Pacific Exploration & Production Corp. has appointed Barry Larson as its new chief executive officer. The 40-year industry veteran will be based in Bogotá once he officially takes over the position on February 20. Larson is also immediately stepping down as a director on the board of the Canadian energy company.
Current interim CEO Jim Latimer will continue at the helm until Larson assumes the position, and Pacific Exploration (E&P) has already begun looking for a replacement director.
“I look forward to advancing Pacific’s strategic priorities and continuing the value creation initiatives underway,” said Barry Larson. “Pacific has a unique set of assets, a strong opportunity set, and a skilled and dedicated workforce. While the company will continue to look at ways to maximize the value of certain assets, the core E&P profile of this company is substantial.”
Barry Larson, who joined Pacific’s board in November last year during the firm’s restructuring, served as chief operating officer at Parex Resources Inc. from 2009 to 2016. Before that, he worked as vice president and chief operating office for Petro Andina Resources Inc. beginning in 2005.
While touting the new CEO’s ability to lead from Bogotá, Pacific Exploration highlighted Petro Andina’s presence in Colombia and Larson’s time at Parex. “We are extremely fortunate that Barry has agreed to take on the role of CEO, particularly given his historical success in Colombia, including his recent work at Parex,” said Gabriel de Alba, chairman of the board for Pacific Exploration.
The chairman added that, “We look forward to Barry’s leadership as we continue to rebuild Pacific as a competitive low-cost producer and a market leader over the long-term.”