W&T Offshore Inc. (NYSE: WTI) said Aug. 13 that J. Daniel "Danny" Gibbons has retired, effective immediately, after 11 years with the company as CFO.
As a result, the Houston-based E&P appointed Janet Yang, the company's vice president of corporate and business development, as acting CFO. Overall, Yang has more than 15 years of finance, investment and strategy experience in the energy industry.
Yang has been with W&T Offshore since 2008 after joining the company as a finance manager. In 2012, she became director of strategic planning and analysis, a position she held until being appointed to her current role in 2017.
Prior to joining W&T, she held positions in research and investment analysis at BlackGold Capital Management, investment banking at Raymond James and energy trading at Allegheny Energy. She received a B.A. in Economics from Rice University and an M.B.A. with concentrations in Finance and Accounting from The University of Chicago Booth School of Business.
Tracy Krohn, W&T Offshore's Chairman and CEO, stated, "We appreciate the many contributions that Danny has made to W&T over the last 11 years as CFO of the company and wish him well in his retirement. Since joining W&T in 2008, Janet has taken on increasing levels of financial responsibility and proved herself to be a valuable asset to the company. She has helped the company successfully execute a number of strategic transactions, including our recently announced drilling joint venture. We are pleased to have her take on this role."
In March, W&T Offshore entered into joint exploration and development agreements with a group of undisclosed investors to drill up to 14 specified projects in the Gulf of Mexico (GoM) over the next three-plus years. The anticipated project level commitment is for up to $419.6 million.
W&T Offshore currently has working interests in 48 producing fields in federal and state waters and has under lease about 650,000 gross acres, including roughly 440,000 gross acres on the GoM Shelf and some 210,000 gross acres in the deep water, according to the company press release.
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