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COPYRIGHT 2005 Hart Publications, Inc.
On May 16, Noble Energy Inc.'s $3.6-billion purchase of Denver-based Patina Oil & Gas Corp. closed and Patina's chairman and chief executive officer, Thomas J. Edelman, found himself an alumni of another successful merger, free to take a break or begin again.
Previously, Edelman had co-founded Snyder Oil, now part of Devon Energy Corp., where he was president for 16 years after starting his career as an investment banker on Wall Street. In 1988, he acquired control of and restructured Range Resources Corp. and was its chairman until 2003. In 2000, he led the buyout of Bear Paw Energy, arranging its sale to Northern Border Partners 15 months later. In total, he has acted as a principal in almost a dozen energy transactions in the past 25 years.
Edelman had plenty of preparation, having completed his undergraduate work at Princeton and graduate work at Harvard. With nothing but success so far, his career path after selling Patina was clear: he had begun looking for new E&P opportunities even before the merger closed.
Oil and Gas Investor recently sat down with Edelman to learn his secrets behind his 100% success rate, and to find out where he might place his golden touch next.
Investor You just finished the sale of Patina. Did everything go well?
Edelman Everything went extremely well. The market has steadily pushed up the price of the combined entity. At this point, the company simply needs to be run well....
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