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. Submit your company news to Ariana Hurtado at email@example.com. Subscribe to the E&P newsletter here.
Ovintiv Inc. CEO Doug Suttles said he will retire by August. As part of a comprehensive succession planning process, the Ovintiv board has named Brendan McCracken president and CEO, effective Aug. 1.
McDermott International Ltd. CEO David Dickson decided to resign.
Ranger Energy Services Inc. has announced Darron Anderson is leaving the company for an undisclosed new opportunity. In the interim, the board of directors of Ranger, an independent provider of well service rigs and associated services, appointed Board Chairman Bill Austin CEO. The company said the board has engaged an executive search firm to assist with the recruitment of a new permanent CEO to replace Anderson.
McDermott International Ltd. has appointed Samik Mukherjee executive vice president and COO.
California Resources Corp. has tapped Chris Gould to lead its ESG push as its first-ever chief sustainability officer.
Three top executives at Chesapeake Energy Corp. are out, according to a regulatory filing on June 11. Chesapeake Energy's Frank Patterson, executive vice president of E&P, James Webb, general counsel, and William Buergler, senior vice president, all agreed to leave the company, according to a filing with the U.S. Securities and Exchange Commission. The departure of the three executives from the leadership team at the E&P company follows the exit of its CEO Doug Lawler in April and the conclusion of Chesapeake’s bankruptcy reorganization earlier this year. In the filing, Chesapeake said its board of directors treated the departures of Patterson, Webb and Buergler as termination without cause, which included severance payments.
Comstock Resources Inc. has promoted Brian Claunch to vice president of financial reporting.
Ricardo Fabiani Garcia, a key OriginClear investor and a veteran technologist, has been named to OriginClear Inc.'s board of advisers.
Enverus has announced the completion of its acquisition by Hellman & Friedman. The transaction values Enverus at $4.25 billion, including the assumption of debt. Genstar Capital, which had been Enverus’ majority owner since 2018, will continue to hold a significant minority stake in the company.
bp Plc is planning to spin off its operations in Iraq into a standalone company, the Wall Street Journal reported on June 11, as the oil major looks to shift focus to low-carbon investments. The new company would hold bp's interest in Iraq’s giant Rumaila oil field and be jointly owned by China National Petroleum Corp., one of bp's partners at the site.
Independence Energy LLC and Contango Oil & Gas Co. have agreed to combine in an all-stock transaction set to create a consolidation machine for the upstream oil and gas industry.
SPOC Automation has launched a new company, SPOC Grid Inverter Technologies, which aims to provide new energy alternative configuration choices. To lead this venture for SPOC, Andrew Williams has joined the team as managing director.
AFG Holdings Inc. has acquired Maass Flange Corp., the North American assets of Maass Global Group, including its businesses in Mexico and Canada. Maass Flange Corp. is the largest domestic manufacturing supplier of stainless and nickel alloy flanges in North America.
Nucore Group has completed a restructure and refinancing deal. The specialist engineering company, which provides safety products and services for hazardous environments, will be investing in people, R&D, systems and its rental fleet to support its growth and diversification into new sectors and geographical markets. Having created 17 new jobs in recent months, including apprenticeships and graduate roles, Nucore Group will continue to hire as it opens a new office in Dundee and targets opportunities in the renewables sector and in Australia and Africa. "The restructure is the culmination of an integration and rebranding program to position Nucore Group as a leader in engineering solutions for hazardous environments in the energy industry globally," the company said in a release.
Ørsted has completed the acquisition of a 100% equity interest in Brookfield Renewable’s onshore wind business in Ireland and the U.K., Brookfield Renewable Ireland (BRI). BRI is a developer, owner and operator of onshore wind farms headquartered in Cork, Ireland.
Crown LNG Holding AS has initiated development of an LNG terminal offshore Kakinada, India. Since its inception, the company has focused on development of a technical solution that can operate in more severe weather conditions than floating solutions. Crown LNG India AS, a subsidiary of Crown LNG Holding AS, has signed an agreement with East LNG to finance, build and lease the infrastructure for their offshore LNG receiving terminal at Kakinada. Crown has also been contracted for operations and management of the facility through the 25-year lease period. Crown LNG has initiated development of the Kakinada project.
Kaiser’s Argonaut Private Equity acquired Pioneer Well Services, an oilfield services arm of Pioneer Natural Resources—one of the largest U.S. shale producers, for an undisclosed amount.
Schlumberger has spent billions of dollars to take over managing customers' oil fields, in some cases becoming an investor in the fields, while seeking to profit from increased oil production.
Wood Plc’s 2018 profit topped market expectations as the British oil field and engineering services provider trumpeted the success of its 2017 takeover of smaller rival Amec Foster Wheeler and increased revenue synergies from the deal.