Magellan Petroleum Co., a publicly traded oil and gas firm, will move its headquarters from Portland, Maine, to Denver, the company announced Wednesday.
Magellan produces natural gas out of Australia’s Amadeus Basin and is exploring in the Bonaparte Basin. It also has exploration rights in southern England.
Magellan controls Denver-based Nautilus Poplar LLC, which operates in the East Poplar Unit and the Northwest Poplar Field in Roosevelt County, Mont.
“Colorado is rich in resources in all kinds of energy, and it’s always good to bring in a company of their quality and caliber to Colorado,” said Tom Clark, executive vice president of the Metro Denver Economic Development Corp. “It’s a great fit.”
The company, founded in 1957, lists 42 employees and had a market value of $66.2 million at the close of trading Wednesday.
J. Thomas Wilson, a consultant to the company, will take over as chief executive and president after current CEO William Hasting decided not to make the move to Denver.
Staff writer David Migoya contributed to this report.
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or
