Resume - Petroleum engineer with 25 years of energy industry experience. Strong quantitat...

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Resume #901

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RONALD IDOM
4147 Manorview
Dallas, Texas 75228

Home: 972-686-9329
Cell: 214-762-2957
Roni32@aol.com

SUMMARY

Goal oriented professional with petroleum engineering background and over twenty-five years of varied experience in the energy industry. Possess strong quantitative and analytical skills as well as extensive managerial expertise. An energetic, innovative individual with excellent work ethic who has demonstrated getting results.

PROFESSIONAL EXPERIENCE

DEVX ENERGY, INC. / QUEEN SAND RESOURCES 1997 – 2002

DEVX ENERGY, INC.    2001 – 2002
Senior Vice President, Exploration & Production – Dallas, Texas
Supervised Geology/Exploration, Engineering and Land Departments. Negotiated three exploration joint ventures in south Texas and west Texas with annual budget of $8-9 million out of total capital budget of $30 million. Directed 75 well drilling program, acreage acquisition and building of pipeline and treating facilities for New Albany Shale project. Evaluated companies for possible merger or purchase, which ultimately resulted in sale of DevX to Comstock Resources for approximately $150 million. In conjunction with CFO negotiated merger agreement and coordinated merger.

DEVX ENERGY, INC.    2000 – 2001
Vice President, Engineering – Dallas, Texas
After recapitalization of Queen Sand Resources, company named was changed to DevX Energy, Inc (listed on NASDAQ). Responsibilities were increased to include oversight of all engineering functions of the company including operations, reserves and economics, acquisitions and asset management. Divested four property packages through direct negotiations and auction. Company controlled interest in 600+ wells concentrated in Texas, Oklahoma and Kentucky and operated approximately 100 of these wells.

QUEEN SAND RESOURCES    1997 – 2000
Vice President, Acquisitions – Dallas, Texas
Evaluated producing and non-producing properties for possible acquisition and upside potential. Reviewed over 200 packages and closed on $165 million in properties ranging in size from $2 million to $150 million. Technical representative on three-man roadshow in the US and Europe to raise $125 million in high yield bonds and $35 million in private equity.

USX / TEXAS OIL & GAS CORP.    1985 - 1997

DELHI GAS PIPELINE CORPORATION (USX)    1991 - 1997
Manager Gas Supply - Dallas, Texas
Led and directed the gas supply effort and contract administration functions for the East Texas region with three gas buyers and four contract administrators. Negotiated with producers to connect wellhead supply to Delhi’s system involving short term and long term agreements including gas purchase, interstate and intrastate transportation, gas processing and gas treating services. Connected 150 to 250 BCF per year. Administered 340 contracts representing 390 Mmcfd of supply. Identified areas for expansion and growth. Reviewed reserves and project economics. Prepared business plans, forecasts and reviews.
RONALD IDOM    Page 2

DELHI GAS PIPELINE CORPORATION (Texas Oil & Gas Corp. / USX)    1988 - 1991
Manager Engineering / Project Development - Dallas, Texas
Managed sixteen professionals in the System Engineering group and Project Development group. Evaluated acquisition of companies, pipelines and facilities. Reviewed non-strategic properties for disposition and negotiated sale of facilities. Prepared annual business environment and strategic planning review. Coordinated annual business plan and capital budget for entire company. Prepared presentations and speeches for the President to present at various functions.

TXO PRODUCTION CORP. (Texas Oil & Gas Corp. / USX)    1985 - 1988
Chief Reservoir Engineer - Dallas, Texas
Department of six reservoir engineers and three technicians responsible for preparing and tracking in-house reserves for drilling program economics and finding cost calculations. Prepared quarterly drilling review assessments for 1000+ well drilling program. Coordinated with outside consultants for preparation of annual reserve report for SEC reporting purposes, government reports and bond indentures.

NRM PETROLEUM (Natural Resource Management)    1983 - 1985
Acquisitions Engineer - Dallas, Texas
Evaluated producing and non-producing properties for possible acquisition and upside potential for purchase by income fund company. Purchased over $300 million in properties ranging in size from $2 million to $60 million.

SELF EMPLOYED    1980 - 1983
Independent Consultant - Dallas, Texas
Generated prospects for drilling wells in the Texas Gulf Coast area. Consulted for small independents monitoring outside operations, reserve and economic evaluations, budget preparations and coordination of drilling and production operations.

TEXAS OIL & GAS CORP.    1976 - 1980

DELHI GAS PIPELINE CORPORATION (Texas Oil & Gas Corp.)    1978 - 1980
Staff Reservoir Engineer - Dallas, Texas
Responsibilities included evaluating individual wells for connection to pipeline, reserves and economics. Evaluated areas for major extensions of existing pipelines. Major areas - East Texas and Gulf Coast.

TXO PRODUCTION CORP. (Texas Oil & Gas Corp.)    1977 - 1978
District Engineer - Wichita, Kansas
One of two engineers in the Kansas District. Responsibilities included everything from prospect generation to maintenance of wells. Involved in all aspects of drilling, completing and producing wells.

TXO PRODUCTION CORP. (Texas Oil & Gas Corp.)    1976 - 1977
Staff Engineer - Dallas, Texas
Responsible for Southeastern and Gulf Coast Districts. Included review of in-house reserves, property evaluations and coordination and review of farm out proposals from district with upper management.

EDUCATION
B.S. Petroleum Engineering, Texas A & M University
Graduated May, 1976, Summa Cum Laude

AFFILIATIONS
Society of Petroleum Engineers, ADAM Energy Forum, Texas Independent Producers and Royalty Owners

PERSONAL
Born: September 17, 1954, married/two children

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