A&D - People & Companies - November 21, 2019Approach Resources announced the resignations of Morgan D. Neff and Matthew D. Wilks from its board of directors, effective Oct. 31 and Nov. 1, respectively. Centennial Resource Development elected Steven J. Shapiro director. He is currently a senior advisor to Outfitter Energy Capital and serves on the advisory board for Pickering Energy Partners LP. EQT Corp. named Todd M. James chief accounting officer, effective Nov. 4. He succeeds Jeffrey C. Mitchell, current principal...
Nov 21, 2019
CM - People & Companies - November 15, 20193Bear Energy, LLC named Craig Harris CEO to succeed founder Bob Clark, who will remain as chairman of the board. Harris is former EVP and COO of Enable Midstream Partners, and has held various managerial roles at Columbia Pipeline Group, Ni Source, and El Paso Corp. Antero Resources Corp. elected Vicky Sutil and Tom Tyree as Class III and Class I directors, respectively. Sutil was VP of commercial analysis for a California Resources Corp. marketing unit and also worked with Occidental...
Nov 15, 2019
PS - People & Companies - November 2019Bonanza Creek Energy appointed Carrie Hudak to its board. Hudak most recently was VP of DJ Basin development at Anadarko Petroleum, where she worked for nearly 20 years. Centennial Resource Development appointed Steven J. Shapiro to its board, where he will serve on the audit and compensation committees. Shapiro is currently senior advisor for Outfitter Energy Capital and serves on the advisory board for Pickering Energy Partners. Paleo Resources announced that CEO Marc Rhoades...
Nov 11, 2019
A&D - People & Companies - October 10, 2019Denver-based Cimarex Energy Co. announced the retirement of Michael J. Sullivan from the board and the appointment of Kathleen A. Hogenson as independent director, effective Sept. 30. Hogenson is president and CEO of Zone Oil & Gas, which she co-founded in 2007. Grizzly Energy LLC announced that R. Scott Sloan stepped down as president and CEO and Jonathan C. Curth has been appointed his successor in these roles on an interim basis. Curth has served as Grizzly’s general counsel,...
Oct 10, 2019
A&D - People & Companies - September 19, 2019Alta Mesa Resources declared bankruptcy on Sept. 12 and concurrently announced management changes. Interim CEO Jim Hackett is now executive chairman and will remain involved with the board and management during the restructuring process. Former interim strategy and corporate development EVP Mark Castiglione has been promoted to CEO. Former interim president Randy Limbacher is now strategy EVP, while former COO John Campbell is now president and COO. Devon Energy named David Harris...
Sep 19, 2019
PS - People & Companies - September 9,2019Comstock Resources appointed Ronald Mills as VP of finance and investor relations. Mills is joining Comstock's new management team put in place with the company's recent $2.2 billion acquisition of Covey Park Energy and will assist the company with the corporate planning, capital markets transactions and investor relations. Mills brings almost 25 years of financial experience in the energy industry. Prior to joining Comstock, he spent his career at Johnson Rice & Company LLC covering small...
Sep 09, 2019
CM - People & Companies - August 02, 2019Alta Mesa Resources, Inc.
announced that VP and chief accounting
officer Ronald J. Smith was terminated
effective July 19. Baker Hughes, a
GE company named Jud
Bailey VP of investor relations, succeeding
Philipp Mueller, who resigned. Bailey joins
BHGE from Wells Fargo Securities. Chaparral Energy, Inc. elected
Marcus Rowland interim chairman of the
board effective July 25. He replaces Robert
F. Heinemann, who resigned on July 10. Comstock Resources expanded its
board of...
Aug 02, 2019
PS - People & Companies - July 29, 2019Alta Mesa Resources and Ronald
J. Smith, VP and Chief Accounting
Officer, came to a mutual understanding
with respect to Mr. Smith’s
separation from the company
and all positions with each of
the company’s affiliates, including Alta
Mesa Holdings GP, LLC, the general
partner of Alta Mesa Holdings, LP, which
will occur effective July 19. Comstock Resources completed
its acquisition of Covey Park Energy.
