MFG Chemical, a global leader in specialty and custom chemical manufacturing, has promoted Tim Haggerty to vice president of oil and gas, the company said on March 19.
In addition to driving top line sales growth, Tim will be shaping MFG Chemical’s Oil and Gas SBU strategy, optimizing the product portfolio and developing a robust pipeline. Tim will work out of MFG Chemical’s new sales office in Houston.
Tim is an industry expert with 34 years of experience in business development with both upstream and downstream oil and gas specialty chemicals, working for such leading companies as Nalco Chemical, Shell Chemical, Halliburton, and Shrieve Chemical before joining MFG Chemical in 2017.
Tim earned a bachelor of science in petroleum engineering from Mississippi State University, and is a longtime Member of the Society of Petroleum Engineers (SPE) and the American Association of Drilling Engineers.
“No market is more important to MFG Chemical than oil and gas. That’s why we have promoted Tim, completed a multimillion dollar upgrading of our Pasadena, Texas plant, are opening a new sales office in Houston and assigning additional staff to better serve MFG’s Oil and Gas SBU. MFG Chemical is fully committed to the oil and gas market under the leadership and expertise of Tim Haggerty,” Paul Turgeon, MFG Chemical president and CEO, said.
Chaparral Energy has hired financial advisers for advice on how to improve its balance sheet, sources said, adding that no debt restructuring move is imminent.
Analysts said the most core projects will move forward, while shorter-cycle developments will see the most dramatic investment cuts.
Oil and gas producer Cairn Energy on March 27 reduced investment plans by about a fifth, following the fall of oil prices to less than $30 per barrel.