Delaware Basin operator Rosehill Resources Inc. (NASDAQ: ROSE) on March 11 named David L. French to serve as the Houston-based company’s next president and CEO.
French will join Rosehill in April from Canadian oil and gas producer Obsidian Energy Ltd., where he has served as its CEO since 2016. At such time, he will succeed industry veteran Gary C. Hanna, who has served as interim president and CEO of Rosehill since September 2018. Hanna will retain his position as chairman.
Rosehill’s previous CEO, Alan Townsend, elected to retire last year after more than 45 years working in the oil and gas industry including 16 years with Rosehill and its predecessor Tema Oil and Gas Co. During his tenure as Rosehill CEO, Townsend helped oversee the company’s transformation into a public pure-play Delaware Basin E&P thanks to a “prepackaged IPO” with a public blank-check company led by Hanna.
Hanna said in a statement on March 11: “David brings a wealth of experience and is a proven oil and gas leader with broad technical and exceptional commercial experience across multiple basins, including the Permian Basin. We are confident that David will lead our teams in building on the positive results we have generated and momentum we have created since Rosehill’s formation.”
French has more than 29 years of experience in the energy industry, according to the Rosehill press release. Prior to Obsidian, he led Bankers Petroleum Ltd. as its CEO between 2013 and 2016. He also held various managerial and operational positions at Apache Corp., McKinsey & Co., Altura Energy Ltd. and Amoco Corp.
French’s appointment comes after the conclusion of a comprehensive executive search, led by Preng & Associates, the company said in the release. He will also join Rosehill’s board as a director.
Rosehill currently operates roughly 11,500 net acres with about 480 locations in two core areas in the Delaware Basin within the prolific Permian Basin. The company’s production exceeded 20,000 barrels of oil equivalent per day entering into the fourth quarter, according to a recent company presentation.
Occidental Petroleum launched a $57 billion takeover bid for Anadarko Petroleum on April 24, trumping Chevron’s offer for The Woodlands, Texas-based independent announced earlier this month.
Pioneer confirmed today the sale of its remaining Eagle Ford Shale assets to a Warburg Pincus-backed company, finalizing its status as a Permian Basin pure-play company.
The career oil and gas man has put his money on U.S. natural gas via Comstock Resources Inc. and the Haynesville Shale.