Extraction Oil & Gas Inc. promoted its chief accounting officer, Tom Brock, to CFO following the resignation of Rusty Kelley, the Denver-based company said Sept. 4.
Kelley’s resignation, effective Sept. 15, was “to pursue other interests,” according to the company press release. Extraction is an independent energy exploration and development company focused primarily in the Wattenberg Field within the Denver-Julesburg Basin in Colorado.
Kelley had served as Extraction’s CFO since July 2014, after previously running the oil and gas practice for global investment bank Moelis & Co. In late 2016, he helped Extraction take public in what has been one of the rare E&P IPOs since the oil crash in 2014.
Brock, who has been designated by the Extraction board to assume the role of CFO, will also continue in his current role as vice president and chief accounting officer, which he has held since 2016. According to the company release, he has over 21 years of energy-focused accounting experience and had previously begun his career with KPMG LLP.
Extraction also said that the board has appointed Marianella Foschi as vice president of finance. Foschi had previously served as director of finance since 2015.
Extraction Oil & Gas president and acting CEO, Matt Owens, wished Kelley well and thanked him for his contributions to the company over the past five year. He also welcomed Brock and Foschi into their new roles.
“Tom and Marianella have been integral leaders for Extraction and their knowledge of the company, coupled with their financial backgrounds and experience, will allow for a smooth transition,” Owens said in a statement. “We believe these will be great additions to our leadership team and will benefit us as we look to deliver on our company goals.”
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