Deltic Energy's CEO Graham Swindells has informed the board of his intention to step down, effectively immediately. He will be succeeded by current COO Andrew Nunn.
Swindells served with Deltic over the last 11 years, initially as finance director/CFO from May 2013 to February 2018, and more recently as CEO.
“Graham has led Deltic through some of the toughest and most volatile times I’ve ever experienced in this industry," Nunn said. "Our small team has delivered what would have been, at any other time in the industry’s history, a company-making success with the Pensacola discovery. Deltic has the potential for a second major discovery at Selene where drilling operations are ongoing. Our progress to date has been carefully watched and recognized by our industry peers. We anticipate shortly announcing a series of measures to reduce the company’s overheads. It will then be our job to capitalize on that hard-earned reputation and credibility as we look further afield to find value for shareholders. The initial focus will be on identifying and accessing those opportunities, which deliver immediate, or very near term, cash flow while we incubate those high-impact exploration opportunities that will always be part of Deltic’s DNA.”
Nunn joined Deltic in 2014 and has held the role of COO since 2015. He is a geologist with more than 25 years of experience working on exploration projects across Europe, Africa and Australasia.
As COO of Deltic, he has led the successful development of the company’s exploration portfolio and has been instrumental in securing licences and multiple farm-outs to partners. The company said Nunn was also key to the origination and maturation of the Pensacola discovery and the Selene prospect, where drilling operations are ongoing.
Deltic Energy has invested in a number of offshore oil and gas assets in the UK.
