Apache Corp. (NYSE: APA) said April 23 that Kregg Olson, executive vice president of corporate reservoir engineering, plans to retire later this year.
Olson, who joined the Houston-based company in 1992, has held his current title since 2009 after being promoted to senior vice president in 2007 and Vice President in 2004. Prior to that, he served as director of technical service for Apache from 1995 through 2003.
Dave Pursell, currently senior vice president of planning and market fundamentals, will take over the corporate reservoir engineering department upon Olson’s retirement, which takes effect Aug. 1.
John J. Christmann IV, Apache's CEO and president, said in a statement: "Kregg’s expertise and leadership have been a tremendous asset to Apache during his 26 years with the company. On behalf of the board and all Apache employees, I want to thank Kregg for his many contributions and wish him all the best in retirement."
Pursell recently joined Apache in early 2018 from Tudor, Pickering, Holt & Co. (TPH), where he served as managing director of investment banking. Before that, he served as head of macro research and was one of the founders of Pickering Energy Partners Inc. Before TPH, he was director of upstream research at Simmons & Co. International.
Earlier in his career, Pursell worked in various production and reservoir engineering assignments at S.A. Holditch and Associates, which is now part of Schlumberger Ltd. (NYSE: SLB). He began his career at ARCO Alaska in Anchorage with production and operations engineering assignments in South Alaska and the North Slope. He holds a Bachelor of Science and Master of Science in petroleum engineering from Texas A&M University.
Recommended Reading
The One Where EOG’s Stock Tanked
2024-02-23 - A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.