Penn Hills boy makes BAD! Named head of Range Resources

[Divernan]

Jeffrey L. Ventura will succeed John H. Pinkerton as the president and CEO of Range Resources in a management move that puts an early proponent of Marcellus Shale development at the head of the Texas energy firm.

Mr. Ventura, who had served as president and chief operating officer of the Fort Worth company, was perhaps the single most influential executive in the development of the Marcellus Shale, having persuaded his company's management in 2003 to explore extraction opportunities in what was then considered a low-level, dried-up basin in Appalachia.
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"As if to prove his point, the company was quick to point out that its new CEO is a local boy, having grown up in Penn Hills and graduated from Penn State University with a degree in petroleum and natural gas engineering.

"One time, the former and future CEOs were surveying Marcellus Shale land in a helicopter when Mr. Ventura realized they were hovering above his childhood home. His mom came out and waved.

Read more: http://www.post-gazette.com/pg/11178/1156506-28-0.stm#ixzz1QTiA0njm

This guy made over $5 million last year - maybe he can afford to buy his Mom a new house in someplace safe from fracking - may British Columbia?

[Divernan]

1. Penn State grad, Ventura plans devoting rest of his career to raping Pennsylvania's environment.

"There's no reason why Range can't be a $50 billion to $100 billion company with thousands of employees," said Mr. Pinkerton.

Those figures could come courtesy of more than just the Marcellus Shale. Development in other shale formations under Pennsylvania, known as the Upper Devonian and Utica shales, are still in the exploratory process and should be ready for more widespread gas extraction by 2014, said Mr. Ventura.

Mr. Pinkerton has been grooming Mr. Ventura for the top job since 2006 and will now dedicate more time to addressing legislators on energy policy, he said. He remains one of the company's largest individual shareholders.

According to SEC filings, Mr. Pinkerton made $6.6 million in 2010 and Mr. Ventura made $5.3 million.

Read more: http://www.post-gazette.com/pg/11178/1156506-28-0.stm#ixzz1QTjEs4uH