ConocoPhillips Co. on Sept. 8 said that Eric Mullins, cofounder of Lime Rock Resources LP, had been elected by its board of directors to serve as a board member of the Houston-based independent E&P company.
Mullins has spent his career in finance, most recently founding Lime Rock Resources alongside partner Charlie Adcock in 2005, a private equity fund focused on acquiring and developing low-risk oil and gas properties. He currently serves as co-CEO of Lime Rock.
He will serve on the public policy committee of the ConocoPhillips board.
In a statement welcoming Mullins to the company’s board, ConocoPhillips CEO Ryan Lance said: “His perspective and expertise in finance and energy markets will align strongly with our company’s value proposition and our commitments to shareholders.”
Lime Rock Executive Q&A: A Time To Pause, A Time To Buy
featured in the January 2020 issue of Oil and Gas Investor.
Prior to starting Lime Rock Resources, Mullins served as managing director at Goldman Sachs from 1999 to 2004, vice president from 1994 to 1999 and associate from 1990 to 1994.
He currently serves on the board of Valero Energy Co. He is also on the board of trustees of the Baylor College of Medicine.
Laredo Petroleum remains “focused on executing similar, reasonably-priced bolt-on acquisitions around our core position in Howard County,” CEO Jason Pigott says.
Cracks have begun to show in the traditional performance metrics for executive compensation in the oil and gas industry, and there’s a growing push to reconsider them in the new environment.
Martin Midstream’s founder, Ruben Martin, will retire as president and CEO on Dec. 31, but remain as board chairman and will continue to be actively involved in its business development.