Enerplus Corp. is adding Wade Hutchings, previously with Devon Energy Inc., to its executive leadership team as its new COO, the Calgary, Alberta-based independent said Jan. 16.
In a statement, Ian C. Dundas, president and CEO of Enerplus, described Hutchings as a seasoned leader with an impressive track record of accomplishments across the upstream value chain.
Most recently, Hutchings had been with Devon Energy as the Oklahoma City-based company’s senior vice president of exploration and production from 2017 to 2019. Prior to that, he spent 17 years at Marathon Oil Co. in various roles.
“[Hutchings] will provide strong continuity for delivering our disciplined, returns-focused value proposition to all stakeholders,” Dundas added.
Hutchings’ appointment, effective Feb. 11, is in conjunction with the retirement of Ray Daniels, who has had a decades-long career in the energy industry including 12 years at Enerplus. He had started his career in technical roles with Chevron Corp. before holding a number of management positions with ConocoPhillips Co.
Daniels had served as senior vice president of operations, people and culture at Enerplus since 2011. He will remain in his current position until he formally retires in April.
In a statement wishing Daniels the best in retirement, Dundas noted he had been instrumental in advancing a culture of accountability.
“Ray played a valuable role in establishing our strong operational track record and in the successful execution of our business strategy,” he said.
Today, Enerplus’ portfolio includes light oil assets in the Williston Basin across North Dakota and Montana, a position in the Marcellus natural gas shale play in northeast Pennsylvania as well as a group of oil assets under secondary and tertiary recovery in western Canada. The company also has a position in the northern extension of the Wattenberg Field in Colorado’s Denver-Julesburg Basin.
For 2019, Enerplus planned to deliver 9%-10% annual liquids production growth and 15% on a per share basis while maintaining a low financial leverage, according to a November news release.
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