NYTEX Welcomes New Vice President - Operations
DALLAS--(BUSINESS WIRE)-- NYTEX Energy Holdings, Inc. ("NYTEX", or the "Company") (OTCQB: NYTE), a Dallas-based energy holding company, is pleased to announce that Brian Gross has joined the NYTEX team as its Vice President - Operations. Mr. Gross will help lead drilling and development of the Company's expanding oil and gas leasehold interests and manage the day-to-day operations of its oil and gas wells.
Prior to joining NYTEX, Mr. Gross was the President and Operations Manager for Rio Vista Operating, where he was responsible for all drilling, completion and production operations in both conventional natural gas and coal bed methane wells in Oklahoma, and managed all operations and construction activities on two gas pipeline systems owned by Rio Vista. Mr. Gross has public exploration and production company experience by serving for two years as Operations Manager for Westside Energy (AMEX:WHT). During his tenure with Westside, he was responsible for all drilling, completion and production operations in the development of 70,000 acres of leasehold in the Barnett Shale, negotiation of joint ventures, farm outs, land leasing and oil and gas marketing agreements, participated in financing activities including bank loans, bridge financing and equity sales, and negotiated the purchase of oil and gas producing properties. Prior to his tenure with Westside, Mr. Gross served as Completion and Production Engineer for Chief Oil and Gas during which he designed over 400 Barnett Shale frac jobs, managed daily production operations for Chief's Johnson and Hill County producing properties, designed and installed various forms of artificial lift and gas pipeline facilities, and coauthored an SPE (Society of Petroleum Engineers) paper about Barnett Shale frac techniques (SPE 102063).
After graduating from Texas Tech University with a Bachelor of Science Degree in Petroleum Engineering, Mr. Gross began his petroleum engineering career working four years for Chesapeake Energy (NYS: CHK) , first as a Field Production Engineer and then as Staff Production Engineer. Mr. Gross brings to NYTEX a total of 19 years of both upstream and midstream oil and gas professional industry experience.
NYTEX maintains approximately 7,600 leasehold acres in inventory for future development and recently drilled and successfully completed six Marble Falls wells in which the Company owns an approximately 12% average working interest. The Company maintains an ongoing leasehold acquisition and development drilling initiative in the Marble Falls play.
Michael Galvis, NYTEX President and CEO, commented, "We are excited by the addition of Brian to our team. He brings a wealth of experience and knowledge to NYTEX and we expect he will have an immediate positive impact as we expand our exploration and production operations in the Marble Falls play and beyond."
About NYTEX Energy Holdings, Inc.
NYTEX Energy Holdings, Inc. (website: http://nytexenergyholdings.com) is an early-stage exploration and production (E&P) company engaged in the acquisition, development, and production of oil and gas reserves from low-risk, high rate-of-return wells in shallow carbonate reservoirs. Our strategy is to enhance value for our shareholders through the development of a well-balanced portfolio of natural resource-based assets at discounted acquisition and development costs.
This press release includes "forward-looking statements," which may include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this release, the words "will," "intends," "expects," "outlook," "forecast," "estimates," "anticipates," "projects," "plans," "believes," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. The company's ability to achieve the financial targets described in this press release is subject to numerous factors and contingencies, many of which are beyond the company's control. These include local and national economic, credit and capital market conditions, including prevailing interest rates; legal and regulatory developments, including changes to tax rates, applicable securities regulations or accounting standards, and ability to obtain necessary licenses and permits; and geopolitical conditions, including the occurrence of acts of war or terrorist incidents, and weather or natural disasters. Any of these factors or others not named herein could cause the company's actual results to differ materially from those expressed as forward-looking statements. In addition, other risk factors that could cause actual results to differ materially from the forward-looking statements contained in this release include those that are discussed in the company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no, and expressly disclaims any, obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
NYTEX Energy Holdings, Inc.
Bryan A. Sinclair, 972-770-4700
Investor Relations Contact:
Consulting for Strategic Growth 1 Ltd.
Stanley Wunderlich, 800-625-2236 ext. 7770
KEYWORDS: United States North America Texas
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