On the Move (Week of Dec. 20, 2021)

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Editor's note: This "On the Move" section appears in the new E&P newsletter. This weekly section highlights new hires, appointments, retirements and promotions as well as company news such as new office locations and major M&A deals. 

PEOPLE

Williams has appointed John D. Porter senior vice president and CFO. Read more here.

Northern Oil and Gas Inc. has named Adam Dirlam president. He will retain his current role as COO in addition to this promotion. Read more here.

Chevron Corp. has appointed Jim Gable vice president of innovation and president of Chevron Technology Ventures. Gable is currently vice president of downstream technology and services and will replace Barbara J. Burger when she retires Feb. 1. Read more here.

Quorum has appointed Marc Cannon executive vice president of global professional services. The role focuses on developing business models for innovative solutions and leading professional services.

The Beachwood Helix has appointed Carol Gonzalez senior reservoir engineer.

Sidley Austin LLP has named Josh Sutton a counsel, where he will focus on international and domestic business transactions. Read more here.

Our Nation’s Energy Future has appointed Jim Kibler executive director of the board. Kibler serves as CEO and managing member of Next Paradigm Advisors LLC and will replace Richard Hyde.

COMPANIES

TSC Subsea will open new facilities in Perth, Australia, in first-quarter 2022 to support company growth in key regions around the world. 2021 marked the company’s first full year of operations following the integration of TSC Subsea’s U.K. business with Halfwave in August 2020. The company is also entering the renewables sector after winning a contract with a European offshore wind operator and completing a qualification process for offshore wind infrastructure.

Continental Resources Inc. and the Harold Hamm Foundation will create the Hamm Institute for American Energy at Oklahoma State University. The institute is intended to be a forum for global energy discussions that also offer a laboratory featuring wells drilled below the building, an auditorium and classrooms. The two companies have pledged a combined $50 million to fund the institute. Read more here.

Independence Energy LLC has merged with Contango Oil & Gas Co. to create Crescent Energy Co. The company had production of approximately 119,000 boe/d on a pro forma basis in second-quarter 2021 from a diverse set of attractive assets across the Lower 48 states, providing a stable platform from which to grow the business. Read more here.

Earthstone Energy Inc. will acquire Permian Basin operator Chisholm Energy Holdings LLC in a cash-and-stock transaction worth more than $600 million. The acquisition will expand Earthstone’s Permian footprint into the Delaware Basin. The company expects the deal will increase its net production and adjusted EBITDAX and roughly double free cash flow in 2022 versus Earthstone standalone. Read more here.

Shell New Energies US LLC, a subsidiary of Royal Dutch Shell Plc, has acquired Savion LLC from Macquarie’s Green Investment Group. Savion specializes in developing solar power and energy storage projects for a variety of customers, including utilities and major commercial and industrial organizations in the U.S. The acquisition is expected to expand Shell’s existing solar and energy storage portfolio as well as propel forward its net-zero ambitions. Read more here.

Green Boom, a U.S.-based oil spill cleanup company, expanded into Europe through three partnerships. The company partnered with Germany-based Din Certco, Poland-based JP Consulting and Italy-based A.NI.MA2 to promote its line of ecofriendly oil absorbents suitable for large spill response, industrial and transportation MRO and safety spill kits. The three companies now offer Green Boom’s “green” absorbents including booms, socks, pillows and loose absorbent.

EnCap Investments LP has merged two of its portfolio companies in the Delaware portion of the Permian Basin, Advance Energy Partners and Ameredev II LLC. The merger created an oil producer worth more than $4 billion, and the output is expected to exceed 5 MMbbl/d in January. EnCap is looking to take the private equity firm public as soon as 2022. Read more here.