Pacific Exploration & Production Corp. has appointed Barry Larson as its new Chief Executive Officer, effective February 20, 2017.
The company said on Monday that Larson would be based at the company’s operating headquarters in Bogotá, Colombia.
Jim Latimer, the current interim CEO will continue to operate in the role until the effective date of Larson’s appointment as the permanent CEO.
Larson has over 40 years of oil and gas industry experience, 21 of which have been with operations at the international level. He was most recently a director of Pacific, appointed to the new board as part of the recapitalization and restructuring of the company, effective November 2, 2016.
Concurrent with his appointment as CEO, Larson has stepped down from his role as a director, effective immediately. The board is evaluating independent director candidates to fill the vacated director role.
Before joining Pacific, Larson held the position of Chief Operating Officer at Parex Resources Inc. in Colombia for seven years as well as other executive roles with other companies in the Americas.
Gabriel de Alba, Chairman of the Board of Directors of Pacific, said: “We are extremely fortunate that Barry has agreed to take on the role of CEO, particularly given his historical success in Colombia, including his recent work at Parex.”
He also added: “We would also like to thank Jim Latimer for all his contributions as interim CEO. His tireless efforts will allow the company to maintain momentum during this transition.”
Larson said: “I look forward to advancing Pacific’s strategic priorities and continuing the value creation initiatives underway. While the company will continue to look at ways to maximize the value of certain assets, the core E&P profile of this company is substantial and I look forward to continue working with our operating leaders and the board to advance the new Pacific for the benefit of all our stakeholders.”