Vinita – Jim Richie (Tulsa), co-founder and chief auctioneer for Kruse Energy & Equipment LLC, has been appointed to fill the vacant position on the Grand River Dam Authority Board of Directors. Oklahoma Speaker of the House T.W. Shannon appointed Richie to the spot, to fill a position previously held by Brent LaGere (Chandler). Richie began his service at the board’s January 22 meeting in Vinita. His term expires August 28, 2016.
Richie has been involved in the oilfield auction industry since 1981. He is a graduate of the Gregg School of Auctioneering and has worked in every aspect of the industry, from the clerk and cashier position to bid calling. Today, he is considered one of the top auctioneers in the country, and has been involved in over $2 billion in auction sales.
“Mr. Richie’s business experience and background in the energy industry will be a great addition to our organization,” said GRDA Chief Executive Officer/Director of Investments Dan Sullivan. “The management team looks forward to the opportunity to work with him.”
GRDA is governed by a seven-member board of directors, comprised of representatives from each GRDA customer class (municipals, electric cooperatives and industrials) as well as the GRDA lakes area. Two at-large representatives also sit on the board. Appointments are made by the Oklahoma Governor (3), Speaker of the Oklahoma House of Representatives and President Pro Tempore of the Oklahoma State Senate. Two other board positions are ex-officio, filled by the general manager of the OAEC and the executive director of the Municipal Electric Systems of Oklahoma (MESO) or by their designees.
Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility; fully funded by revenues from electric and water sales instead of taxes. Directly or indirectly, GRDA’s low-cost, reliable electricity touches 75 of 77 counties in the state. At no cost to taxpayers, GRDA also manages 70,000 surface acres of lakes in the state, including Grand Lake, Lake Hudson and the W.R. Holway Reservoir. Today, GRDA’s 500 employees continue to produce the same “power for progress” that has benefited the state for 75 years.
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