DENVER, Aug. 16, 2016 /CNW/ -- Crestone Peak
Resources ("Crestone" or the
"Company") announces Tony Buchanon
is joining as Chief Executive Officer ("CEO") of Crestone, effective August 8, 2016. Buchanon has also been named to
the Company's Board of Directors.
"Tony's experience in building organizations and operational
focus make him a perfect fit to lead Crestone Peak Resources," said
Avik Dey, Chairman of the Board at
Crestone and Managing Director and
Head of Natural Resources at Canada Pension Plan Investment Board.
"Under his leadership, Crestone
will grow to be a leading independent in one of the best oil and
natural gas plays in North
America."
Buchanon has extensive experience in the development of the DJ
Basin in Colorado, having most
recently served as Executive Vice President, Chief Operating
Officer at Bonanza Creek Energy (NYSE: BCEI), and previously as
Production Operations Manager for Noble Energy, Inc.
Buchanon brings more than 34 years of industry experience to his
new role as CEO. Before focusing on the DJ Basin, he served in a
variety of management roles for Rosetta Resources Inc., Trend
Exploration Company, Burlington Resources Inc. (now
ConocoPhillips), and Mobil Exploration and Production (now
ExxonMobil Corporation).
"I welcome the opportunity to lead Crestone Peak Resources
forward and appreciate the Board's support. We have the team,
assets, and investor support to be tremendously successful," said
Buchanon. "We are neighbors in the community and are committed to
environmental stewardship and employee safety."
Crestone is a newly formed
entity under the joint partnership between the Canada Pension Plan
Investment Board (CPPIB) and The Broe Group. On July 29, 2016, Crestone announced the acquisition of the DJ
Basin oil and gas assets from Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana
Corporation (Encana). The sale included all of Encana's DJ Basin
acreage, comprising 51,000 net acres.
About Crestone Peak Resources
Crestone Peak Resources
is an oil and natural gas exploration and production company.
Headquartered in Denver, Colo.,
Crestone's assets are in the
Wattenberg Field in the DJ Basin. As the fifth largest producer in
the area, Crestone strives to
maintain its status as a premier operator in the region.
Crestone is 95 percent owned by
Canada Pension Plan Investment Board (CPPIB) and five percent by an
affiliate of The Broe Group. More information and news about the
company can be found at www.CrestonePeakResources.com.
Media Contacts:
Financial and general media:
Nina Godard,
Edelman
T 416.850.0611
nina.godard@edelman.com
Local media:
Geoff Renstrom, Linhart
PR
T 303.951.2564
grenstrom@linhartpr.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/crestone-peak-resources-names-tony-buchanon-as-ceo-300314010.html
SOURCE Crestone Peak Resources