Resigning

Justin Furnace, president of the Texas Independent Producers & Royalty Owners Association (TIPRO), is resigning Aug. 12 and the organization is seeking a replacement. Candidates should have a bachelor’s degree and management experience, with solid working knowledge of the oil and natural gas business. An understanding of the Texas and U.S. legislative process will also be helpful. Interested parties should send a resume and cover letter to rvarela@tipro.org by Sept. 15. A search committee will contact finalists. For information, visit www.tipro.org. “This is a critical time for the oil and gas industry, and we feel confident we will find the right candidate to fill the position. In the meantime, we are very fortunate to have Rich Varela, senior vice president and a past TIPRO president, agree to serve as interim president of the association while we search for a new leader; therefore, we will not miss a beat during this transition period,” said TIPRO Chairman David Martineau.

With Berkshire Hathaway billionaire Warren Buffett’s chief lieutenant resigning last Monday, the leadership at MidAmerican Energy Holdings Co. has moved up CEO Greg Abel to chairman to fill the place of David Sokol, 54, Buffett’s long-time go-to executive and potential successor to the Berkshire throne.

Eight weeks after resigning as chairman of the Federal Energy Regulatory Commission (FERC) (see Daily GPI, March 10), Joseph Kelliher has landed with FPL Group Inc. in a newly created position to lead its federal regulatory team. Kelliher, who had been a FERC commissioner from November 2003 until mid-March 2009 and chairman from July 2005 until January 2009, has joined FPL as executive vice president, federal regulatory affairs, overseeing all aspects of the company’s federal energy regulatory policy. Kelliher will report to FPL CEO Lewis Hay III. “Federal regulatory issues are increasingly complex and affect the company in new ways as we have grown to encompass energy operations in 27 states,” Hay said. “As America’s most forward-looking energy company, we feel an obligation to provide leadership and a strong point of view to the shaping of federal energy policy while also demonstrating our commitment to compliance and strong governance. There are few who can match the breadth and depth of knowledge and experience that Joe will bring to this role.” Juno Beach, FL-based FPL has approximately 39,000 MW of generating capacity and more than 15,000 employees in 27 states and Canada. The company’s principal subsidiaries are NextEra Energy Resources LLC, the largest generator in North America of renewable energy from the wind and sun; and Florida Power & Light Co., which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country.

Sioux Falls, SD-based NorthWestern Energy Corp. announced a change at the top Wednesday with its CEO Michael Hanson, 49, resigning and former Montana Public Service Commission (PSC) member Bob Rowe, 53, being named to replace him.

Oklahoma Corporation Commissioner Denise Bode is resigning her post effective May 31 to lead a new natural gas foundation in Washington, DC. Bode, who was appointed to the commission in 1997 by former Gov. Frank Keating, said she is in the process of forming the American Clean Skies Foundation. “Today, there is a national debate on climate change and energy,” she said. “We see policymakers promoting alternative fuels such as wind, solar, biofuels and nuclear. These are all legitimate alternatives — although some much less than others — yet none can offer energy in great abundance at a reasonable price any time soon. On the other hand, burning natural gas instead of the principal alternatives reduces greenhouse gas emissions by approximately 50%. We intend to make natural gas not only part of the debate, but the solution.” Bode said she has talked with gas industry officials about the foundation, including Oklahoma City-based Chesapeake Energy Corp. However, she said the foundation “is not going to be a Chesapeake entity.” Chesapeake has admitted funding an anti-coal campaign in Texas (see Power Market Today, Feb. 20) Gov. Brad Henry, a Democrat, will name Bode’s replacement. Bode’s current term was to expire in 2010. Early in her career Bode worked as a staffer on Capitol Hill and later headed up the Independent Petroleum Association of America lobbying group in Washington.

John W. Somerhalder II, who directed El Paso Corp.’s natural gas pipeline group before resigning earlier this year (see Daily GPI, March 31), has entered into an agreement and general release with the company. He also entered into a Professional Services Agreement to provide consulting services to El Paso on various pipeline projects for $41,000 per month for 12 months. Under the severance agreement, Somerhalder will receive $642,000. El Paso also agreed to provide Somerhalder with a prorationing of his incentive compensation for 2005, which included one third of his target 2005 annual cash incentive bonus in the amount of $203,300, a cash equivalent in the amount of $12.815 million equal to the prorated value of a 2005 equity award had he received that grant and eight months of continued medical coverage subject to his payment of the required contributions. Upon his departure, Somerhalder had 95,000 vested nonqualified stock options and 49,531 shares of vested restricted stock.

Marce Fuller, CEO of Atlanta-based Mirant Corp., is resigning from the bankrupt energy supplier in exchange for $3.4 million in severance pay plus a promised 2004 short-term incentive payment of $850,000, according to a regulatory filing with the Securities and Exchange Commission on Thursday. The agreement calls for Fuller to work as a consultant on Mirant’s bankruptcy case after she leaves.