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Petroglyph Energy
Officers |
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• Richard Hokin, Chairman
of the Board
• William C. Glynn, President
• S. Kennard Smith, Exec.VP & COO
• Paul Powell, Exec. VP, Finance, Investments & CFO
• Scott Madison, VP, Controller & CAO
• Michael E. Rich, VP & Treasurer
• Bruce West, VP, Engineering & Production |
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Oil and Gas Production |
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III Exploration
 Petroglyph
Energy, Inc.
III Exploration Company ("Exploration") was
incorporated in October 1992 under the laws of the State of
Idaho. Exploration was formed for the purpose of exploring for
and developing natural gas and oil deposits. Its initial
investments were made in joint ventures with experienced
operators. In December 2000, Exploration completed the
acquisition of 100% of the stock of Petroglyph Energy, Inc. ("Petroglyph"). Petroglyph
is an Idaho corporation organized to develop, produce, and sell
oil and natural gas.
Exploration's
operations are primarily focused in the Uinta Basin of Utah and
Raton Basin of Colorado. On September 28, 2001, Exploration
entered into a transaction in which substantially all of the oil
and gas property and equipment was transferred to III
Exploration II LP. ("IIIX LP") Petroglyph is the general partner of
IIIX LP.
As the general partner, Petroglyph exercises complete control
over the operations and governance of IIX LP. Industries is a Class A
limited partner of IIIX LP. Intermountain Industries shareholders
are Class B limited partners of IIIX LP and it is a consolidated
subsidiary of Exploration. Exploration became involved in the
oil and natural gas development business in 1994 investing in
the Uinta Basin through a joint venture with an industry
partner. The
successor and principle operator of the properties is Questar Corporation.
IIIX LP currently has net interest
in over 25,000 acres that include both natural gas and oil
production. This area is under significant development.
 Petroglyph
became active in the Uinta basin in 1994 with the purchase of
Antelope Creek Field and Duchesne Field, and in 1996 acquired
the Natural Buttes Extension Area for expanded waterflooding
project opportunities. Waterflooding, to enhance Black Wax Crude
Oil production in the Lower Green River Formation, has been
ongoing for approximately 45 years. In 1996, the U.S. Department
of Energy concluded that the application of waterflooding could
be successful in a relatively undeveloped area called the
Greater Monument Butte Region, which includes the Company's
three development blocks. IIIX LP currently has net interests in
over 160,000 acres.
Enlarge
Map An active development
of the Antelope Creek field through waterflood is underway.
IIIX LP's leasehold of approximately 80,000 net acres in the Raton
Basin, through the acquisition of Petroglyph Energy, provides
access for exploitation of coalbed methane from the Raton and
Vermejo formations as well as exploration of deeper traditional
reservoirs. Development of these resources began in 1998 with
the drilling of water withdrawal wells and installation of
gas-gathering and water-handling systems in two pilot areas.
Enlarge
Map |
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Ken Smith, Exec VP & COO
Petroglyph Energy
Sidney Kennard Smith, 65, is Executive Vice President and
Chief Operating Officer of Petroglyph Energy, Inc. He was Petroglyphs
Chief Financial Officer from 1994 to 1996.
Mr. Smith was a principal and treasurer of TKS Consulting, where he
performed economic and financial analysis, as well as served as an
expert witness in state and federal court and regulatory agency
hearings. Mr. Smith has also served as chief financial officer for
companies whose business involved exploration, production, contract
drilling, refining, oil field services, pipeline, and coal
transportation and marketing.
Mr. Smith is a Certified Public Accountant and is a member of the
American Institute of Certified Public Accountants and the Texas and
Idaho Societies of Certified Public Accountants. Mr. Smith is also a
member of both the American Association of Petroleum Geologists and the
Society of Petroleum Engineers.
Bruce West, 38, is Vice President, Engineering and
Production of Petroglyph Energy, Inc. He started with Petroglyph in 2003
serving as a reservoir engineer and then engineering manager.
Mr. West worked nine years for Apache Corporation in both Denver and
Houston as a production engineer working the both the Rocky Mountains
and Permian Basin. He holds a Bachelor of Science degree in Petroleum
Engineering from the Colorado School of Mines and an MBA in Finance from
the University of Houston. Mr. West is a member of the Society of
Petroleum Engineers.
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