October 25, 2014 6:32 PM ET

Energy Equipment and Services

Company Overview of Glori Energy, Inc.

Company Overview

Glori Energy Inc., an energy technology company, provides biotechnology to facilitate the production of oil. The company provides activated environment for recovery of oil system, a biotechnology process for enhancing oil recovery from existing reservoirs for third party exploration and production companies. It also acquires and operates mature oil fields onshore in the United States. The company was founded in 2005 and is headquartered in Houston, Texas.

4315 South Drive

Houston, TX 77053

United States

Founded in 2005

39 Employees

Phone:

713-237-8880

Key Executives for Glori Energy, Inc.

Chief Executive Officer
Age: 51
Total Annual Compensation: $332.2K
Chief Financial Officer
Age: 61
Total Annual Compensation: $254.3K
Senior Vice President of Business Development
Age: 55
Total Annual Compensation: $419.9K
Compensation as of Fiscal Year 2013.

Glori Energy, Inc. Key Developments

Glori Energy Inc. Appoints James C. Musselman to its Board of Directors

Glori Energy Inc. announced the addition of Mr. James (Jim) C. Musselman to its board of directors. Mr. Musselman has led various successful E&P ventures, including Kosmos Energy, where he and his team discovered the Jubilee Field offshore the Republic of Ghana in 2007. Mr. Musselman is currently the President and Chief Executive Officer of Caelus Energy LLC where he and his team have been evaluating new exploration and development opportunities across Alaska since acquiring Pioneer Natural Resources' Alaska subsidiary in April 2014.

Glori Energy Inc. Acquires $2 Million East Texas Oil Property

Glori Energy Inc. announced that it has acquired three additional leases at Coke Field in Wood County, Texas from a private seller for $2 million. The leases contain two wells producing 37 barrels of oil (27 barrels net) per day and one water injection well. Glori expects to increase production rates at these sites by tying the wells into its current operations infrastructure at Coke Field to reduce well downtime.

Rocky L. Duckworth Joins Glori Energy's Board of Directors

Glori Energy Inc. announced the addition of Mr. Rocky L. Duckworth to its board of directors. A former KPMG partner, Mr. Duckworth brings more than 37 years of oil and gas business and audit related experience to the Glori board. Glori intends that Mr. Duckworth will ultimately transition into the role of Chairman of the Audit Committee. In addition, current Glori board members Larry Aschebrook and Michael P. Schulhof have stepped down as directors.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 2, 2014
Three Additional Leases at Coke Field in Wood County, Texas
Private Placement
March 13, 2014
--
Merger/Acquisition
February 6, 2014
Petro-Hunt, L.L.C., Producing Oil Assets in Coke Field and Other Operated Production
 

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