Brent Kelsall, director of finance and planning at FourPoint Energy LLC, is today’s featured Forty Under 40 honoree.
As one of the initial employees at FourPoint Energy, Kelsall helped set the company’s financial course. He’s part of a team that capitalized FourPoint and LongPoint Minerals over the past five years, despite industry challenges.
He had joined FourPoint after working in the strategic planning and corporate development group for Newmont Mining, the world’s leading gold mining company.
Coming from the gold mining sector, Kelsall was no stranger to volatile commodity prices, but he still struggled when the energy downturn hit in 2015.
“Raising capital from investors in this environment was incredibly challenging,” Kelsall said. Nevertheless, FourPoint persevered, and the company closed a transaction in early 2016 to acquire Western Anadarko Basin assets from Chesapeake Energy Corp.
The Lundin Petroleum board also proposed to change the company's name to Lundin Energy AB, it said in a statement.
The increase in oil and gas bankruptcies seems likely to continue, said Buddy Clark, partner at Haynes and Boone.
Shares of Encana will be suspended from trading on the New York and Toronto stock exchanges on Jan. 27 at which time the company will begin trading as Ovintiv under the “OVV” symbol.