Comstock's board was expanded following
the merger to include Covey Park's...
Jul 29, 2019
A&D - Callon’s Carrizo buy continues shale consolidation trend - July 2019Callon Petroleum’s $3.2 billion
acquisition of Carrizo Oil & Gas
continues the trend of Permian corporate
consolidation, most recently
evidenced by Occidental
Petroleum’s $57 billion
acquisition of Anadarko. While clearly
an acquisition with Callon’s management
having full control of the combined
company, the deal does have some
elements in common with recent “mergersof-equals” because they are similar sized
companies, the post-deal shareholder
split will be a relatively even and...
Jul 18, 2019
A&D - Kew Drilling shops Texas Austin Chalk asset package - June 2019KEW Drilling is seeking buyers for 100% of its leasehold interest covering 12,300
net acres (13,550 gross) in Lavaca and Fayette counties, Texas, within the Austin Chalk
formation. The company holds an average operated 90.7% WI (75% NRI), with 100% WI
in 88% of the net acres marketed.
There are 90 identified gross drilling locations, net resources of 49,000 boe
(51% oil) and estimated oil-in-place of 20 MMbbl per section. The development
plan includes 15 operated drilling spacing units that...
Jun 05, 2019
A&D - People & Companies - April 24, 2019Fort Worth-based Approach
Resources named Sergei Krylov as CEO,
succeeding J. Ross Craft, who resigned as
chairman and CEO. Krylov has
served as Approach’s EVP and
CFO since joining the company
in early 2014. He retains his duties as
CFO. The company also announced
that current director Jim Crain has been
named chairman. STACK pure-play Chaparral Energy
appointed Marcus “Marc” Rowland as
an independent director of the board.
Rowland is the founder and senior
managing director of IOG...
Apr 24, 2019
Reluctant capital markets deter M&A near year’s endAfter a series of landmark deals in the first half of Q4, the US upstream deal market has spent the last few weeks in a holding pattern amid oil price uncertainty raised by fear of a global supply glut. As of Dec. 12, only 60 deals have been announced in Q4 according to the PLS Global M&A Database, putting the market on track to reach 70-75 deals by Dec. 31. That would make this the first quarter with fewer than 100 deals announced since 3Q16.Of course, the deals that were announced...
Dec 12, 2018
A&D - News Briefs - January16, 2020Hess Corp. sold 0.02-2% ORRI in 38 properties with 88 wells across several counties in the Eagle Ford to an undisclosed buyer via EnergyNet. Current gross production is 5,220 boe/d (74% oil), and average monthly net income over the last four months was $27,193. Six active permits have been issued on the acreage. Operators include Earthstone Energy, Lonestar Resources, Penn Virginia and ZaZa Energy. LOGOS Resources II, a portfolio company of ArcLight Capital Partners, sold ORRIs in...
Jan 16, 2020
PS - South Texas Briefs - September 9, 2019On its 77,000 net acres South Texas position, Carrizo Oil & Gas drilled 11 operated wells and completed 30 during Q2. In June, a 13- well multi-pad on the Brown Trust project area reached a combined peak IP30 of 11,100 boe/d (85% oil) from average 6,100-ft laterals on restricted chokes. In July, the company brought on production from a 14-well multi-pad in its Irvin project area; to date, the project has achieved a peak 7-day rate of more than 8,000 boe/d (93% oil) from average 6,700-ft...
Sep 09, 2019
PS - News Briefs - June 13, 2019Eagle Ford-focused Penn Virginia
turned to sales nine wells during Q1 and
averaged production of 24,692 boe/d (74%
oil), up 53% YOY. The company plans to
grow 2019 production 25-30% YOY utilizing
a two-rig program to drill 40 wells, including
20 extended laterals. Guidance has been
set at 27,100-28,300 boe/d for production.
Capex is expected to be $345-365 million,
down 15% at midpoint. Sundance Australia Ltd. completed
the Bracken 22H and 23H in McMullen
County. The wells were drilled...
Jun 13, 2019