OKLAHOMA CITY, Dec. 13, 2016 /PRNewswire/ -- PANHANDLE OIL AND
GAS INC., the "Company," (NYSE: PHX) today announced executive
management changes.
As announced in March 2016,
Michael C. Coffman, 63, President,
CEO and Director of Panhandle Oil and Gas Inc., will retire from
the Company effective Dec. 31, 2016,
after 26 years of service.
Senior Vice President and COO Paul
Blanchard, 56, will take over the position of President and
CEO on Jan. 1, 2017. In addition,
Blanchard has been appointed to the Board of Directors to fill the
vacancy created by Coffman's retirement effective Jan. 1, 2017. He will be recommended for election
as a director at the 2017 Annual Meeting.
Blanchard joined Panhandle in 2009 as Vice President and COO and
was promoted to Senior Vice President and COO the following year.
Prior to joining Panhandle, he was the sole proprietor of a
consulting petroleum engineering firm. Before that he served from
1997 to 2007 as Vice President of the Mid-Continent Business Unit
of Range Resources in Oklahoma
City. Blanchard holds a Bachelor of Science degree in
Petroleum Engineering from the University of
Oklahoma and has 35 years of experience in engineering,
operations and executive management.
"I would like to thank Mike for his 26 years of service to
Panhandle and wish him well in his much-deserved retirement," said
Robert O. Lorenz, Lead Independent
Director of Panhandle. "I would also like to welcome Paul to his
new position as President and CEO and as a member of the Panhandle
Board of Directors."
Freda R. Webb, currently
Reservoir Engineering Manager for Panhandle Oil and Gas, has been
elected Vice President, Operations. She will take that post on
Jan. 1, 2017.
Webb worked as a reservoir engineering consultant for Panhandle
from 2011 to 2015. In 2015, she was appointed Reservoir Engineering
Manager. Prior to Panhandle, she held various reservoir
engineering, acquisitions, corporate planning and management
positions for Cities Services, Occidental Petroleum and
Southwestern Energy and has more than 35 years of experience. Webb
is a graduate of the University of
Oklahoma with a Bachelor of Science degree in Mechanical
Engineering and from the University of
Southern California with a Master's of Science in Petroleum
Engineering.
Robb P. Winfield, currently
Controller and Chief Accounting Officer of Panhandle Oil and Gas
has been elected Vice President, CFO and Controller. He will take
over the post on Jan. 1, 2017.
Winfield served as Controller of Panhandle from 2008 to 2009,
when he was elected Controller and CAO. He was employed by
Chesapeake Energy Corporation from 2004 to 2008 as Revenue
Coordinator and Supervisor and worked as an auditor at Ernst and
Young LLP from 1999 to 2004. Winfield is a graduate of the
University of Oklahoma with a Bachelor
of Business Administration in Accounting.
Lonnie J. Lowry, currently Vice
President, CFO and Corporate Secretary of Panhandle Oil and Gas,
will become Vice President, Corporate Secretary effective
Jan. 1, 2017.
Panhandle Oil and Gas Inc. (NYSE: PHX) is engaged in the
exploration for and production of natural gas and oil. Additional
information on the Company can be found on the Internet at
www.panhandleoilandgas.com.
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SOURCE PANHANDLE OIL AND GAS INC.