THE chief executive of oil and gas firm Hurricane Energy has resigned.
Robert Trice is also leaving his director role at the company.
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The move comes as part of a boardroom shuffle at the firm which has offices in both Aberdeen and Surrey.
Oil industry veteran Beverley Smith, non-executive director since December 2019, has been appointed interim CEO.
Mr Trice, who will still be available to help the company over the next six months, has served the firm for around 16 years, culminating in the “outstanding success” of first oil from the Lancaster field, west of Shetland, in 2019.
However, shares in Hurricane Energy were down 3 per cent in early trading on Monday at 8.56p. They traded as high as 64p in 2017.
Richard Chaffe has been confirmed as Hurricane’s chief financial officer, having held the post on an acting basis since February, when Alistair Stobie stood down.
Roy Kelly, non-executive director nominated by private-equity backer Kerogen since 2016, has left the board, to be replaced by Alan Parsley, member of Kerogen’s advisory board.
Jason Cheng has vacated his alternate director position in relation to Kerogen’s nominated director, but Leonard Tao will continue in this role, acting as alternate to Mr Parsley.
Steven McTiernan, Hurricane chairman, said: “The board commends Dr Trice’s pioneering efforts to explore the viability of the unique basement oil play west of the Shetlands.
“His dedication over a period of 16 years has built Hurricane into a recognised UK operator today, culminating in the outstanding success of delivering first oil in May 2019.
“As we move into a phase where the focus is on enhancing production, I am very pleased that Beverley has taken on the role of interim CEO where her extensive subsurface and development experience will be of huge benefit to the company.
“In evaluating options for the forward work programme against an uncertain macroeconomic backdrop, we will prioritise early low-cost production with the capital discipline needed to achieve financial resilience.”
