Vaalco Energy, Inc. Announces Changes in Company Leadership
March 22 2019 - 6:45AM
VAALCO Energy, Inc. (NYSE: EGY) today announced that Phil Patman,
VAALCO’s Chief Financial Officer, has elected to resign from the
Company, effective March 31, 2019, to pursue other interests.
Elizabeth Prochnow, the Company’s Chief Accounting Officer, has
been appointed by the Board to the role of Chief Financial Officer
effective April 1, 2019. Mr. Patman’s departure was not
related to any issues regarding financial disclosures, accounting
or legal matters.
Ms. Prochnow has served as VAALCO’s Chief
Accounting Officer since joining the Company in March 2015. Ms.
Prochnow has held a variety of senior finance leadership positions
including Executive Vice President, Chief Financial Officer of
Sterling Construction Company, Inc., and Vice President, Finance
and Chief Financial Officer of Bristow Group Inc. Ms. Prochnow
began her career as a public accountant at Arthur Andersen LLP in
1981. Ms. Prochnow holds a Bachelor of Arts and a Masters of
Accounting from Rice University and is a certified public
accountant in the State of Texas.
VAALCO also announced that the Board has
appointed Michael Silver as Vice President and General Counsel
effective April 1, 2019. Mr. Silver has nearly 30 years of
experience in the energy industry. Prior to joining VAALCO in
November 2018 in a non-executive role, Mr. Silver served as
Managing Counsel for the Petroleum Division of BHP Group plc,
Senior Counsel at Constellation Energy Commodities Group, Inc. and
spent 17 years at ExxonMobil Corporation in the law department with
multiple roles of increasing responsibilities. Mr. Silver holds a
Bachelor of Arts degree in International Affairs from Lafayette
College, an M.B.A. from the Duke University Fuqua School of
Business and a J.D. from the Duke University School of Law.
Mr. Silver is a member of the State Bar of
Texas.
Cary Bounds, Chief Executive Officer, commented,
“We wish Phil well in his future endeavors and want to thank him
for his contributions over the past two years. Liz has been an
integral leader for VAALCO over these past four years and her
knowledge of the Company, coupled with her comprehensive financial
background and experience will allow for a smooth transition. We
are pleased to promote Michael to an executive role and believe he
will be a great addition to our leadership team. His extensive
experience in the energy industry will benefit us as we look to
deliver on our Company goals. We remain focused on the near-term
and long-term opportunities at Etame and are poised financially and
operationally to deliver profitable growth and value for our
shareholders.”
About VAALCO
VAALCO Energy, Inc. is a Houston-based
independent energy company principally engaged in the acquisition,
development and production of crude oil. The Company's properties
and acreage are located primarily in Gabon and Equatorial Guinea in
West Africa.
Investor Contact Al Petrie
713-543-3422
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