Best to retire as SM Energy CEO
Anthony (Tony) J. Best will retire from his role as SM Energy Co. CEO within the next twelve months. The Board of Directors intends to appoint Javan D. Ottoson, currently president and COO, as the company's CEO upon Best's retirement. Best has served as the company's CEO since December 2006 and a member of its board since February 2007. He joined the company in June 2006 as its president and COO. Ottoson joined SM Energy in December 2006 as its COO after an extensive career in the oil and gas industry that began in 1980. He held technical and leadership positions of increasing responsibility with ARCO, Pure Resources/Unocal, and Energy Partners Ltd. prior to joining the company. Ottoson received a bachelor's degree from Colorado School of Mines. He was appointed president of the company in October 2012. Analysts at Global Hunter Securities called Best's retirement well deserved following a "very successful and active tenure as CEO in which he transitioned the company from a financially driven acquire and exploit model to a more technical early resource capture/exploration model."Ottoson, they continued, "has played a pivotal role throughout this progression and we believe will be viewed as the logical choice to succeed Mr. Best given the respect he commands both internally and with the Street," they continued. Best most recently joined the board of directors at Newpark Resources Inc.
Balombin joins Wells Fargo
Tim Balombin has joined Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company, as managing director in the Mergers and Acquisitions (M&A) practice of the Investment Banking and Capital Markets Group. Based in Houston, Balombin will focus primarily on the upstream oil and gas sector. He will report to Hugh Babowal, head of the Energy and Power M&A Group. Prior to joining Wells Fargo, Balombin was employed at RBC Capital Markets in its M&A team, focused on the energy, power and utilities sectors. Previous to his career in investment banking, he practiced law at Wilson Sonsini Goodrich & Rosati. He received his Juris Doctorate at the University of Denver Law School, his Masters of Business Administration from Baylor University, and his Bachelor of Business Administration in Finance from The University of Texas at Austin.
Wellsite Rental appoints Ferrier VP
Wellsite Rental Services LLC (WRS), a comprehensive, rental equipment provider for the drilling and production sectors of the oil and gas industry, has appointed Rex Ferrier as vice president - Texas operations. Ferrier joins Wellsite Rental Services with more than 36 years of experience in the oil and gas services business. He most recently held the position of account manager at Irongate Energy. He will be based in Victoria, Texas.
NOIA elects chairman John T. Rynd and vice chair Cindy B. Taylor
The National Ocean Industries Association (NOIA) Board of Directors has elected John T. Rynd as chairman of NOIA and Cindy B. Taylor as vice chair of NOIA for the upcoming 2014-2015 term. Rynd and Taylor assumed their positions at the NOIA Annual Meeting today in Washington, DC. Since 2008, Rynd has been the CEO and president, Hercules Offshore Inc. He also serves on the company's board of directors, and served as NOIA vice chairman for the 2013 -2014 term. Prior to joining Hercules Offshore in 2005, Rynd spent 11 years with Noble Drilling Services Inc. where he served in a variety of management roles, including vice president investor relations and vice president marketing and contracts. He graduated from Texas A&M University with a Bachelor of Arts in Economics. Taylor has been president and CEO of Oil States International Inc. since 2007. She also serves on the company's board of directors. Taylor has served at Oil States since 2000, first as senior VP, CFO and treasurer, then president and COO, followed by her CEO appointment in 2007. Prior to Oil States, she was CFO of L.E. Simmons & Associates, a private equity firm specializing in oilfield service investments. She holds a BBA from Texas A&M University and is a Certified Public Accountant. Under the leadership of outgoing chairman Dick Alario, chairman, president and CEO of Key Energy Services, NOIA expanded its membership to over 325 members and co-commissioned a study indicating that opening up the Atlantic offshore to oil and natural gas development could provide 280,000 jobs, $24 billion per year to the economy and supply 1.3 million barrels of oil equivalent to the United States. Alario will remain active on the NOIA board of directors. NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of both traditional and renewable energy resources on the nation's outer continental shelf. NOIA's mission is to secure reliable access and a fair regulatory and economic environment for the companies that develop the nation's offshore energy resources in an environmentally responsible manner.
