NEW STANDARD Energy has appointed Magnum Hunter nominee Jeffrey Swanson and Pathfinder Energy nominee Greg Channon to its board as non-executive directors.
Mr Swanson has more than 34 years of oil and gas experience in both conventional and shale oil and gas exploration and production in the US.
He founded and is Chairman, CEO and President of GrailQuest Corp, a company set up in 2002 as a software and service provider to meet various needs in the oil and gas industry.
Mr Swanson is also Chairman, CEO and President of Durango Resources Corporation, an oil and gas operator and producer predominantly in Texas, and a Non-Executive Director at Magnum Hunter Resources Corporation.
Mr Channon is a geologist with more than 29 years of experience in the oil and gas industry and will be able to provide New Standard vast technical and operational knowledge and experience, particularly in the Cooper basin.
He worked for Santos for 13 years with geological responsibility for its Cooper basin program and has since worked at a number of senior roles. He is currently the Vice President of New Business at Pathfinder Energy.
New Standard Energy chairman Arthur Dixon said he was looking forward to working alongside Mr Swanson and Mr Channon as their professional backgrounds and skills complemented the existing Board expertise.
“Jeff and Greg bring a collective level of experience and knowledge that will be invaluable to New Standard which is currently experiencing a high level of growth and development as it transitions from a junior explorer to a producer, developer and explorer with a large and diverse portfolio of assets,” Mr Dixon said.
“Jeff ’s appointment reinforces New Standard’s alignment with our strategic business partner and largest shareholder, Magnum Hunter, as we continue to progress our plans to expand and develop the Eagle Ford acreage and increase our drilling activity in Texas.”
“Greg’s exploration and development expertise honed in the Cooper basin will be significant as New Standard begins planning for an exploration campaign at its PEL 570 acreage in the basin’s Patchawarra formation,” Mr Dixon said.