HNRG on Nasdaq
HALLADOR ENERGY CO
American electric services company based in Terre Haute, active since 1985. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerHNRG on Nasdaq2
- IndustryElectric Services2
- HeadquartersTerre Haute, United States2
- Incorporated inCO3
- Business address1183 East Canvasback Drive, Terre Haute, In 478023
- Filer categoryAccelerated filer3
- Legal formFor-Profit Corporation2
- LEI254900GKEQRHOI2SSC192
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O Colorado Registered Agents Inc, 80124 Denver, United States2
- Registered withBusiness Division of the Secretary of State’s office, 198716517052
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Hallador Energy Company (“Hallador” or the “Company”) is a vertically integrated, independent power producer (“IPP”) and fuel company with operations primarily in Indiana. The Company operates across multiple stages of the energy value chain, from accredited capacity and energy to coal. The Company’s electric operations are located within the Midcontinent Independent System Operator’s ("MISO") footprint. Our operations comprise Hallador Power Company, LLC (“Hallador Power”) that provides accredited capacity and energy to utilities and other energy market participants through its MISO interconnection, and Sunrise Coal, LLC (“Sunrise”) that mines bituminous coal in Indiana to serve various power plants in the Midwest and Southeast United States.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
13.0%Operating margin5
8.9%Net margin5
16.2%Revenue growth, 20255
26.2%Return on equity5
0.19×Debt to equity5
$11.9MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Delivered Energy brought in 55% of the revenue HALLADOR ENERGY CO broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Delivered Energy | $203.4M | $252.6M |
| Coal Sales | $137.4M | $148.7M |
| Accredited Energy Capacity | $58.1M | $58.1M |
Business segments
Electric Operations brought in 68% of the revenue HALLADOR ENERGY CO broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Electric Operations | $261.5M | $310.7M |
| Coal Operations | $137.4M | $148.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin6¢$26.2M
- Other costs82¢$382.6M
- Interest4¢$16.9M
- Income tax0¢$1.8M
- Profit9¢$41.9M
Out of $469.5M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending85¢$69.2M
- Kept or used elsewhere15¢$11.9M
Out of $81.1M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Other revenues | $10.1M | $5.2M |
| Total sales and operating revenues | $469.5M | $404.2M |
| Fuel | $63.9M | $49.3M |
| Other operating and maintenance costs | $129.2M | $118.4M |
| Cost of purchased power | $20.9M | $10.9M |
| Utilities | $16.8M | $15.9M |
| Labor | $110.7M | $116.2M |
| Depreciation, depletion and amortization | $41.2M | $65.6M |
| Asset retirement obligations accretion | $1.8M | $1.6M |
| Exploration costs | $216.0K | $260.0K |
| General and administrative | $26.2M | $26.5M |
| Gain on disposal or abandonment of assets, net | -$2.5M | -$50.0K |
| Asset impairment | $0 | $215.1M |
| Settlement of litigation | $2.8M | |
| Total operating expenses | $408.4M | $622.5M |
| INCOME FROM OPERATIONS | $61.1M | -$218.4M |
| Interest income | $602.0K | $235.0K |
| Interest expense | -$16.9M | -$13.8M |
| Loss on extinguishment of debt | -$608.0K | -$2.8M |
| Equity method investment (loss) | -$450.0K | -$746.0K |
| NET INCOME (LOSS) BEFORE INCOME TAXES | $43.7M | -$235.5M |
| Current | -$169.0K | |
| Deferred | $1.8M | -$9.2M |
| Total income tax expense (benefit) | $1.8M | -$9.4M |
| NET INCOME (LOSS) | $41.9M | -$226.1M |
| Basic (in dollar per share) | $0.98 | -$5.72 |
