Laurus Energy Appoints Don Turkleson Chief Financial Officer
Accomplished oil and gas financial executive joins company developing North American underground coal gasification (UCG) projects
HOUSTON, Feb. 10 /PRNewswire/ -- Laurus Energy, a privately-held company developing underground coal gasification projects in North America, today announced that Don A. Turkleson has joined the management team as Chief Financial Officer. He joins a company that offers a solution to the problem of energy independence by unlocking and capturing value from otherwise unmineable coal. Laurus Energy has offices in Houston, Montreal, Edmonton, AB, and Sheridan, WY.
Prior to joining Laurus Energy, Don was Senior Vice President and CFO for Cheniere Energy, Inc. During his eleven years at Cheniere, he oversaw the company's establishing an internal control environment compliant with Sarbanes-Oxley requirements and a financial reporting system for three publicly traded companies. As CFO, Don helped lead Cheniere's completion of more than $6 billion in financings and re-financings, including project financing for a $1.5 billion LNG receiving terminal, $2.2 billion in publicly traded senior notes, term loans, convertible debt, and equity offerings including the IPO of a master limited partnership.
Don also served as Vice President – Finance for PetroCorp Incorporated, an oil and gas exploration and production company, where, over a period of twelve years, he helped to grow the company from 50 employees to 120 employees. At PetroCorp, he assisted in the negotiation for management of 700 oil and gas properties, the merger of $50 million in properties for equity, the formation of joint ventures to acquire $175 million in oil and gas properties, and the completion of the company's IPO.
He began his career at Arthur Andersen & Co. where he worked as a CPA for eight years, principally with oil and gas industry clients. He assisted in various client equity offerings, including the coordination of financial reporting for a $600 million exchange offering IPO which combined over 200 limited partnerships.
"Don brings deep domain expertise in the oil and gas industry as well as tremendous knowledge about the financial requirements associated with large scale energy projects," said Rebecca McDonald, Laurus Energy CEO. "He will be instrumental in growing our business and managing our capital structure."
About Laurus Energy
Laurus Energy develops underground coal gasification (UCG) projects in North America using proprietary Exergy UCG Technology TM to unlock and capture value from otherwise un-mineable coal. The projects turn an abundant, domestic natural resource into a clean, low-cost synthesis gas for climate-friendly, economical energy production, chemicals, and other products. With Exergy's UCG process, coal is converted while still underground ("in-situ") into multiple gas streams that are easily separated at the surface into useful and sequesterable components resulting in a lower carbon profile than natural gas. Additionally, the Exergy UCG process eliminates a wide range of emissions, and requires no surface mining or ash disposal. Laurus Energy is headquartered in Houston and has offices in Montreal; Edmonton, AB, and Sheridan, WY. For more information, please visit http://www.laurusenergy.com.
SOURCE Laurus Energy
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