W&T Offshore, Inc. announced the resignation of W. Reid Lea from his position as the Company’s Executive Vice President and Manager of Corporate Development. Mr. Lea, whose resignation is effective July 2, 2010, is leaving to pursue other business opportunities.
As part of the resignation, Mr. Lea has agreed to serve as a consultant for the Company for a period of ten months to assist the Company with transition matters. The Company also announced that it is currently recruiting and evaluating potential individuals to succeed Mr. Lea.
Tracy W. Krohn, the Company’s Founder, Chairman and Chief Executive Officer, commented, “On behalf of the Board of Directors, I want to thank Reid for his contributions to the Company. We appreciate his agreement to stay on as a consultant to ensure a smooth transition and wish him well in his future endeavors.”
W. Reid Lea was appointed to Executive Vice President and Manager of Corporate Development in September 2005. Dr. Lea joined our Company as Vice President of Finance in 1999 and was appointed the Chief Financial Officer in 2000. He is also one of our Assistant Secretaries. Prior to joining us, Mr. Lea was a reservoir engineer with Exxon and held management positions with three financial institutions. He also taught engineering in the Louisiana State University Systems. Mr. Lea received his B.S. in Petroleum Engineering from Louisiana Tech University in 1980, an M.S. in Engineering Science from Louisiana State University in 1991 and a Ph.D. in Engineering Science from Louisiana State University in 1993.
About W&T Offshore
W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions, where it has developed significant technical expertise. W&T has grown through acquisitions, exploitation and exploration and holds working interests in approximately 77 fields in federal and state waters and a majority of its daily production is derived from wells it operates.
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Source: wtoffshore, July 5, 2010;