| Diluted (in dollar per share) | $0.96 | -$5.72 |
| Basic (in shares) | 42.9M shares | 39.5M shares |
| Diluted (in shares) | 43.4M shares | 39.5M shares |
| Interest on bank debt | $5.8M | $9.3M |
| Other interest | $9.1M | $2.8M |
| Amortization of debt issuance costs | $2.0M | $1.7M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $10.1M | $7.2M | |
| Restricted cash | $5.3M | $4.9M | |
| Accounts receivable | $14.0M | $15.4M | $19.9M |
| Inventory | $42.5M | $36.7M | |
| Parts and supplies | $45.9M | $39.1M | |
| Prepaid expenses | $5.6M | $1.5M | |
| Total current assets | $123.4M | $104.9M | |
| Land and mineral rights | $70.0M | $70.3M | |
| Buildings and equipment | $421.0M | $402.6M | |
| Mine development | $102.3M | $92.5M | |
| Construction work in process | $39.7M | $27.2M | |
| Finance lease right-of-use assets | $12.6M | $13.0M | |
| Total property, plant and equipment | $645.6M | $605.7M | |
| Less - accumulated depreciation, depletion and amortization | -$367.8M | -$348.0M | |
| Total property, plant and equipment, net | $277.8M | $257.7M | |
| Equity method investments | $2.6M | $2.6M | |
| Other assets | $4.2M | $4.0M | |
| Total assets | $408.1M | $369.1M | |
| Current portion of bank debt, net | $4.1M | ||
| Accounts payable and accrued liabilities | $41.8M | $44.3M | |
| Current portion of lease financing | $7.4M | $6.9M | |
| Contract liabilities - current | $103.3M | $97.6M | |
| Total current liabilities | $152.6M | $152.9M | |
| Bank debt, net | $29.7M | $37.4M | |
| Long-term lease financing | $1.3M | $8.7M | |
| Deferred income taxes | $1.8M | ||
| Asset retirement obligations | $15.2M | $15.0M | |
| Contract liabilities - long-term | $45.7M | $49.1M | |
| Other | $1.8M | $1.7M | |
| Total long-term liabilities | $95.6M | $111.9M | |
| Total liabilities | $248.2M | $264.8M | |
| Common stock, $.01 par value, 100,000 shares authorized; 43,817 and 42,621 issued and outstanding, as of December 31, 2025 and December 31, 2024, respectively | $438.0K | $426.0K | |
| Additional paid-in capital | $203.0M | $189.3M | |
| Retained deficit | -$43.6M | -$85.4M | |
| Total stockholders' equity | $159.8M | $104.3M | $268.6M |
| Total liabilities and stockholders' equity | $408.1M | $369.1M | |
| Preferred stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized | 100.0M shares | 100.0M shares | |
| Common stock, shares issued | 43.8M shares | 42.6M shares | |
| Common stock, shares outstanding | 43.8M shares | 42.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $10.1M | $7.2M | |
| Restricted cash | $5.3M | $4.9M | |
| Accounts receivable | $14.0M | $15.4M | $19.9M |
| Inventory | $42.5M | $36.7M | |
| Parts and supplies | $45.9M | $39.1M | |
| Prepaid expenses | $5.6M | $1.5M | |
| Total current assets | $123.4M | $104.9M | |
| Land and mineral rights | $70.0M | $70.3M | |
| Buildings and equipment | $421.0M | $402.6M | |
| Mine development | $102.3M | $92.5M | |
| Construction work in process | $39.7M | $27.2M | |
| Finance lease right-of-use assets | $12.6M | $13.0M | |
| Total property, plant and equipment | $645.6M | $605.7M | |
| Less - accumulated depreciation, depletion and amortization | -$367.8M | -$348.0M | |
| Total property, plant and equipment, net | $277.8M | $257.7M | |
| Equity method investments | $2.6M | $2.6M | |
| Other assets | $4.2M | $4.0M | |
| Total assets | $408.1M | $369.1M | |
| Current portion of bank debt, net | $4.1M | ||
| Accounts payable and accrued liabilities | $41.8M | $44.3M | |
| Current portion of lease financing | $7.4M | $6.9M | |
| Contract liabilities - current | $103.3M | $97.6M | |
| Total current liabilities | $152.6M | $152.9M | |
| Bank debt, net | $29.7M | $37.4M | |
