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 firstname.lastname@example.org. Subscribe to the E&P newsletter here.
After 42 years with the company, eight of which were as CEO, William R. “Bill” Thomas has announced his intention to retire from EOG Resources Inc. As part of his succession plan, Ezra Y. Yacob will become CEO. Additionally, EOG COO Lloyd W. “Billy” Helms Jr. will be appointed to the additional role of president.
The supervisory board of OMV Aktiengesellschaft appointed Alfred Stern as the new chairman of the executive board and CEO of OMV, the company announced.
Danos has expanded its business development team with two internal moves and one new hire. Rene Vidrine has been promoted to executive account manager. Bounty Fontenot has moved to sales and business development representative, and Chase Clement joins the team as a sales and business development representative.
Dorothy Thompson CBE, nonexecutive chair, has decided to step down from Tullow Oil Plc’s board. A search process to find a new chair has been launched and is expected to conclude toward the end of the summer. Thompson will remain chair of Tullow until the new chair is appointed and an appropriate handover has taken place.
Ecuador’s newly installed President Guillermo Lasso named a former executive of state oil company Petroamazonas as the South American country’s new energy minister, according to a Reuters report. Lasso tasked Juan Carlos Bermeo, a civil engineer who also served as a vice minister of hydrocarbons under former President Lenin Moreno, with doubling crude output and combating corruption in the oil sector.
Flotek Industries Inc. has welcomed Lisa Mayr to its board of directors. Mayr was appointed a member of the audit committee. She will also serve as a member of the corporate governance and nominating committee.
Former Shell Oil U.S. President John Hofmeister, who led the oil firm’s U.S. efforts to help restore investor confidence after an accounting scandal nearly two decades ago and later set up an energy advocacy group, has died. He passed away on May 24 after a short illness, his family said late June 6, according to Reuters report.
TGS-NOPEC Geophysical Co. ASA will begin operating under the new name of TGS ASA. "TGS ASA reflects both the evolution of the company as well as its vision for the future," the company said.
Bonanza Creek Energy Inc. agreed on June 7 to acquire privately held Crestone Peak Resources LLC in an all-stock merger transaction, tacking on another acquisition in the Denver-Julesburg (D-J) Basin. The acquisition—Bonanza Creek’s third so far this year—represents the company’s strategy to position itself as the modern-day E&P business model, according to President and CEO Eric Greager. The initiative is tied to the formation of Civitas Resources Inc., which will be formed upon closing of its merger with Extraction Oil & Gas Inc. only announced last month.
Colgate Energy Partners III LLC has entered into a definitive agreement under which Colgate will acquire a majority of the assets owned by Luxe Energy LLC in an all-stock transaction.
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.
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.