Denbury Resources Inc.’s (NYSE: DNR) board of directors has selected John P. Dielwart to serve as its chairman of the board, succeeding Wieland F. Wettstein, a founding stockholder of the company, who has served as chairman of the board since 2008 and a member of the board since the company’s inception in 1990.
This change is part of the company’s succession planning process. Wettstein will be standing for reelection to the board at the upcoming annual meeting to further facilitate a transition of the chairmanship.
Dielwart has been a member of the board since 2013 and has served on the Compensation, Reserves and HSE, and Risk committees during his tenure. He is a founder and former CEO, as well as a current member of the board of directors, of ARC Resources Ltd., a publicly traded Canadian oil and gas company. Dielwart oversaw the growth of ARC, first as its president and then as CEO from its startup in 1996 until his retirement in January 2013.
Dielwart is currently vice chairman of ARC Financial Corp., a position he assumed after his retirement from ARC. He is also a member of the board of directors of Tesco Corp. and TransAlta Corp. Prior to joining ARC, Dielwart spent 12 years with a major Calgary-based oil and natural gas engineering consulting firm as senior vice president and director. He served two separate three-year terms as a governor of the Canadian Association of Petroleum Producers (CAPP), including 18 months (2002 to 2004) as chairman. Dielwart is also a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). He received a Bachelor of Science degree in civil engineering from the University of Calgary.
Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the US Gulf Coast and Rocky Mountain regions.