Escalera Resources Announces Nomination of Susan G. Reeves to Board of Directors
DENVER and HOUSTON, April 14, 2014 /PRNewswire/ -- Escalera Resources Co. today announced that its Board of Directors (the "Board") nominated Susan G. Reeves to be on the slate of directors to be presented for stockholder approval at the Company's 2014 Annual Meeting of Stockholders. In addition, Mr. Sigmund Balaban has announced his retirement from the Board effective as of the end of his current term.
Ms. Susan G. Reeves
Ms. Reeves has been involved in the energy and financial services industries for over 25 years. She graduated from the University of Texas with highest honors and is a Certified Public Accountant in the State of Georgia. During her career as a business and industry leader, Ms. Reeves has a proven track record of originating and executing large strategic ventures and acquisitions.
She currently serves as president of Public Gas Partners ("PGP"), a non-profit company jointly owned by over 130 municipal gas distributors. PGP was created to secure economical, long-term wholesale natural gas supplies for its members. Under Ms. Reeves' leadership, PGP has successfully closed sixteen acquisitions consisting of more than 3,700 producing wells located in 12 states. Ms. Reeves also serves as the chief financial officer of the Municipal Gas Authority of Georgia (the "Gas Authority"), where she oversees finance, accounting, risk management and information technology for the natural gas supplier. She is also responsible for all activities related to public debt offerings and is heavily involved in business development activities.
Prior to her current roles with PGP and the Gas Authority, Ms. Reeves held a variety of leadership positions at eXchangeBridge, Inc., J.C. Bradford and Co., and Deloitte and Touche LLP.
Management Comment
Mr. Charles F. Chambers, Chairman and CEO of Escalera Resources Co. said; "I am very pleased that Susan has agreed to be a Director for Escalera Resources; her proven track record in initiating and executing large strategic acquisitions along with her financial expertise will be extremely valuable as we strive to grow the Company." Mr. Chambers went on to say, "I am confident that we have a slate of directors who will help us fulfill our business strategy of making Escalera Resources a world class company with both E&P and midstream assets in North America and internationally."
About Escalera Resources Co.
Escalera Resources Co. (NASDAQ-GS: ESCR) will have offices in Houston, Texas, Denver, Colorado and Casper, Wyoming. The Company has historically explored and developed natural gas and crude oil properties in the Rocky Mountain region. The Company currently has development activities and opportunities in Wyoming, in both the Atlantic Rim and on the Pinedale Anticline. Also, exploration potential exists in its Niobrara acreage in Wyoming and Nebraska, which totals over 70,000 net acres, and in its acreage in Nevada, which totals over 6,000 net acres. The Company is actively pursuing new focus areas, including international and midstream opportunities.
Company Contact:
John Campbell, IR
(303) 794-8445
www.dble.com
SOURCE Escalera Resources Co.
