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Armour Energy overhauls management team to fast-track expansion

30 Jul 2020 12:33 PM | Sonia Harvey (Administrator)

AUSTRALIAN onshore oil and gas producer and explorer Armour Energy has made several appointments to its management team as it embarks on a new era of expansion.

In May, the ASX-listed company brought Brad Lingo in as its chief executive, following an acquisition of fellow Australian explorer Oilex's Cooper Basin assets. 

The acquisition saw Armour acquire Oilex subsidiary CoEra which holds a 79.33% direct interest in two permits, PEL 112 and PEL 444, with an option to take the remaining 20.66% from a trio of North American companies. 

It also acquired the rights to 27 retention leases covering 2445 square kilometres in the Northern Fairway from Senex Energy. 

CEO Brad Lingo's plan is to progress Armour's exploration assets in Queensland and the Northern Territory, while also increasing reserves and resources at its operational Kincora gas project in Queensland.

To help him accomplish this, a new executive leadership team has been appointed to lead the company. 

Former Santos executive, Michael Laurent, who managed the gas giant's Cooper Basin appraisal and field optimisation activities joins Armour as chief operating officer. 

Laurent's key focus will be on an upcoming work program involving fraccing of newly acquired and old wells in Armour's portfolio. 

Erin Clark a well-known consultant in the Queensland and chair of the Advisory Board Centre has been brought on as interim chief financial officer. 

The third appointment announced today is that of Neil McDonald, who has been with Armour for several years in the role of corporate affairs. McDonald will now take on a new position as general manager of commercial operations. 

McDonald's remit will be to engage domestic and international investors and develop business strategies for  development of Armour's acreage. This includes creating new commercial agreements with other oil and gas companies and developing relationships with stakeholders, while ensuring the company remains within its regulatory compliance requirements. 

The three appointments come just days after Armour announced it would work with Santos to accelerate exploration and development of six permits in the Northern Territory and Queensland. 

Source: Energy News Bulletin

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