Michael C. Coffman, 63, President and Chief Executive Officer of Panhandle Oil and Gas Inc. in Oklahoma City, has announced his retirement effective December 31, 2016. Panhandle’s board of directors intends to follow its succession plan and name Paul F. Blanchard, Jr., 55, currently Panhandle’s Senior Vice President and Chief Operating Officer, to succeed Coffman upon his retirement.
“Paul has an extensive background in the energy industry and has gained a complete understanding of Panhandle’s unique asset base and business strategies over the last seven years,” said Coffman. “He has continually demonstrated his leadership abilities and the integrity so valued by our shareholders, employees and directors.”
Blanchard joined Panhandle in 2009 as Vice President and Chief Operating Officer and was named Senior Vice President and Chief Operating Officer in 2010.
Blanchard holds a Bachelor of Science degree in Petroleum Engineering from the University of Oklahoma and has 34 years of experience in the industry with 26 years in the Mid-Continent area. Prior to joining Panhandle, he was the sole proprietor of a consulting petroleum engineering firm from 2007 to 2008. Blanchard also served as the Vice President, Mid-Continent Business Unit of Range Resources Corporation in Oklahoma City from 1997 to 2007. Blanchard served as Operations Manager and Senior Reservoir Engineer with several large independent oil and natural gas producers in Oklahoma City, including experience with EOG Resources and Texas Oil and Gas Corporation.
Coffman joined Panhandle in 1990 and has served as Treasurer, Vice President and Chief Financial Officer, Co-President and President and Chief Executive Officer since 2007. He has served as a Director since 2006.
Coffman holds a Bachelor of Science degree in Business Administration from Oklahoma State University. He is a Certified Public Accountant. Since 1975, Coffman has worked in public accounting and as a financial officer of three publicly owned companies involved in the oil and gas industry. He also served as the Chief Financial Officer, Vice President, Secretary and Treasurer of Wood Oil Company. Coffman currently serves as Director of the Oklahoma City Branch at Federal Reserve Bank of Kansas City.
