D. Martin Phillips, a managing partner of EnCap Investments, resigned from the Devon Energy board of directors on March 5, effective immediately.
The company’s predecessor, private equity-backed Riley Permian, was formed with the goal of building a premier Permian Basin pure-play.
Chevron said it had reached the buyout agreement with Noble Midstream on March 5, roughly a month after announcing a slightly smaller offer to buy out the pipeline operator.
Kimmeridge Energy began its push for changes at Ovintiv in November last year, flagging concerns about the U.S. shale producer’s executive compensation and lack of board refreshment.
As part of the management changes, Steve Phimister, head of Shell’s oil and gas operation in the North Sea since 2017, will be replaced.
Greg Beard, who previously headed Apollo’s global natural resources group for nearly a decade, will file for an IPO for a SPAC in the coming weeks, one of the sources said.
Chevron also signed a letter of intent for a potential pilot project in California to deploy heat power, which is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat.
Climate activists plan more green resolutions and ESG initiatives at annual shareholder meetings for oil and gas groups after ‘corporate-friendly’ Trump years.
Exxon Mobil, which has faced fresh pressure from investors since late last year, also appointed Comcast executive Michael Angelakis to its board on March 1.