Joe J. Colletti, business development manager for acquisitions and divestitures at ExxonMobil Upstream Business Development Co., is today’s featured Forty Under 40 honoree.
Despite, today, overseeing business development opportunities in the U.S. for Exxon Mobil—one of the world’s largest public oil and gas companies, Colletti began his career as a nuclear systems engineer.
In 2013, he transitioned from his six-year engineering tenure with Exxon Mobil Corp. to become the operations manager for the private E&P Zarvona Energy LLC.
After three years at Zarvona, Colletti was promoted to vice president of business and project development, where he helped grow Zarvona into one of the most notable private operators in the U.S.
Colletti said the small company environment taught him to be resourceful and “to understand the importance of every aspect of the industry.”
Oilfield services companies will need to preserve capital and ride out the storm before they can expect to see an uptick in activity.
Devon Energy had been actively shopping the Permian Basin assets, and others in the Rockies, the past several months.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.