Stover tapped to succeed Davidson as Noble Energy CEO
Charles D. Davidson, chairman and CEO of Noble Energy Inc., plans to retire May 1, 2015. He will leave the board of directors at that time. Davidson has served as CEO and director since joining the company in 2000. The board announced that it will propose the election of David L. Stover as a director at its April 22, 2014 organizational meeting following the Annual Meeting, and that it intends to appoint Stover as CEO in October 2014. Davidson will serve as the company's chairman until the 2015 Annual Meeting. Stover currently serves as the company's president and COO. Stover was elected president and COO of Noble Energy in April 2009. Prior to that, he served in several other executive positions following his joining the company in 2002. Before joining Noble Energy, he was employed by BP America Inc., Vastar Resources and Atlantic Richfield. He holds a bachelor's degree in petroleum and natural gas engineering from Pennsylvania State University and has approximately 35 years of industry experience.
Welch appointed EVP, CFO of JP Energy Partners
JP Energy Partners LP has appointed Patrick Welch as the company's executive vice president and CFO. Welch had served as the company's interim CFO since November 2013. Welch brings over 24 years of energy industry finance and accounting experience. Most recently, he served as a managing director at Opportune LLP. Welch previously served as CFO for Atlantic Power Corp., and also for a privately held renewable energy development and construction company. Welch obtained his bachelor's degree from the University of Central Oklahoma, and is a certified public accountant.
Ashcroft named executive VP, COO of JP Energy Partners
JP Energy GP II LLC, the general partner of JP Energy Partners LP, has appointed Jeremiah J. Ashcroft III as the company's executive vice president and COO. Ashcroft brings over 14 years of midstream compliance and operations experience to JP Energy. Most recently he served as president of Buckeye Services, a Buckeye Partners LP division, in Houston, Texas, where he oversaw refined products trading, Lodi Natural Gas Storage and Buckeye Development & Logistics. Ashcroft was a decorated Major in the United States Marine Corps and earned his bachelor's degree from the United States Naval Academy and his MBA from Goizueta Business School, Emory University.
Genesis Energy COO to resign
Steve Nathanson, president and COO of Genesis Energy LP, resigned from the company April 30, 2014. He has agreed to serve in an advisory capacity for the next three years. Nathanson joined the Houston-based company through an acquisition in 2007. Genesis, a diversified midstream energy master limited partnership, is engaged in pipeline transportation, refinery services and supply and logistics.
Lassarat to succeed Power as Kentz CFO Kentz Corp. Ltd., the holding company of the Kentz engineering and construction group, reports that CFO Ed Power will step down from his position on May 29. Consistent with his retirement, Power will not stand for re-election at the next Annual General Meeting on May 16, and will retire as executive director. Meg Lassarat will succeed Ed Power as CFO, and will be appointed to the Kentz board thereafter. Lassarat holds over 20 years of global financial experience. Most recently, Lassarat was CFO of UniversalPegasus International. Prior to this role, Meg spent eight years as CFO of Mustang Engineering. Power will remain with Kentz until August 2014 to support Lassarat in her transition.
American Energy Partners hires Launer as senior VP
American Energy Partners LP (AEP-LP) has hired Curt Launer as its senior vice president - capital formation. Launer will focus primarily on AEP-LP's direct investor relationships and will maintain an office in New York City. He joins AEP-LP from Deutsche Bank, where he has been an equities research analyst and investment banker with coverage of natural gas and master limited partnerships. Previously, Launer was an investment banker at Sagent Advisors and an equities research analyst at Credit Suisse and Donaldson, Lufkin and Jenrette. He is a graduate of the State University of New York at Buffalo with a BS degree in business and accounting.
