inactive premarket. The stock is down 25% in the past three months.
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