Many energy companies are establishing regional offices in Williston, Denver, and Billings. Magellan Petroleum announced Wednesday that they are moving their entire corporate office across the country to Denver citing that the new location will give them easier access to the Poplar field in Roosevelt county where they are the dominant force and still have ease of access to projects in other midwest states where they are establishing or already have operations.
When Robinson West, Chairman of the Board of Directors of Magellan Petroleum Company announced that Magellan’s Board of Directors has voted to move its headquarters from Portland, Maine to Denver, Colorado, their current CEO, William Hastings, who has led the company's work in the MonDak region tendered his resignation. Hastings will remain on the Board of Directors and will be submitted for another three-year term in the upcoming Proxy. Hastings will also remain central in the Company’s activities as Senior Advisor on growth ventures and business development.
Thomas Wilson, a consultant to Magellan for midwest energy development, was appointed by the board as the new CEO and President of the Company and he will lead the organization from its headquarters in Denver. Wilson will remain as a Director of the Company and also stand for re-election in December for an additional three year term. Magellan Petroleum Company is engaged in the sale of oil and gas and the exploration for and development of oil and gas reserves worldwide. Magellan is a relatively new player in US energy fields. The Maine office was established just a few years ago as they moved some of their Australian interests where the company originated and still holds offices to the United States. The leadership transition is expected to continue the company's increased presence on the Montana side of the MonDak line.
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