Drew Ward, partner and chief commercial officer at Houston-based Pinnacle Midstream II LLC, is today’s featured Forty Under 40 honoree.
Trust, Ward says, is a significant aspect of what drove the Pinnacle I team, after the company was successfully monetized to Eagleclaw Midstream in 2018, to stick together and found Pinnacle II. He notes that “it’s very rare for a team to stay together after a monetization … [and that] his team had the trust in each other to continue to execute” as a new company.
His valuation of trust shows in Pinnacle II’s prioritization of safety at all levels of business and operation. As Ward insists, he and his team share a mentality of “people first, then everything else.” People’s “lives and livelihoods” depend on the decisions that executives make in a boardroom, and that means “safety and quality and work product can never be a second thought.”
Ward’s path to leadership at Pinnacle began with rough-necking offshore for Nabors Industries Ltd. and eventually high-responsibility roles with Kinder Morgan Inc.
He said that “all of us at Pinnacle II have worked in the field at some point … I worked on offshore rigs every summer in college and as a field level pumper during the school year, and these experiences help me relate to the complexities of what’s going on in a deal all the way from the field level to the boardroom.”
Chevron, BP, Equinor and Murphy Oil all evacuated some offshore workers from production platforms in the Gulf of Mexico, the companies reported. Shell also curtailed production at ceftain platforms.
Shell shut its Appomattox oil platform about 80 miles off the coast of Louisiana, joining BP, Chevron and Equinor in closing facilities in the U.S. Gulf of Mexico less than one month after Hurricane Laura.
Five OPEC+ sources said a virtual meeting on Sept. 17, known as the joint ministerial monitoring committee, was also unlikely to recommend changing oil output targets despite Brent prices falling.