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The Board of Directors of Energy XXI has appointed Mr. Bruce W. Busmire to the position of Chief Financial Officer, replacing West Griffin who is stepping down effective October 20, 2014. Mr. Busmire will lead Energy XXI's corporate finance, accounting, information technology, investor relations, planning and strategy functions.
Mr. Busmire has more than 34 years of experience in the oil and gas industry and financial markets. Most recently he was Chief Financial Officer of Venari Resources, a private equity backed Deepwater Gulf of Mexico exploration company. Prior to that, he was in key financial executive positions with Anadarko Petroleum Corporation for eight years, serving as Vice President of Finance and Treasurer, having served initially as Vice President and Chief Accounting Officer. Prior to his positions with Anadarko Petroleum, Mr. Busmire was Senior Vice President, Finance and Chief Financial Officer of Noble Corporation. Prior to his time at Noble, he was a founding member of Pickering Energy Partners (now Tudor Pickering Holt & Co.), an energy investment and merchant banking firm. He was Vice President of Investor Relations for Ocean Energy, a NYSE-listed company with operations in Deepwater Gulf of Mexico and West Africa, which was purchased by Devon Energy in February 2003. In the first 20 years of his career, he held various positions of increased responsibility in accounting and senior management at Amoco Corporation.
John D. Schiller, Energy XXI Chairman, President and CEO said: "We're pleased to welcome Bruce to the Energy XXI leadership team and are eager to leverage his financial experience working in the Gulf of Mexico.
I worked with Bruce while at Ocean Energy, and I experienced first-hand his financial and leadership talents. I'm excited about having Bruce on board as we execute our next stage of growth."
Schiller said: "The Board of Directors of Energy XXI and I thank West for being an important part of the company's first 10 years.
West joined us in 2005 when EXXI was an idea and has been instrumental in our company's growth -- we wish him well in his future endeavors."