Philadephia-based Pardee Resources (OTC: PDER), which has coal landholding and power production interests, said June 14 that William Foulke has been elected as its new board chairman.
Foulke has served as a director of the company, and its predecessor companies, since 1975.
“Bill’s assumption of the chairmanship of Pardee Resources represents a continuity of leadership that has greatly benefited the Company,” said Carleton Erdman, president and CEO of Pardee Resources. “Bill’s extensive experience as a Pardee director, and Chairman of its Executive Committee as well as his successful career in business and banking and on other boards, make him an ideal choice for this important role as we continue to pursue our growth objectives.”
Foulke follows his brother, Walter Foulke, as PRC board chairman. Walter Foulke served on the PRC board for 45 years, and was instrumental in overseeing PRC’s significant growth during that period.
“Walter Foulke helped to transform PRC into the innovative natural resource asset management company that it is today,” Erdman said. “Under his leadership, we have greatly expanded in terms of property holdings, revenue, technological capabilities, and the quality of our employee and executive team. We thank Walter for his service and look forward to continued growth under Bill’s leadership.”
Also, Pardee said June 14 that Thomas Lopus has been named as Senior Vice President, Oil & Gas.
“Tom’s addition to our senior management team will significantly enhance our capabilities in managing PRC’s oil and gas property holdings and in identifying new opportunities, said Erdman. “Tom brings great depth of experience and insight into all phases of oil and gas asset exploration, development, and management.”
Lopus will have executive oversight and responsibility for all of PRC’s oil and gas operations, including asset evaluation and acquisition. He has more than 30 years experience in oil and natural gas exploration, development, and production, especially in the Gulf states and the Appalachian region.
Pardee Resources focuses on the acquisition, management, and responsible development of natural resource properties. The company manages rights for coal, oil, natural gas, minerals, and timber on properties in 13 states, and owns approximately 195,000 acres of timberland, over 300 million tons of coal reserves, and approximately 10 billion cubic feet equivalent of oil and gas reserves. The firm also owns distributed solar-generated electricity installations in New Jersey and California totaling 8.6 MW.
