Jeff Balmer to
Retire from Position, Russell Parker
to Succeed Him as COO
HOUSTON, May 18, 2023
/PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon"
or the "Company") today announced that Russell Parker is expected to join the Company
as Senior Vice President and Chief Operating Officer in late June.
Mr. Parker will succeed Dr. Jeff
Balmer who plans to retire upon his successor's
appointment.
Russell Parker is an experienced
leader with more than 20 years of operations and strategic
leadership that spans public and private energy companies including
EP Energy, Phoenix Natural Resources, Chief Oil & Gas, and
Hilcorp Energy. He most recently served as President and Chief
Executive Officer of EP Energy and brings extensive experience
enhancing operational efficiencies, developing talented teams, and
executing strategic transactions.
"We are excited to welcome Russell to drive the continued
evolution of our 'Life of Field' Co-Development Model across our
top-tier Permian inventory," said President and Chief Executive
Officer Joe Gatto. "Russell's track
record of achieving operational successes and financial results
through a culture of collaboration makes him a great fit for Callon
and our outstanding team."
"It is a privilege to join the Callon team at such a pivotal
time for the Company, as the Permian Basin becomes the sole focus
with a strong opportunity set for capital efficiency gains and cost
structure enhancements," said Parker. "I have long admired the
Company's high-quality asset base and look forward to joining
Callon's talented team as we continue our trajectory of improving
operational performance."
Dr. Balmer is retiring from Callon after a successful career
that spans 35 years in the oil and gas industry including nearly
five years at Callon.
CEO Joe Gatto continued, "On
behalf of Callon's Board, management team and employees, I want to
extend our deep appreciation to Jeff for his valued contributions
to Callon over the past five years. Since joining the Company in
2018, Jeff has been an instrumental part of assembling our
high-quality inventory and the successful integration of acquired
assets into our portfolio. We appreciate Jeff's service and wish
him and his family the very best."
Dr. Balmer commented, "I am extremely proud of the team at
Callon and the progress we have made together on our sustainable
business model and operational execution, including our safety and
environmental initiatives. We have highly capable leaders at all
levels of the Company, and I am confident that Callon is
well-positioned to achieve even greater levels of success."
About Russell Parker
Mr. Parker was previously President and Chief Executive Officer
of EP Energy from 2017 to 2022, where he led the company's
strategic repositioning following emergence from bankruptcy and
oversaw improvements in capital efficiency, well productivity, and
safety and environmental performance. Prior to joining EP Energy,
Mr. Parker served as Chief Executive Officer of Apollo-backed Phoenix Natural Resources and
President of Chief Oil & Gas. Earlier in his career he spent
over a decade with Hilcorp Energy Company where he held positions
of increasing responsibility across their engineering and
operations functions for its Texas, Louisiana and Utica operations.
Mr. Parker holds a Bachelor of Science in Petroleum and
Geosystems Engineering from The University of
Texas at Austin.
About Callon Petroleum
Callon Petroleum Company is an independent oil and natural gas
company focused on the acquisition, exploration and development of
high-quality assets in the leading oil plays of South and
West Texas.
Contact:
Kevin Smith
Director of Investor Relations
Callon Petroleum Company
ir@callon.com
(281) 589-5200
View original
content:https://www.prnewswire.com/news-releases/callon-petroleum-company-announces-chief-operating-officer-transition-301829049.html
SOURCE Callon Petroleum Company