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Callon Petroleum Co. named Russell Parker senior vice president and COO on May 18, succeeding Jeff Balmer, who plans to retire, the company said in a press release.
Parker most recently served as president and CEO of EP Energy and has more than 20 years of operations and strategic leadership in public and private energy companies including Phoenix Natural Resources, Chief Oil & Gas and Hilcorp Energy.
"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."
Parker said it was a privilege to join the company as it moves toward becoming a pure-play Permian Basin E&P. Callon recently announced twin deals to buy assets in the Permian’s Delaware Basin while selling its position in the Eagle Ford in deals valued at $1.1 billion.
"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," Parker said.
Balmer is retiring from Callon after 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."