| Long-term lease financing | $1.3M | $8.7M | |
| Deferred income taxes | $1.8M | ||
| Asset retirement obligations | $15.2M | $15.0M | |
| Contract liabilities - long-term | $45.7M | $49.1M | |
| Other | $1.8M | $1.7M | |
| Total long-term liabilities | $95.6M | $111.9M | |
| Total liabilities | $248.2M | $264.8M | |
| Common stock, $.01 par value, 100,000 shares authorized; 43,817 and 42,621 issued and outstanding, as of December 31, 2025 and December 31, 2024, respectively | $438.0K | $426.0K | |
| Additional paid-in capital | $203.0M | $189.3M | |
| Retained deficit | -$43.6M | -$85.4M | |
| Total stockholders' equity | $159.8M | $104.3M | $268.6M |
| Total liabilities and stockholders' equity | $408.1M | $369.1M | |
| Preferred stock, par value (in dollars per share) | $0.10 | $0.10 | |
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized | 100.0M shares | 100.0M shares | |
| Common stock, shares issued | 43.8M shares | 42.6M shares | |
| Common stock, shares outstanding | 43.8M shares | 42.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | $41.9M | -$226.1M |
| Deferred income tax (benefit) | $1.8M | -$9.2M |
| Equity method investment loss | $450.0K | $746.0K |
| Depreciation, depletion and amortization | $41.2M | $65.6M |
| Asset impairment | $0 | $215.1M |
| Loss on extinguishment of debt | $608.0K | $2.8M |
| (Gain) loss on disposal or abandonment of assets, net | -$2.5M | -$50.0K |
| Amortization of debt issuance costs | $2.0M | $1.7M |
| Asset retirement obligations accretion | $1.8M | $1.6M |
| Cash paid on asset retirement obligation reclamation | -$727.0K | -$1.4M |
| Stock-based compensation | $3.5M | $4.5M |
| Amortization of contract liabilities | -$99.7M | -$70.2M |
| Accretion on contract liabilities | $8.4M | $1.2M |
| Director fees paid in stock | $192.0K | $150.0K |
| Accounts receivable | $1.4M | $4.5M |
| Inventory | -$5.8M | -$13.6M |
| Parts and supplies | -$6.8M | -$227.0K |
| Prepaid expenses | $1.9M | $784.0K |
| Accounts payable and accrued liabilities | -$2.2M | -$14.6M |
| Contract liabilities | $93.6M | $102.0M |
| Other | -$56.0K | $643.0K |
| Net cash provided by operating activities | $81.1M | $65.9M |
| Capital expenditures | -$69.2M | -$53.4M |
| Proceeds from sale of equipment | $3.2M | $4.2M |
| Proceeds from held-for-sale assets | $3.2M | |
| Investment in equity method investments | -$490.0K | -$542.0K |
| Net cash used in investing activities | -$66.5M | -$46.5M |
| Payments on bank debt | -$106.0M | -$147.0M |
| Borrowings of bank debt | $92.0M | $99.5M |
| Payments on lease financing | -$7.0M | -$5.6M |
| Proceeds from sale and leaseback arrangement | $0 | $5.1M |
| Issuance of related party notes payable | $5.0M | |
| Payments on related party notes payable | -$5.0M | |
| Debt issuance costs | -$330.0K | -$673.0K |
| ATM offering | $13.5M | $34.5M |
| Taxes paid on vesting of RSUs | -$3.6M | -$277.0K |
| Net cash used in financing activities | -$11.4M | -$14.4M |
| Increase in cash, cash equivalents, and restricted cash | $3.2M | $5.0M |
| Cash paid for interest | $6.7M | $10.5M |
| Non-cash change in capital expenditures related to accounts payable and prepaid expenses | $7.2M | $356.0K |
| Stock issued on redemption of convertible notes and interest | $23.0M |
No quarter-by-quarter statement was filed.
Leadership
Who has led HALLADOR ENERGY CO, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerBrent K. Bilsland Feb 4, 2014 to now13
- Chief executive officerVictor P. Stabio Jul 10, 2007 to Dec 18, 201314
- ChairVictor P. Stabio Jan 30, 2014 to Jun 8, 201715
- ChairDavid C. Hardie Jul 26, 2006 to Dec 20, 201316
