Next Bridge Hydrocarbons, Inc., a private oil and natural gas exploration and production company based in Fort Worth, announced on Wednesday the appointment of Greg McCabe as a director and chairman of its Board of Directors, effective immediately.
Clifton DuBose Jr., Next Bridge's current chairman, will remain on board as a director and continue as CEO, the company announced in a press release.
Next Bridge has interests in Texas and Oklahoma.
“Next Bridge is an exciting and dynamic company,” said McCabe in a statement. “Clearly, Clifton and Next Bridge's leadership have positioned the company for significant and opportunistic growth.”
McCabe, who brings almost 40 years of experience to his job, and geologist Rich Masterson were extremely active in the early development of the Wolfbone play in the Delaware Basin portion of the Permian Basin.
That experience and knowledge in the Wolfbone play helped formulate McCabe’s and Masterson's theories and concepts in the Orogrande Basin.
“With my background and expertise from the Orogrande Basin, I look forward to participating in that process, while supporting the continued success of Next Bridge for its stakeholders,” said McCabe, who graduated with a bachelor’s in geology in 1984 from Sul Ross State University.
“On behalf of the Board of Directors, I am delighted to welcome Greg and transition my role as chairman to his capable leadership,” DuBose said. “Adding someone of Greg's stature and experience to our board provides a significant vote of confidence in our business model and outlook. I am personally excited because he has vast knowledge of the Orogrande Basin.”
In October 1984, McCabe formed McCabe Petroleum Corporation, which he owns and manages today. McCabe has active ownership in several other oil and gas entities including Manix Royalty, Texas Rock Oil, and TRO-X.