EXPERIENCED OPERATIONAL TEAM WILL BE HEADQUARTERED IN NEW ORLEANS LOUISIANA New Orleans, Louisiana — (Business Wire) — May 31, 2016 — Array Petroleum LLC ("Array" or the "Company") a privately-held independent oil and gas operations, production and exploration company, today announced its formation by the former senior management team of Whitney Oil and Gas ("Whitney") following the sale of Whitney and the completion of its transition services agreement with Whitney's buyer.. Array will be headquartered in New Orleans with operations focused primarily in the shallow, state waters of the Gulf of Mexico, predominantly offshore Louisiana. Jim Zotkiewicz, Array's President & Senior Geology and Exploration Officer, commented, "I am excited to embark on another oil and gas venture with Steve Ledet and John Russell. We are pleased to have sold Whitney and are now looking to acquire and operate additional high quality assets in the shallow, state waters of the Gulf of Mexico. We believe that our successful track record of enhancing value through operational excellence and prudent capital investments will enable us to build another solid company by capitalizing on the opportunities being presented by the current energy price environment." With the sale of Whitney and the completion of the transition service agreement to operate those properties, Array is now poised to acquire and operate new fields. The Company has demonstrated the ability to buy existing production, and through workovers, operational enhancements and drilling, safely and profitably grow production and reserves. The management team is led by Jim Zotkiewicz, President, and includes Steve Ledet, Executive Vice President – Operations, and John Russell, Executive Vice President - Engineering. The principal partners have worked together on multiple projects for several companies for nearly a decade. The Company also announced that it will participate in the upcoming Louisiana Energy Conference in New Orleans on the shallow water Gulf of Mexico panel on Wednesday morning, June 1. Additional details on the Conference are available at www.LouisianaEnergyConference.com. About Array Petroleum Array Petroleum is a privately held, independent oil and gas operations, production and exploration company primarily focused in the shallow, state waters of the Gulf of Mexico. Array's strategy is to acquire producing oil and gas properties and through operational optimization and economic capital investments safely and profitably grow production and reserves. The Company is headquartered in New Orleans Louisiana. Contact: Al Petrie Investor Relations Coordinator 504-799-1953

Energy

Marine

Array Petroleum LLC

Org chart

Similar companies