- PresidentHeath Aaron Lovell Sep 6, 2024 to now17
- PresidentBrent K. Bilsland Sep 17, 2009 to Sep 6, 202418
- PresidentVictor P. Stabio Jul 10, 2007 to Jul 7, 200914
- Chief financial officerTodd E. Telesz Jul 14, 2025 to now19
- Chief financial officerMarjorie Anne Hargrave Apr 19, 2024 to Jul 14, 202520
- Chief financial officerLawrence D. Martin Nov 27, 2012 to Apr 3, 202421
- Chief financial officerW. Anderson Bishop Sep 18, 2009 to Dec 18, 201522
- Chief financial officerVictor P. Stabio Jan 18, 2008 to Jan 18, 200823
- Chief operating officerHeath Aaron Lovell Apr 2, 2026 to now24
Board members and other officers (15)
- Chief Accounting OfficerDeman Eric Matthew Van Dec 22, 2025 to now25
- Board memberBarbara Ann Sugg Jan 20, 2026 to now26
- Board memberDaniel Timothy Hudson Mar 25, 2026 to now27
- Board memberZarrell Thomas Gray Aug 26, 2024 to now28
- Board memberLawrence D. Martin Dec 18, 2020 to Dec 18, 202029
- Board memberDavid J. Lubar Aug 14, 2018 to now30
- Board memberDavid C. Hardie Jul 15, 2011 to now31
- Board memberBrent K. Bilsland Sep 17, 2009 to now18
- Board memberJohn Van Heuvelen Sep 18, 2009 to Oct 4, 201632
- Board memberBryan H. Lawrence Oct 5, 2009 to Sep 21, 202233
- Board memberSheldon B. Lubar Aug 5, 2008 to Sep 17, 200934
- Board memberVictor P. Stabio Jul 10, 2007 to Dec 20, 201614
- Board memberCortlandt S. Dietler Nov 29, 2007 to Jul 21, 200835
- Board memberSteven Hardie Jul 26, 2006 to Jun 13, 202236
- General counselMatthew Bradford White Jun 17, 2026 to now37
Former names
- HALLADOR PETROLEUM COMay 12, 1995 to Dec 21, 20093
Timeline
Filings
258 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 62 major events, 97 insider forms, 27 large holders, 51 other. The latest 20:
- Oct 8, 20268-K EDGAR
- Sep 17, 20268-K EDGAR
- Aug 14, 20268-K EDGAR
- Aug 11, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 10, 20268-K EDGAR
- Jul 28, 2026SCHEDULE 13G EDGAR
- Jul 15, 20264 EDGAR
- Jul 10, 20264 EDGAR
- Jun 30, 20264 EDGAR
- Jun 26, 20268-K EDGAR
- Jun 25, 20264 EDGAR
- Jun 25, 20264 EDGAR
- Jun 17, 20263 EDGAR
- Jun 17, 20264 EDGAR
- Jun 11, 20268-K EDGAR
- Jun 5, 20268-K EDGAR
- Jun 3, 20268-K EDGAR
- Jun 2, 20268-K EDGAR
- Jun 1, 20264 EDGAR
The 258 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
61 open-market trades by officers, directors and large owners since October 2021: 22 buys and 39 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Sugg Barbara AnnDirector | Buy | 5,000 | $17.13 | $85.7K | Form 4 |
| Jul 9, 2026 | Hudson Daniel TimothyDirector | Buy | 5,000 | $16.59 | $82.9K | Form 4 |
| Jun 29, 2026 | Hudson Daniel TimothyDirector | Buy | 10,000 | $16.94 | $169.4K | Form 4 |
| Jun 25, 2026 | Hudson Daniel TimothyDirector | Buy | 2,000 | $17.70 | $35.4K | Form 4 |
| Jun 24, 2026 | Hudson Daniel TimothyDirector | Buy | 3,000 | $17.04 | $51.1K | Form 4 |
| Jun 16, 2026 | Wesley Charles Ray IVDirector | Buy | 15,000 | $16.69 | $250.3K | Form 4 |
| Dec 17, 2025 | Wesley Charles Ray IVDirector | Buy | 20,000 | $17.83 | $356.6K | Form 4 |
| Nov 21, 2025 | Wesley Charles Ray IVDirector | Buy | 13,000 | $19.28 | $250.6K | Form 4 |
| Oct 1, 2025 | HARDIE DAVID CDirector | Sale | 100,000 | $19.76 | $2.0M | Form 4 |
| Sep 30, 2025 | HARDIE DAVID CDirector | Sale | 100,000 | $19.53 | $2.0M | Form 4 |
| Sep 29, 2025 | HARDIE DAVID CDirector | Sale | 73,783 | $19.65 | $1.4M | Form 4 |
| Sep 26, 2025 | HARDIE DAVID CDirector | Sale | 77,868 | $19.18 | $1.5M | Form 4 |
| Sep 25, 2025 | HARDIE DAVID CDirector | Sale | 34,982 | $19.82 | $693.3K | Form 4 |
| Sep 23, 2025 | HARDIE DAVID CDirector | Sale | 8,770 | $19.08 | $167.3K | Form 4 |
| Sep 22, 2025 | HARDIE DAVID CDirector | Sale | 76,659 | $19.25 | $1.5M | Form 4 |
