[Editor's note: This story originally appeared in the February 2020 edition of E&P. Subscribe to the magazine here.]
William Berry has been named CEO of Continental Resources, replacing Harold Hamm, who will assume the role of executive chairman. Jack Stark has been appointed COO. In addition, Tim Taylor has been elected to the board as a class II director.
Tullow Oil CEO Paul McDade and exploration director Angus McCoss have resigned from their positions. Dorothy Thompson has been named executive chair on a temporary basis, and Mark MacFarlane has been appointed COO.
Keith L. Schilling has been appointed CEO, president and director of Basic Energy Services.
David Dehaemers, CEO of Tallgrass Energy, has stepped down from his position and has been succeeded by Bill Moler. In addition, Matthew P. Sheehy has been named president of the company.
Flotek has appointed John W. Gibson, Jr. CEO, president and chairman of the board. David Nierenberg, who has been Flotek’s chairman of the board since May 2019, will remain independent director of the company’s board. John Chisholm, former CEO, has stepped down from the board and left the company.
Charles Duginski has been appointed president, CEO and a member of the board of Chaparral Energy. He succeeds K. Earl Reynolds, who has resigned to pursue other interests. In addition, Michael Kuharski and Mark McFarland have joined the board of directors, and Matthew Cabell has stepped down from the board.
Providence Resources has appointed Alan Linn CEO and executive director of the board.
Odd Strømsnes has been appointed CEO of Ocean Installer. Former Interim CEO Kevin Murphy will continue as deputy CEO.
Blackbuck Resources has welcomed Barry Portman as COO and Jamie Liang as CFO.
Petter Hjertstedt has been named acting CFO of Tethys Oil. He will replace William Holland, who has stepped down from his position for personal reasons but will remain available to the company until July 8.
Flowserve Corp. has appointed Amy B. Schwetz senior vice president and CFO.
Valeura Energy Inc. has appointed Heather Campbell CFO and Tim Chapman an independent director.
Simon Ayat, executive vice president and CFO of Schlumberger, has stepped down from his position but will continue to serve as senior strategic adviser to the company’s CEO for two years. Ayat has been succeeded by Stephane Biguet as the company’s executive vice president and CFO.
David Khani has been appointed CFO of EQT Corp.
Neodrill has welcomed Tor Odegard as business development manager for Southeast Asia.
BCCK Holding Co. has appointed Greg Herman director of business development.
PJ Valves has appointed Kenneth Kmiec territory leader for the Americas to support the company’s ongoing growth in the region.
Keith Gee has been named general counsel of Airswift to further strengthen its management team.
Andrew Gould, former chairman and CEO of Schlumberger, has been elected to the board of directors of Occidental Petroleum Corp., effective March 1.
Exxon Mobil Corp. has elected Joseph L. Hooley to its board of directors.
Steven Schlotterbeck has been named chairman of the board of directors at Reveal Energy Services.
Michael Jennings has resigned as chairman of the board of Montage Resources Corp. to focus his efforts on his recent appointment as CEO and president of HollyFrontier Corp. He is succeeded by Randall M. Albert, who will also serve on the company’s audit committee and compensation committee.
Subsea UK has appointed Dorothy Burke, Suzy Davies, Michael Jones, Barry Macleod, Tom Moore and Jonathan Tame board members. Existing board members who were re-elected are Zander Bruce, Bill Morrice and Tim Sheehan.
Itaoca Offshore and Peterson Offshore Group have announced a partnership and consulting agreement for the development of the Itaoca Offshore project, which will be a private terminal located in southeast Brazil, designed to provide logistical support to the supply chain for the E&P of offshore oil and gas.
Jones Energy II Inc. has merged with Revolution II WI Holding Co. LLC, an affiliate of Mountain Capital Partners LP, for $201.5 million cash. Jones is now a wholly owned subsidiary of Revolution.
Tenaris has closed on a $1.1 billion deal to buy Houston-based IPSCO Tubulars.
Shaleem Petroleum Co. has acquired the oilfield drilling business of Weatherford Drilling International Holdings.
Gravity has acquired On Point Oilfield Holdings LLC, creating the largest commercial produced water disposal company by injection volumes in the Midland Basin.
WPX Energy Inc. has agreed to acquire private-equity-backed Felix Energy II with a position in the Permian’s Delaware Basin in a cash and stock transaction valued at $2.5 billion. The transaction is expected to close in the early second quarter of 2020.
Coretrax has acquired Churchill Drilling Tools.
US Ecology Inc. has merged with NRC Group Holdings Corp., which includes three subsidiaries: NRC, a commercial oil spill removal organization; Sprint Energy, a provider of waste disposal solutions; and Specialized Response Solutions, which handles highly hazardous substances and manages volatile incidents such as well and pipeline incidents. The newly combined company will retain the US Ecology name.
Trelleborg Sealing Solutions has acquired Tritec Seal, which produces engineered polytetrafluoroethylene sealing solutions.
Survey results said 66% of 154 oil and gas firm executives contacted by the Dallas Fed this month believe U.S. crude oil production has peaked. The survey includes executives from Texas, Louisiana and New Mexico.
With limited exit and financing alternatives, oil and gas companies must take steps to address G&A and overhead costs to ensure the financial health of their organizations and their stakeholders.
Brent Jasper, president of Jasper Ventures, recently joined Hart Energy’s Jessica Morales to discuss how his family-owned business has weathered multiple oil and gas downturns while still serving the midstream business for nearly 30 years.