Birchcliff Energy Ltd. (“
Birchcliff” or the
“
Corporation”) (TSX: BIR) is pleased to announce
various executive leadership changes.
Effective January 1, 2022, Birchcliff’s expanded
Executive Team will be as follows:
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Chief Executive Officer and Chairman of the Board of Directors |
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President and Chief Operating Officer |
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Executive Vice-President and Chief Financial Officer |
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Executive Vice-President, Exploration |
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Executive Vice-President, Operations |
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Vice-President, Engineering |
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Vice-President, Legal, General Counsel and Corporate Secretary |
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Vice-President, Business Development and Marketing |
Mr. Christopher Carlsen has been appointed as
President and Chief Operating Officer effective January 1, 2022 and
will be responsible for overseeing Birchcliff’s day-to-day
operations. Mr. Carlsen will report to Mr. A. Jeffery Tonken who
will continue as Chief Executive Officer, providing overall
leadership and direction for the Corporation. Mr. Tonken will also
remain as Chairman of the Board of Directors.
Mr. Carlsen is a Professional Engineer with over
20 years of experience in the oil and natural gas industry and has
been a significant contributor to the growth and operational
success of the Corporation. Since he first joined Birchcliff in
2008, he has held increasingly senior leadership positions with the
Corporation. Mr. Carlsen was appointed Vice-President, Engineering
in July 2013, where he was responsible for overseeing Birchcliff’s
development, reservoir and reserves engineering, as well as
strategic planning, joint ventures and marketing. Mr. Carlsen’s
experience spans a broad range of areas, including operations,
acquisitions and divestitures, finance and sustainability. He holds
a Bachelor of Science degree in Chemical Engineering from the
University of Saskatchewan and is a member of the Association of
Professional Engineers and Geoscientists of Alberta
(“APEGA”).
Mr. Tonken said, “On behalf of Birchcliff, I
would like to congratulate Chris on his appointment as President
and Chief Operating Officer. Chris has been an integral contributor
to Birchcliff’s success over the years and I am extremely confident
that he will make even greater contributions in his new role. He
has significant technical and commercial expertise and a proven
track record of creating and executing on Birchcliff’s corporate
strategy and objectives. He has a deep understanding of our
business and culture and has proven that he is a progressive leader
with the vision and business acumen to help lead Birchcliff.
Throughout his career here at Birchcliff, he has led various high
performing multi-disciplinary teams, demonstrating excellent
leadership skills focused on teamwork and collaboration that
motivates our people to deliver results.”
Mr. Carlsen commented, “I am very excited to be
taking on the role of President and Chief Operating Officer and
continuing to work with our highly skilled and dedicated team, with
the support and guidance of our Board of Directors and the other
members of the Executive Team. Our priorities and strategy remain
unchanged and we continue to focus on operational excellence,
capital discipline, debt reduction and generating free funds flow
in order to create shareholder value.”
Birchcliff is also pleased to announce the
following executive appointments effective January 1, 2022:
-
Mr. Theo van der Werken has been appointed as Vice-President,
Engineering, succeeding Mr. Carlsen. He is a Professional Engineer
and is currently the Asset Manager for the Corporation’s Pouce
Coupe assets where he has been responsible for the development of
the Corporation’s Montney unconventional resource play. Mr. van der
Werken has over 19 years of industry experience focused on asset
management and operations engineering, working onshore and offshore
in Europe, the Middle East and North America. Prior to joining
Birchcliff in April 2011, he worked for several oil and gas
exploration and production companies and an international service
company. Mr. van der Werken holds a Master of Science degree in
Mining Engineering from the Delft University of Technology, The
Netherlands and a Master of Business Administration from the
Haskayne School of Business at the University of Calgary in the
Global Energy Executive MBA program. Mr. van der Werken is a member
of APEGA.
-
Ms. Robyn Bourgeois has been appointed as Vice-President, Legal,
General Counsel and Corporate Secretary. Ms. Bourgeois first joined
Birchcliff in December 2014 as General Counsel and was appointed
Corporate Secretary in June 2017. Prior to joining Birchcliff, she
was a partner with Borden Ladner Gervais LLP where she practiced in
the securities and capital markets group. Ms. Bourgeois holds a
Bachelor of Science degree with distinction in Psychology from the
University of Calgary and a Bachelor of Laws degree with
distinction from the University of Alberta. She is a member of the
Law Society of Alberta.
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Mr. Hue Tran has been appointed as Vice-President, Business
Development and Marketing. He is currently Business Development
Manager where he is responsible for managing the Corporation’s
marketing, joint venture and business development activities. Mr.
Tran has over 16 years of experience in the oil and natural gas
industry in the areas of marketing, joint ventures and business
development. Prior to joining Birchcliff in February 2010, he
worked for a publicly traded energy infrastructure and logistics
company based in Calgary, Alberta that owned and managed a natural
gas liquids business. Mr. Tran holds a Bachelor of Arts degree in
Economics from the University of Calgary.
“On behalf of Birchcliff, I would like to
congratulate Theo, Robyn and Hue on their appointments, which
further strengthen our Executive Team for the future. We take a
proactive approach to succession, ensuring that we maintain our
strong corporate culture and top tier performance, and these
appointments reflect our commitment to promote from within to
maintain continuity in our business and reward successful
performance. The skills, expertise and perspectives of these three
individuals will further complement our existing Executive Team,
enhancing Birchcliff’s ability to continuously improve the
execution of our business and create value for our shareholders,”
said Mr. Tonken.
