Alliance Resource Partners LP said Jan. 6 Kirk Tholen, former head of A&D at Houlihan Lokey, had joined the company’s executive team, confirming an earlier report that he had left his role at the boutique advisory firm for a job at an Oklahoma-based energy company.

Tholen had joined Houlihan Lokey in 2015 after previously serving as head of A&D in the Americas for Credit Agricole CIB. His move to Alliance Resource Partners, however, comes at a time when A&D activity in the oil and gas industry has been crippled by shareholder demands for companies to prioritize cost-cutting and developing existing properties, rather than buying new assets.

At Alliance Resource Partners, Tholen will assist in the development of the company’s strategic initiatives reporting to CEO Joseph W. Craft III as senior vice president and chief strategic officer. He will also serve as president of the company’s oil and gas minerals segment.

Based in Tulsa, Okla., Alliance is the second-largest coal producer in the eastern U.S. The company also began pursuing opportunities outside coal in late 2014, including a portfolio of oil and gas minerals, which the company added to last year through the multimillion-dollar acquisition of private-equity backed Wing Resources LLC.

In his new role, Tholen will be responsible for expanding the minerals portfolio of Alliance Resource Partners alongside coal and other investible opportunities.

“Alliance represents and is known for its capital discipline, investment ingenuity and deliberate growth,” he said in a statement. “This has been consistent for over 20 years and the growing minerals platform is a perfect example of a continuation of these core principles.”

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“Meet Kirk Tholen” featured in the July 2016 issue of Oil and Gas Investor

Tholen’s background also includes working for sell-side E&P boutique advisory firm Albrecht & Associates Inc. and as an engineer for about a decade at BJ Services. He had began his career in 1992 joining UNOCAL’s Louisiana inland waters and shallow shelf operation and reservoir engineering team.