Roger Cressey Named Interim CEO of Armour Energy After First Shipment of Oil Goes Out

Roger Cressey, the chief operating officer of Armour Energy Ltd (ASX:AJQ) was appointed as the interim CEO of the company. The appointment is the result of the resignation of the previous CEO, Robbert de Weijer.

Cressey has been with Armour Energy since 2011 and has more than three decades of experience in project management and engineering construction, of which 20 years were in the oil and gas industry. He has held senior project management positions with Caltex Refineries, Transfield Services and OSD Pipelines.

Armour Energy recently sent out its first consignment of oil production generated by the Emu Apple Oilfield in the Surat Basin in Queensland, which is part of the Kincora Project. The firm began to produce oil from the field on the 17th of August. Current production stands at 42 barrels of oil equivalent per day. Operating costs, including transport to the refinery, equates to $21.5 per barrel.

The firm is continuing to pursue a plan with multiple phases designed to revitalize Kincora gas and condensate production after the contingent resources of gas in some of the fields that are part of the project region quadrupled.

About the Author

Frank L. Chadbourne
After graduating with first class honours in economics from University of Texas at Dallas in 2006, Frank spent a number of years as a private client equity dealer gaining front-line experience in the investment industry during the most fast paced and volatile period in financial history. Having acquired an insight from both professional and individual investors, Frank joined Gulf Feed's growing editorial team in 2014.