| Aug 19, 2025 | Wesley Charles Ray IVDirector | Buy | 20,000 | $15.27 | $305.4K | Form 4 |
| May 19, 2025 | HARDIE DAVID CDirector | Sale | 97,837 | $19.05 | $1.9M | Form 4 |
| Apr 10, 2025 | Gray Zarrell ThomasDirector | Buy | 9,000 | $13.60 | $122.4K | Form 4 |
| Apr 7, 2025 | Wesley Charles Ray IVDirector | Buy | 10,000 | $10.40 | $104.0K | Form 4 |
| Dec 10, 2024 | HARDIE DAVID CDirector | Sale | 16,282 | $13.10 | $213.3K | Form 4 |
All 61 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Mark D. BeckerSCHEDULE 13G/A, 2 filings Nov 6, 2025 to Aug 11, 202638
- BlackRockSCHEDULE 13G, 4 filings Oct 17, 2025 to Jul 28, 202639
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Jul 29, 2025 to Mar 26, 202640
- Hallador Alternative Assets Fund, LLCSCHEDULE 13D/A, 5 filings Jul 20, 2022 to Feb 27, 202641
- AEGIS FINANCIAL CORPSCHEDULE 13G/A, 4 filings Feb 10, 2023 to Nov 12, 202542
- ALJ Investment Company, LLCSCHEDULE 13G/A, 2 filings Jul 5, 2024 to Feb 14, 202543
- Lubar Equity Fund, LLCSC 13D/A, 4 filings Jun 22, 2022 to Sep 3, 202444
- Lubar & Co., IncSC 13D/A, 1 filing Feb 27, 202445
- Steven HardieSC 13D, 1 filing Jun 21, 202246
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Lubar & Co., Inc | 5,452,019 | $94.8M | 75.0% | No change |
| BlackRock, Inc. | 2,851,856 | $49.6M | 0.0% | +457,110 |
| Point72 Asset Management, L.P. | 2,121,228 | $36.9M | 0.1% | +219,974 |
| Aegis Financial Corp | 1,812,026 | $31.5M | 5.0% | −2,000 |
| Orbis Allan Gray Ltd | 1,695,845 | $29.5M | 0.1% | −63,966 |
| Vanguard Capital Management LLC | 1,531,550 | $26.6M | 0.0% | +45,721 |
| American Century Companies Inc | 1,518,138 | $26.4M | 0.0% | +135,011 |
| Dimensional Fund Advisors LP | 1,043,820 | $18.1M | 0.0% | +20,837 |
| Geode Capital Management, LLC | 980,431 | $17.1M | 0.0% | −10,309 |
| Highland Peak Capital, LLC | 947,219 | $16.5M | 4.8% | New |
| Dayah Capital LLC | 887,236 | $15.4M | 13.0% | +238,936 |
| State Street Corp | 780,330 | $13.6M | 0.0% | +71,032 |
| Deutsche Bank Ag\ | 778,244 | $13.5M | 0.0% | +67,248 |
| Morgan Stanley | 758,982 | $13.2M | 0.0% | +352,594 |
| Tyro Capital Management LLC | 735,471 | $12.8M | 2.9% | New |
| Garnet Equity Capital Holdings, Inc. | 633,895 | $11.0M | 4.9% | +201,421 |
| Fmr LLC | 616,268 | $10.7M | 0.0% | −27,850 |
| Vanguard Portfolio Management LLC | 485,567 | $8.4M | 0.0% | −286,619 |
| Goldman Sachs Group Inc | 478,277 | $8.3M | 0.0% | +124,508 |
| Susquehanna International Group, Llp | 417,786 | $7.3M | 0.0% | +125,473 |
| Bank of New York Mellon Corp | 404,653 | $7.0M | 0.0% | +6,020 |
| D. E. Shaw & Co., Inc. | 383,587 | $6.7M | 0.0% | +235,502 |
| Tudor Investment Corp Et Al | 370,838 | $6.4M | 0.0% | New |
| CenterBook Partners LP | 340,622 | $5.9M | 0.3% | −82,338 |
| Charles Schwab Investment Management Inc | 335,693 | $5.8M | 0.0% | −73,798 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARVictor P. Stabio, Chair
- 16SEC EDGARDavid C. Hardie, Chair
- 17SEC EDGARHeath Aaron Lovell, President
- 18SEC EDGARBrent K. Bilsland, President
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- 26SEC EDGARBarbara Ann Sugg, Board member
- 27SEC EDGARDaniel Timothy Hudson, Board member
- 28SEC EDGARZarrell Thomas Gray, Board member
- 29SEC EDGARLawrence D. Martin, Board member
- 30SEC EDGARDavid J. Lubar, Board member
- 31SEC EDGARDavid C. Hardie, Board member
- 32SEC EDGARJohn Van Heuvelen, Board member
- 33SEC EDGARBryan H. Lawrence, Board member
- 34SEC EDGARSheldon B. Lubar, Board member
- 35SEC EDGARCortlandt S. Dietler, Board member
- 36SEC EDGARSteven Hardie, Board member
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