Tony Buchanon has joined Crestone Peak Resources as CEO, effective August 8, 2016. Buchanon has also been named to the company's Board of Directors.
Buchanon has experience in the development of the DJ Basin in Colorado, having most recently served as executive vice president, COO at Bonanza Creek Energy (NYSE: BCEI), and previously as production operations manager for Noble Energy Inc.
Buchanon brings more than 34 years of industry experience to his new role as CEO. Before focusing on the DJ Basin, he served in a variety of management roles for Rosetta Resources Inc., Trend Exploration Company, Burlington Resources Inc., and Mobil Exploration and Production.
Denver, CO-based Crestone is a newly formed entity under the joint partnership between the Canada Pension Plan Investment Board (CPPIB) and The Broe Group. On July 29, 2016, Crestone announced the acquisition of the DJ Basin oil and gas assets from Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp. The sale included all of Encana's DJ Basin acreage, comprising 51,000 net acres.