Also effective January 1, 2022, the current
members of the Executive Team, Bruno Geremia, Myles Bosman and
David Humphreys, have been appointed as Executive Vice-Presidents
as set forth above. Mr. Carlsen and Ms. Bourgeois will report to
Mr. Tonken and the other Executive Officers will report to Mr.
Carlsen.
Forward-Looking Statements
Certain statements contained in this press
release constitute forward-looking statements and forward-looking
information (collectively referred to as “forward-looking
statements”) within the meaning of applicable Canadian
securities laws. All statements and information other than
historical fact may be forward-looking statements. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. Accordingly, readers are cautioned not
to place undue reliance on such forward-looking statements.
Although Birchcliff believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct and
Birchcliff makes no representation that actual results achieved
will be the same in whole or in part as those set out in the
forward-looking statements.
In particular, this press release contains
forward-looking statements relating to the following: that
Birchcliff’s priorities and strategy remain unchanged and it
continues to focus on operational excellence, capital discipline,
debt reduction and generating free funds flow in order to create
shareholder value; and that the skills, expertise and perspectives
of the three new officers will further complement Birchcliff’s
existing Executive Team, enhancing Birchcliff’s ability to
continuously improve the execution of its business and create value
for its shareholders. With respect to the forward-looking
statements contained in this press release, assumptions have been
made regarding, among other things: the degree to which the
Corporation’s results of operations and financial condition will be
disrupted by circumstances attributable to the COVID-19 pandemic;
prevailing and future commodity prices and differentials, exchange
rates, interest rates, inflation rates, royalty rates and tax
rates; the state of the economy, financial markets and the
exploration, development and production business; the political
environment; the regulatory framework; future operating,
transportation, marketing, G&A and other expenses; Birchcliff’s
ability to access capital and obtain financing on acceptable terms;
the timing and amount of capital expenditures and the sources of
funding for capital expenditures and other activities; the
sufficiency of budgeted capital expenditures to carry out planned
operations; the successful and timely implementation of capital
projects; results of operations; Birchcliff’s ability to continue
to develop its assets and obtain the anticipated benefits
therefrom; and the performance of existing and future wells.
Birchcliff’s actual results, performance or achievements could
differ materially from those anticipated in the forward-looking
statements as a result of both known and unknown risks and
uncertainties including, but not limited to: the risks posed by
pandemics (including COVID-19) and epidemics and their impacts on
supply and demand and commodity prices; actions taken by OPEC and
other major producers of crude oil and the impact such actions may
have on supply and demand and commodity prices; general economic,
market and business conditions which will, among other things,
impact the demand for and market prices of Birchcliff’s products
and Birchcliff’s access to capital; volatility of crude oil and
natural gas prices; stock market volatility; an inability to access
sufficient capital from internal and external sources on terms
acceptable to the Corporation; operational risks and liabilities
inherent in oil and natural gas operations; the occurrence of
unexpected events such as fires, severe weather, explosions,
blow-outs, equipment failures and transportation incidents;
uncertainty that development activities in connection with
Birchcliff’s assets will be economic; geological, technical,
drilling, construction and processing problems; the failure of
drilling results to meet expectations for reserves or production;
the accuracy of cost estimates and variances in Birchcliff’s actual
costs and economic returns from those anticipated; changes to the
regulatory framework in the locations where the Corporation
operates; political uncertainty and uncertainty associated with
government policy changes; uncertainties and risks associated with
pipeline restrictions and outages to third-party infrastructure
that could cause disruptions to production; environmental and
climate change risks, claims and liabilities; and claims by
Indigenous peoples.
Readers are cautioned that the foregoing lists
of factors are not exhaustive. Additional information on these and
other risk factors that could affect results of operations,
financial performance or financial results are included in
Birchcliff’s most recent Annual Information Form under the heading
“Risk Factors” and in other reports filed with Canadian securities
regulatory authorities. Management has included the above summary
of assumptions and risks related to forward-looking statements
provided in this press release in order to provide readers with a
more complete perspective on Birchcliff’s future operations and
management’s current expectations relating to Birchcliff’s future
performance. Readers are cautioned that this information may not be
appropriate for other purposes. The forward-looking statements
contained in this press release are expressly qualified by the
foregoing cautionary statements. The forward-looking statements
contained herein are made as of the date of this press release.
Unless required by applicable laws, Birchcliff does not undertake
any obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
About Birchcliff:
Birchcliff is a Calgary, Alberta based
intermediate oil and natural gas company with operations
concentrated within its one core area, the Peace River Arch of
Alberta. Birchcliff’s common shares and cumulative redeemable
preferred shares, Series A and Series C are listed for trading on
the Toronto Stock Exchange under the symbols “BIR”, “BIR.PR.A” and
“BIR.PR.C”, respectively.
For further information, please contact: |
Birchcliff Energy Ltd.Suite 1000, 600 – 3rd Avenue
S.W. Calgary, Alberta T2P 0G5Telephone: (403) 261-6401Email:
info@birchcliffenergy.comwww.birchcliffenergy.com |
|
Jeff Tonken – President and Chief Executive
OfficerChristopher Carlsen – Vice-President,
EngineeringBruno Geremia – Vice-President and
Chief Financial Officer |
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