NOV Announces Retirements, Reorganization of Operational Segments

NOV inc. stated it will be consolidating its reporting structure to drive operational and financial efficiencies into two segments: energy equipment and energy products and services.

The Aftermath of Oil and Gas M&A: Integration with Less Mess

The current wave of oil and gas consolidation exposes the supply chain and operational inefficiencies that stand in the way of achieving maximum ROI in both the short and long term. 

McDermott International Restructures, Gets Capital Infusion

McDermott International Ltd. reached an agreement with 75% of its lenders and equity holders and received $250 million in new capital that will allow it to operate and complete existing projects.

Cost-Cutting Essential Energy Services Deletes Controller Position

Essential Energy Services CFO Jeff Newman was named senior vice president, with Laura Ingram, controller, taking over the CFO position.

Civitas Resources Appoints Hodge Walker as COO

Walker most recently served as vice president of Chevron Corp.’s Rockies Business Unit, a position he held since October 2020, following Chevron’s $13 billion acquisition of Noble Energy Inc.

Battalion Oil Names Steele New CEO

Matt Steele was most recently the CEO of Bruin E&P Partners, a Bakken-focused E&P. During the past decade, he also served as CEO of Ursa Resources and Bruin E&P.

Permian, East Texas E&P Legacy Reserves Rebrands as Revenir Energy

Revenir operates and develops oil and gas assets in the Permian Basin of West Texas and Shelby County region of East Texas.

California Resources to Separate E&P, Carbon Businesses Under New CEO

California Resources sees the separation of its E&P and carbon management businesses as a way to strengthen shareholder returns under Francisco Leon, who will become president and CEO in April. 

Brazil's Petrobras Taps Joelson Falcao to Head E&P Amid Management Overhaul

Along with Joelson Falcao as head of E&P, Petrobras CEO Jean Paul Prates has also appointed William Franca as head of refining and natural gas and Claudio Schlosser as head of commercial and logistics.

Capricorn Energy CFO Smith to Stay on Temporarily After Board Exit

Last week, Smith had resigned from Capricorn Energy amidst plans for a merger with NewMed.