Ralph A. Hill is stepping down as CEO of Apco Oil and Gas International Inc. on December 31, the Tulsa-based company said Thursday.
Hill will also leave WPX Energy, which owns a controlling 69 percent interest in Apco.
Bryan K. Guderian, pictured, will take over as CEO.
Apco said the rest of its management team will remain in place.
Guderian, who has more than 30 years of oil and natural gas industry experience, has been on Apco’s board since 2002.
He now serves as senior vice president of operations at WPX, responsible for the company’s international interests.
Apco (APAGF: NASDAQ) focuses on oil and gas exploration and production in South America. It began E&P activities in Argentina in the late 1960s and has interests in eight oil and gas producing concessions and two exploration permits in Argentina, and three exploration and production contracts in Colombia.
Apco is 69 percent owned by WPX Energy, Inc. (NYSE: WPX). WPX was a wholly owned subsidiary of The Williams Companies, Inc. until it was spun off in 2011.
Interim WPX CEO James Bender will replace Hill on Apco’s board.
“Apco is in good hands, having recently completed another orderly transition with Michael Kyle succeeding Thomas Bueno as president,” board member Keith E. Bailey said. “Our board is very familiar with Jim and Bryan, whom we have known for many years.”