STAMFORD, Conn.--(BUSINESS WIRE)--April 14, 2005--GE Commercial Finance Energy Financial Services announced today that P. Richard "Dick" Gessinger has joined its Oil and Gas unit as vice president of origination. He will originate partnership investments with independent private and public oil and gas producers to acquire or monetize proven reserves.
"Dick's experience as a commercial banker, investment banker, and exploration and production company executive gives him a rare blend of qualifications as a financial originator," said John Schaeffer, the GE Commercial Finance Energy Financial Services Managing Director who heads its Oil and Gas unit. "We're delighted to have Dick join our team."
Gessinger, who is Stamford-based, has more than 30 years experience as an energy finance professional, most recently having served as chief financial officer of a NYSE-listed Gulf Coast energy exploration company. His corporate finance experience has helped many energy companies grow throughout the oil and gas industry's economic cycles. Gessinger holds an MBA in Corporate Finance and a BA degree in Political Science, both from Emory University.
Since 1991, the unit's 18 professionals have provided $2.2 billion in partnership equity and $300 million in senior secured debt for its partner-operators who benefit from the team's industry expertise and long-term investment orientation. Based in Stamford, Connecticut, with offices in Houston, Texas and Denver, Colorado, EFS's Oil and Gas unit currently has more than $1.5 billion of investments with estimated daily production of 140 million cubic feet of natural gas and 31,000 barrels of oil. Visit: www.oilandgaspartners.com
About GE Commercial Finance Energy Financial Services
GE Commercial Finance Energy Financial Services, based in Stamford, Connecticut, invests about $3 billion annually in the world's most capital-intensive industry, energy. With more than $11 billion in assets under management, GE Commercial Finance Energy Financial Services offers structured equity, leveraged leasing, partnerships, project finance and broad-based commercial finance to the global energy industry from wellhead to wall socket. For more information, visit www.geenergyfinancialservices.com.
About GE Commercial Finance and GE
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
GE Commercial Finance
Ken Koprowski, 203-961-5743
[email protected]
Jeff Wilson
GE Capital Corporate Finance
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1-203-749-6340