Denbury Resources founder and CEO to step down

DALLAS - Oil and gas developer Denbury Resources Inc. said Thursday that founder Gareth Roberts will step down as chief executive about June 30 and be succeeded by Chief Financial Officer Phil Rykhoek.

Roberts, 56, will also give up his title as president and become co-chairman and chief strategist, the latter being a non-officer role.

Tracy Evans, a senior vice president, will become president and chief operating officer, the company said. Mark Allen, current chief accounting officer, will replace Rykhoek as CFO.

In a statement, Roberts said he will still be "100 percent financially and intellectually invested in this company" and focus more on strategic planning.

Denbury explores for oil and natural gas along the Gulf Coast and has major holdings in the Barnett Shale area of north Texas. The company is based in the Dallas suburb of Plano. In its most recent financial report, the company's profit more than doubled in the third quarter on energy prices that were higher than the year before.

Shares of Denbury rose 44 cents, or 3.4 percent, to close at $13.32.

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