The 67-year-old is stepping down less than two months after the explorer admitted it had been forced to seek strategic alternatives such as asset sales to "streamline its portfolio" and get its debts under control.
Despite more than doubling production year-on-year to around 23,900 boe per day in 2013, the company saw acquisition, impairment and derivative costs sink its fourth-quarter result to a loss of $315.8
