Darwin L. Stump, CPA

Spring, TX ***** 304-***-**** ad4fpw@r.postjobfree.com

www.linkedin.com/in/darwin-stump

CORPORATE FINANCE & ACCOUNTING LEADERSHIP

Acquisitions & Divestitures Hedging Strategies Public & Private Partnerships

Versatile, high-energy finance executive who develops competitive strategies that lead companies through change and challenge, using performance improvement to achieve growth and success. A pragmatic thinker who can architect strategies while also being tactical and hands-on. Executes those strategies and directs resources to ensure corporate goals are met while developing and implementing financial procedures to improve and maintain the financial health and growth of an organization.

Strategic Thought Leader - Distills complex business problems into tangible revenue and margin-driven growth with a relentless commitment to performance improvement. Conducts insightful financial analysis, resulting in significant strategic input and targeted advice.

SEC & Sarbanes-Oxley Experience - Strong track record working with and exceeding corporate governance and SEC reporting needs for publicly traded corporations, including 10-K and 10-Q filings, proxy statements, and stock offering documentation. Navigates through the complexity of regulations, gaining compliance with ever-evolving policies.

Financial Strategist - Ensures that decision-making is properly informed with financial metrics; identifies risk mitigation tools; anticipates and optimizes cash flow requirements; assists with financial modeling and planning. Expertise in land and marketing matters, examining opportunities through a governance lens to prevent potential risks. Evaluates and integrates acquisitions/divestitures as well as de novo growth and expansion.

Leadership - In command of an ever-changing array of tools that constantly push the envelope of innovation; implements high-level planning that drives the successful execution of initiatives with a relentless commitment to quality, employee engagement and client satisfaction. Builds strong, dedicated teams and instills a high-performance, ethical culture.

PROFESSIONAL EXPERIENCE

Swan Energy, Inc. Houston, TX 2022- 5/2023

Controller and HR Director

Leadership of the Accounting and HR functions with a focus of improvement of controls and procedures to increase the accuracy of the financial data and statements. Manages, along with a small staff, a ‘hands-on’ approach to treasury and cash management, oil and gas revenue distributions, accounts payable, collections and general ledger functions for seven related companies and thirty joint ventures. Developed and maintains a complex multi-company cash flow and forecasting model. Completed successfully several complicated divestitures and acquisitions.

Viking Energy Group, Inc., Houston, TX 2021 - 2022

CHIEF ACCOUNTING OFFICER

Leadership of the Accounting Department, with a focus on strengthening internal controls, process efficiencies, and policy improvements. Prepares SEC financial statements and oversees Treasury, cash management, and the divestiture of assets. Manages transaction accounting, SOX, the closing process, and other financial controls; collaborates with senior management to ensure internal compliance. Oversees General Ledger functions; assures accuracy, timeliness, and conformity with professional accounting standards and best practices in accordance with GAAP.

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PDC Energy, Inc., Denver, CO 1980 to 2020

VICE PRESIDENT OF ACCOUNTING (2009 – 2020)

Drove cohesion and engagement of remote teams, managing accounting functions including AR, AP, revenue, JIB, E&P, and partnership accounting. Directed multiple acquisitions and divestures, executed successful transactions that improved financial performance, seamlessly transitioning assets into and out of the organizational structure. Reshuffled portfolios to maximize liquidity and directed the divestiture of mature assets for reinvestment in exploration and production.

Protected the balance sheet and operated within cash flow, directed preparation of SEC financial statements, MD&A, and footnotes. Collaborated with independent auditors on financial and SOX audits. Led partnership activities, directing the subsequent dissolution of 33 public and private partnerships.

Reduced the monthly accounting close by nearly 50%, allowing the company to file its financial statements (forms 10-K&Q) and to broadcast their earnings calls much earlier than previously. Also allowed executive management to make better informed business decisions.

Directed a buy-back of 12 partnerships, with over 90% of investors voting in favor of selling their interests to PDC, the firm bought back the 12 partnerships, saving $2.25 million a year in costs, acquiring hundreds wells to recomplete, and over ten thousand acres to drill.

Negotiated a favorable settlement of a class action suit against a gas marketing subsidiary for pennies on the dollar; settling for 10% of what was requested, which was less than $1 million.

Led the dissolution of another 12 public partnerships via bankruptcy and obtained a “No Action” letter from the SEC, potentially saving millions of dollars. Firm ultimately saved approximately $25 million of restatement costs and purchased through bankruptcy the partnerships’ assets, which included over 100 Wattenberg wells available for recompletion and thousands of acres available for drilling of horizontal wells.

Collaborated with external auditors (PwC) and Land Department to avoid a “Material Weakness” on the financial statements under the Sarbanes Oxley (SOX) Act. Proved that the amount of $150 million recorded as assets was correct.

Established and managed the mid-stream business that came out of three acquisitions and a 2.5-year build out. Eventually sold the assets to three different mid-stream companies in mid-2019 for over $500 million, including incentives.

CHIEF ACCOUNTING OFFICER (2006 – 2009)

Accountable for Partnership Management, Operations, and Accounting functions. Member of the Strategic Planning, 401k & Profit Sharing, Hedging, and Partnership Dissolution Committees. Maintained overall leadership of the Accounting Department, oversaw budget, audit, and forecasting activities, and led acquisitions and divestiture efforts.

CHIEF FINANCIAL OFFICER (2003 – 2006)

Optimized the financial performance of the company, including its reporting, liquidity, and return on investment. Led Treasury operations and banking relations. Guaranteed the enterprise met its financial commitments and efficiently managed cash flow. Administered the company’s cash balance and working capital, such as accounts payable and receivable; handled any debt concerns, investments, and other liquidity-related decisions. Oversaw the Controller’s group preparation of the historical financial reports required for shareholders, employees, lenders, research analysts, governments, and regulatory bodies; ensured all reporting was prepared in an accurate and timely manner. Presented financial data for earnings calls and road show presentations. Served as President of PDC Securities and led partnership marketing activities for the 10 largest partnerships; managed the buyback of 44 non-public partnerships, proxies, and marketing efforts. Member of Executive and Hedging Committees.

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CORPORATE CONTROLLER (1980 – 2003)

Managed the Accounting Departments AR, AP, revenue, JIB, E&P, financial reporting, tax, and partnership accounting.

EDUCATION & CERTIFICATIONS

Bachelor of Science, Business Administration, Accounting West Virginia University Morgantown, WV

Certified Public Accountant, State of Texas & West Virginia

CORE COMPETENCIES

Upstream and Midstream Activities Subsidiary Accounting Investor Relations

SEC Financial Reporting Risk Analysis / Valuation Compliance Controls

Broker / Board Presentations Treasury / Cash Management Gas Marketing Companies

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