DENVER (AP) — Cimarex Energy Co. said Monday that its board named Thomas Jorden, the company's executive vice president for exploration, as its next president and chief executive.
F.H. Merelli, who currently serves as the Denver oil and natural gas company's chairman, president and chief executive, will remain chairman and focus on the long-term strategy, the company said.
In addition, the board named Joseph Albi, currently its executive vice president for operations, as executive vice president and chief operating officer.
The appointments are effective Sept. 30. Both men will also become members of the company's board.
Merelli founded Key Production Co. in 1992. In 2002, the company combined with Helmerich & Payne's exploration and production subsidiary to form Cimarex.
Jorden has been with Cimarex since its formation and Key Production since 1993. He has over 30 years of experience in the oil and gas industry.
Albi has been with Cimarex since it was formed in 2002 and Key Production since 1994, Cimarex said.
Cimarex shares rose $2.55, or 4 percent, to $66.69 in midday trading Monday.