Seadrill Limited announced on June 6 the appointment of Stuart Jackson as the company’s new Chief Financial Officer, effective upon release from his current employment which is expected by the beginning of August.
Stuart is an experienced finance executive with 20 years of experience in CFO roles at LSE, NASDAQ, OSE and AIM listed companies, including offshore and oil field services experience having served as CFO for Bibby Offshore, CEONA Pte and Acergy SA.
"Stuart has a breadth of experience, deep industry expertise and a strong track record of creating shareholder value through capital market transactions, mergers & acquisitions and driving efficiency,” said Seadrill CEO Anton Dibowitz. “His addition to the team will greatly support the achievement of our strategic plans and we look forward to welcoming Stuart onboard"
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
EMGS has appointed interim CEO Bjorn Petter Lindhom as permanent CEO of the company on May 31.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.