Friant joins CIt as managing director
CIT Group Inc., a provider of financing and advisory services to small businesses and middle market companies, has appointed Todd Friant managing director of CIT Corporate Finance, Energy. He will be responsible for leading the origination efforts for senior lending opportunities in the oilfield services and midstream sub-sectors. Prior to joining CIT, Friant was a managing director in American Capital's Energy Group and served on various boards. Previously, Friant worked at Hunt Resources where he assisted in the build-out of the energy-focused principal investing effort, and provided analytical support to the Hunt operating companies. Friant graduated summa cum laude from Texas A&M University where he received his MS in finance and BBA in accounting.
Sloan joins TAC Energy as VP, COO
TAC has named Fred Sloan as vice president and COO of the company's energy marketing division, TAC Energy. After serving in the US Marines, Sloan earned a chemical engineering degree and an MBA in finance from Drexel University. His petroleum career includes refinery management, physical and paper product trading, operations optimization analysis, P&L management, commercial portfolio management, sales operations and sales management. As VP & COO of TAC Energy, Fred holds P&L responsibility for TAC's refined products marketing division, including functional areas of supply, trading, marketing, operations/logistics and new market growth. Sloan joined the company's senior management team in September 2013.
EV Energy Partners, EnerVest make organization changes
EV Energy Partners LP and EnerVest have made organization changes. Terry Wagstaff will assume the position of vice president of acquisitions and engineering at EVEP. Ron Gajdica resigned as senior vice president of acquisitions of EVEP, effective April 30. Wagstaff joined EnerVest Ltd. as senior technical advisor – acquisitions and engineering in October 2008. Prior, Wagstaff worked for El Paso in a variety of engineering roles. He earned a BS in petroleum engineering from Texas A&M University and an MBA from Rice University. Richard Parrish was promoted to vice president of acquisitions and engineering, EnerVest Ltd. Prior, Parrish served EnerVest as senior technical advisor - acquisitions and engineering since 2011. Before joining EnerVest, he served as vice president - engineering for Imperial Capital and Petrobridge Investment Management LLC. He graduated from the University of Houston with a BS degree in chemical engineering with a petroleum option. Tony Lopez was promoted to vice president of acquisitions and engineering, EnerVest Operating Co. (EVOC). He will provide operations support to the evaluation of A&D transactions for both EnerVest Ltd. and EVEP. He will retain his current planning and analysis responsibilities along with reserves analysis and reporting. Prior to this promotion, Lopez served as director planning and analysis for EVOC. He also served as director of engineering for EnerVest's Eastern Division in Charleston, WV. He joined the company in 2004 after earning his degree in petroleum and natural gas engineering from West Virginia University.
Bouley joins Opportune's restructuring practice
Ryan Bouley has joined Opportune LLP as managing director in the firm's restructuring practice. Previously, Bouley was a member of the restructuring group at Duff & Phelps Securities (formerly Chanin Capital Partners) in New York, where he advised debtors and their stakeholders in connection with numerous chapter 11 bankruptcy cases and out-of-court restructurings. Bouley began his career at JPMorgan, and has more than ten years of restructuring, distressed investing, and leveraged finance experience. He received a bachelor's degree in international relations and economics from Tufts University and a JD from Wake Forest University School of Law. He will be based in New York.
Empire O&G appoints Aitken as CEO
Empire Oil & Gas NL has appointed Ken Aitken as chief executive. Aitken is experienced in Western Australia's (WA's) oil and gas industry, in particular the Perth Basin, which hosts Empire's assets, as well as extensive international experience gained as a senior executive with Amerada Hess and Enterprise Oil in Norway, the UK, and Indonesia. Aitken previously served as general manager of operations and engineering with ASX-listed New Standard Energy, with responsibility for managing all operated asset activities with joint venture partners Conoco Phillips and Petrochina. Prior, Aitken held the position of WA business unit manager/asset manager with Origin Energy.
BP appoints head of Russian business
BP has appointed David Campbell as president of BP Russia. Campbell, currently head of the Group Chief Executive's Office in London, will be based in Moscow. He has 30 years' experience in BP, in commercial, technical, and operational leadership roles. Between 2003 and 2007, Campbell was based in Russia as a senior member of TNK-BP's upstream leadership team.
