– USA, TX – Glori Energy Inc. (NASDAQ: GLRI), an energy technology and oil production company focused on enhanced oil recovery using its proprietary AERO® System, today announced the appointment Kevin P. Guilbeau as Executive Chairman of the Board. Mr. Guilbeau succeeds interim Chairman Mark Puckett, who remains on the Board. In addition to the traditional duties of Chairman, as Executive Chairman, Mr. Guilbeau will work directly with the Company’s management team to help further advance Glori’s growth and strategic initiatives.
Stuart Page, Glori’s President and Chief Executive Officer, commented, “We are delighted to welcome Kevin to our Board. Kevin brings a wealth of E&P experience and relationships in both the energy industry and the capital markets that will be invaluable as we ramp up our efforts to acquire long lived, mature oil production assets and deploy our AERO technology. He will not only provide a strong bridge between our Board and executive team, but we believe his counsel will also help us accelerate our acquisition strategy to take advantage of the current commodity market conditions.”
“I’m excited to work with Stuart and his management team as well as the Board of Directors to leverage the success they’ve had building Glori’s technology into a proven oil recovery solution,” Mr. Guilbeau said. “In my new role as Executive Chairman, I look forward to working with Glori to assist in identifying, funding, and developing AERO-compatible oil field acquisitions that will accelerate Glori’s growth and shareholder value.”
Mr. Guilbeau has over 34 years of oil and gas exploration and production experience. Most recently he was President and Chief Executive Officer of Gulf Coast Energy Resources, which he founded in 2010 and led it from a private equity start-up through growth via acquisitions and exploration until it merged with Talos Energy in March 2015. Prior to founding Gulf Coast Energy Resources, Mr. Guilbeau was Executive Vice President and Chief Operating Officer for LLOG Exploration Company from 2006 until 2009, with responsibility for leading offshore E&P operations in the Gulf of Mexico and onshore operations along the Gulf Coast. Earlier in his career, he was Senior Vice President and General Manager of the Gulf of Mexico/Gulf Coast Business Unit for Dominion Exploration and Production, which during his 10-year tenure, he grew into a $4.7 billion business that was sold to ENI in 2007. Mr. Guilbeau began his career as a geologist at Shell Oil Company in 1981, where he held a variety of technical and leadership positions. Mr. Guilbeau holds a B.S. degree in Earth Sciences from the University of New Orleans and an M.S. degree in Geology from the University of New Mexico.
ABOUT GLORI ENERGY INC.
Glori Energy is a Houston-based energy technology and oil production company that deploys its proprietary AERO technology to increase the amount of oil that can be produced from conventional oil fields and to improve reserve recovery and field economics. Glori owns and operates oil fields onshore U.S. and additionally provides its technology as a service to E&P companies globally. Only one-third of all oil discovered in a typical reservoir is recoverable using conventional technologies; the rest remains trapped in the rock. Glori’s proprietary AERO System recovers residual oil by stimulating a reservoir’s native microorganisms to sustainably increase the ultimate recovery at a low cost.
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