Oasis rests CEO duties on board chair following Nusz retirement

Oasis Petroleum Inc. has assigned the duties of chief executive officer to the company’s board chair, Douglas E. Brooks, following the retirement of Thomas Nusz, effective Dec. 22. Nusz, who also resigned his seat on the board, will remain employed by the company through Dec. 30.

Brooks was named chairman of the board in November 2020 following the company’s emergence from Chapter 11 bankruptcy for which it filed in September 2020 (OGJ Online, Sept. 30, 2020).

The board will conduct a search for a new chief executive officer, which it expects will be complete over the next few months. Brooks intends to maintain his role as board chair following selection of a new chief executive officer.

Samantha Holroyd, the chair of Oasis' Nominating, Environmental, Social & Governance Committee, has been named lead independent director during the period that Brooks is both the board chair and chief executive officer.

Nusz also resigned from the board of directors of OMP GP LLC, the general partner of Oasis Midstream Partners LP, effective Dec. 22. On that date, Brooks was elected to serve on the board of directors of OMP GP, and he is expected to be elected by the GP Board to serve as chairman of the board of OMP GP.

Nusz had led Oasis since its inception in 2007.