Shares of EOG Resources Inc. rose sharply on Tuesday after the company reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in crude oil production from the Eagle Ford Shale.
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San Diego-based Sempra Energy CEO Debra Reed, 56, has been elected chairman of the energy holding company to replace Donald Felsinger, 65, who retires at the end November after 40 years. Reed was named CEO last year and has worked for Sempra companies for the past 34 years (see Daily GPI, June 29, 2011). She previously worked for Sempra’s Southern California Gas Co. utility.
Greg Ebel, currently Spectra Energy CFO, has been selected to succeed Fred Fowler as president and CEO when Fowler retires at the end of the year. Ebel also was elected to the board of directors. “Some time ago, Fred advised the board of his intention to retire at the end of this year,” said Spectra Chairman Paul Anderson. “We are announcing his successor at this time to allow for a smooth transition and to allow Greg the opportunity to develop the company’s 2009 budget and underlying strategy for 2009 and beyond that he will be responsible for delivering. Fred will continue to be responsible for delivering the company’s 2008 commitments.” Fowler said he would set up an office of the CEO to include Ebel to coordinate the transition. Before becoming Spectra CFO, Ebel served as president of Union Gas Ltd., Spectra Energy’s Canadian natural gas distribution company. He previously was Duke Energy’s vice president of investor and shareholder relations from 2002 to 2005 and prior to that was managing director of mergers and acquisitions. From 1998 to 2002 Ebel was vice president of strategic development for Westcoast Energy. He also has worked at the World Bank in Washington, DC, and in the Canadian government.
ConocoPhillips’ board of directors on Thursday elected James J. Mulva, 58, to succeed Archie W. Dunham as chairman of the board when Dunham retires at the end of September. Mulva, who had been chairman and CEO of Phillips Petroleum Co. when it merged with Conoco, will retain his president and CEO titles.
Coming a little more than a week after the company headed off bankruptcy, Hagerstown, MD-based Allegheny Energy, Inc. announced that Alan J. Noia, chairman, president, and CEO, has informed the board of directors of his decision to retire. Noia has agreed to remain with the company until a successor is found. The company said it is in the process of enlisting a prominent executive search firm to head the search.
“The times, they are a-changing” could be Southern Company’smotto after a recent blitz of reorganization. The company reportedthat its board of directors approved the long-awaited spin-off ofMirant Corp. – formerly known as Southern Energy – and ChairmanA.W. “Bill” Dahlberg is retiring upon completion of thetransaction.
“The times, they are a-changing” could be Southern Company’smotto after a recent blitz of reorganization. The company reportedthat its board of directors approved the long-awaited spin-off ofMirant Corp. — formerly known as Southern Energy — and ChairmanA.W. “Bill” Dahlberg is retiring upon completion of thetransaction.