CALGARY, AB--(Marketwired - November 24, 2016) - Seven Generations (TSX: VII) has hired senior midstream executive Tim Stauft to head up the company's market development division, which is focused on identifying, evaluating and expanding new markets for 7G's growing liquids-rich natural gas and natural gas liquids production.
In addition to being named Senior Vice President of Seven Generations, Stauft has also been named Chief Executive Officer of the company's market development division. Stauft joins Charlotte Raggett, 7G's Vice President, Midstream Business Development, in the assessment and pursuit of new markets for the company's production.
"Our Kakwa River project has demonstrated the capacity to grow and thrive in North America's oversupplied natural gas market through the delivery of low-cost natural gas, condensate and natural gas liquids to available markets. Tim and Charlotte bring decades of experience and leadership that will help 7G evaluate and advance opportunities along the value chain for the company's growing production. The magnitude of our competitive resource base places Seven Generations in a unique position to potentially anchor market development initiatives such as gas-to-liquids conversion, electrical power generation, petrochemical manufacturing, as well as liquefied natural gas (LNG) and liquefied petroleum gas (LPG) export opportunities," said Marty Proctor, 7G's President and Chief Operating Officer.
"We recently acquired a minority interest in, and entered into a development agreement with, Vancouver's Steelhead LNG to evaluate the potential for exporting Canadian natural gas and natural gas liquids to Pacific markets. If Canadian LNG begins to replace coal for the generation of electricity in Asia, the result could be net lower carbon emissions globally. We continue to assess and advance discussions with a variety of entities on additional market opportunities that could potentially add value to our liquids-rich natural gas resources," Stauft said.
"Our core business remains steadfastly focused on generating long-term and sustainable value from our high-quality, tight-gas upstream assets - drilling and completing wells that deliver some of the lowest supply-cost natural gas in North America. The extent of our direct investment in midstream projects is expected to be modest, however we believe the size and quality of our liquids-rich resources could play a very important role underpinning market expansion initiatives in Canada and overseas," Proctor said.
From 2005 to 2015, Stauft was a senior executive with Aux Sable, most recently as President and Chief Executive Officer. Aux Sable is a midstream natural gas processing company with its core natural gas liquids fractionation facility in Illinois at the east end of Alliance Pipeline. Previously, Stauft was a principal at Purvin & Gertz, an independent energy consulting firm, and he has held positions at TransCanada Pipelines and Alberta Natural Gas Company. Stauft holds an MBA and a BSc in chemical engineering from Queen's University. Stauft is a director of the Woods' Home Society, Medical Mercy Canada, and has served as a director on several other community organizations in health and athletics.
Seven Generations Energy Ltd. is also referred to as Seven Generations, 7G or the company.
Seven Generations Energy
Seven Generations is a low-cost, high-growth Canadian natural gas developer generating long-life value from its liquids-rich Kakwa River Project, located about 100 kilometres south of its operations headquarters in Grande Prairie, Alberta. 7G's corporate headquarters are in Calgary and its shares trade on the TSX under the symbol VII.
Further information on Seven Generations is available on the company's website: www.7genergy.com.