Ed, it was recently announced, will be promoted to chief operating officer for Venoco as Tim Marquez, founder of the company, plans to step down as CEO in the third quarter of this year. At that time, Mr. Marquez will become executive chairman of the board and will continue in an active role directing the company’s growth and acquisitions strategy while Ed will become the new CEO.
“We are very excited to have Ed take over responsibility for the company’s entire operations,” said Mr. Marquez. “I have worked with Ed for more than 30 years and he has been responsible for the company’s key oil assets for the better part of 15 years. In addition to that experience, he brings an extensive educational background in both engineering and business.”
“I look forward to being able to focus a much greater percentage of my time on growth opportunities for the company through acquisitions, partnerships and exploration. We are very fortunate to have a strong base of oily, long-lived, low-decline properties in Southern California with predictable production and solid cash flows that provide a steady platform for pursuing these other opportunities.”
Ed has served as senior vice president for Southern California operations since 2007. He originally joined Venoco in 1997 as vice president of development, after which he was promoted to vice president of the offshore business unit. He has served two terms on the board and served as President of the company’s domestic division from 2001 to 2002.
Ed has a B.S. in petroleum engineering from Montana Tech, an M.S. in petroleum engineering from the University of Southern California, and an MBA from Pepperdine University’s Graziadio School of Business and Management. He has been a member of the Society of Petroleum Engineers as well as the American Petroleum Institute.