CALGARY, Jan. 14, 2014 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that Bruce Hall has been promoted to President and Chief Operating Officer ("COO") of Twin Butte from his current position as COO. Jim Saunders, as Chief Executive Officer, will continue to be fully involved on a daily basis, providing leadership and direction in the affairs of the Company.
Mr. Hall joined Twin Butte as Vice President, Corporate Development in 2009 and has taken on increasing responsibility over time, leading to his promotion as COO in 2011. From the time Mr. Hall joined Twin Butte, the Company has grown from a 3,000 boe/d 70% gas-weighted junior to an over 23,000 boe/d 90% liquids-weighted intermediate dividend paying company. Adding the President's responsibilities to his current role as COO recognizes Mr. Hall's increasing contribution and is a natural progression of Twin Butte's long-term succession planning.
Mr. Hall graduated from the University of Alberta in 1988 with a B. Sc. in Petroleum Engineering with Distinction and was the APEGGA Gold Medal Recipient.
Mr. Hall has over 25 years of well-rounded experience with large and small public and private companies. He spent the first five years of his career with Amerada Hess starting as a field engineer in Rocky Mountain House before transferring to Calgary and working in exploitation and reservoir engineering. For the next four years he worked as a petroleum engineer, helping grow a small private oil-weighted company, Resman Oil and Gas, from 2,000 to over 4000 boe/d before successfully selling the company to Morrison Petroleum. Mr. Hall then joined Petrobank Energy, a public gas company, as Manager, Production where he helped grow the company from 1,200 to 3,500 boe/d, in less than three years before transitioning the company to the new management team in early 2000. From 2000 to 2005, Mr. Hall worked in exploitation and business development at ARC Resources and gained valuable experience in acquisitions and the dividend paying model. He was directly responsible for the acquisition and growth of ARC's Montney positions in Ante Creek and Dawson Creek, which grew from 1,000 to nearly 6,000 boe/d. In 2005, Mr. Hall was involved in starting up junior producer Alberta Clipper Energy as Vice President, Engineering. The company's production grew from 700 to 3,500 boe/d, and increased production per share by 113% before being sold to NAL Resources in 2009.
About Twin Butte
Twin Butte Energy Ltd. is a value oriented intermediate producer with a significant and growing scalable and repeatable drilling inventory focused on large original oil in-place conventional medium and heavy oil exploitation. Twin Butte is well positioned to live within cash flow while providing shareholders with a sustainable dividend and moderate per share production growth potential over the long term.
SOURCE: Twin Butte Energy Ltd.
For further information:
Twin Butte Energy Ltd.
Chief Executive Officer
Tel: (403) 215-2040
Fax: (403) 215-2055
R. Alan Steele
Vice President, Finance, Chief Financial Officer and Corporate Secretary
Tel: (403) 215-2692
Fax: (403) 215-2055