VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that Fabrice Nze-Bekale was appointed as a new independent director to the Company’s Board of Directors. Mr. Nze-Bekale will serve on the Audit, Compensation, Strategic and Nominating and Corporate Governance Committees. He will stand for election at the Company’s next annual meeting of stockholders. Additionally, Bradley Radoff has resigned from the Board of Directors effective January 28, 2022.

Preng & Associates assisted in the search. “We had great pleasure in working with VAALCO Energy to appoint Fabrice Nze-Bekale to their board of directors,” said Lead Search Consultant, Jozsef Marton. “The energy sector in #Africa is going through a period of great #transformation. It is important that companies operating in the region understand the local environments they are doing business in. Born in Gabon, Fabrice will bring hands on knowledge of growing businesses both in country and across Africa giving VAALCO increased capability to grow their operations responsibly in Gabon and beyond.”

Andrew L. Fawthrop, VAALCO’s Chairman of the Board commented, “We believe that Fabrice will bring a unique perspective to our Board with his significant Board and senior management experience in mining and banking in West Africa that will help support VAALCO in achieving our strategic goals. He has built an extensive network of connections in the U. K. and particularly in Gabon, and has developed a keen understanding of doing business in the region. We also want to recognize Brad Radoff for his service on VAALCO’s Board and we would like to thank him for his insight, expertise and dedication during his tenure. We are excited about the future for VAALCO with the continued development of our interests in offshore Gabon, upside opportunities in Equatorial Guinea and the potential to integrate accretive acquisitions aimed at further strengthening VAALCO and growing shareholder value.”

Fabrice Nze-Bekale has over 25 years of experience in mining, banking, telecoms, M&A and international finance. Mr. Nze-Bekale has served on numerous boards and as a senior executive across his career. He currently serves as an independent director on the Board of Orabank Gabon, where he is also the Chairman of the Audit Committee and serves on the Risk Committee. From 2012 to 2020, he was a member of the Board of the Fonds Gabonais D’Investissements Strategiques, Gabon’s sovereign wealth fund. He has also served on the Boards of several Gabonese mining companies.

Mr. Nze-Bekale has been Chief Executive Officer of ACT Afrique based in Dakar, Senegal since 2017, providing strategic advisory and investment banking expertise to governments as well as to public and private entities in West Africa. Prior to joining ACT Afrique, from 2012 to 2017, he served as Chief Executive Officer of Societe Equatoriale Des Mines, the national mining company in Gabon, which he helped create to manage Gabon’s investments in the sector. Prior to that, he was Director of Investment Banking for Standard Bank PLC based in London from 2008 to 2011 and Finance Manager for Celtel International from 2005 to 2008. Fabrice began his career at Citibank Gabon, where he rose to become the Head of Corporate Banking. Mr. Nze-Bekale is a Gabonese national and holds a Masters degree in Finance and Financial Engineering from the University of Paris-Dauphine (France) with an MBA from the London Business School (UK).

View source version on vaalco.com: https://www.vaalco.com/investors/news-events/press-releases/detail/321/vaalco-energy-announces-changes-to-its-board-of-directors

October 26, 2021 – Houston, TX-based executive search firm Preng & Associates recently assisted in the recruitment of Daniel J. Foley and Vikas Anand as the new chief technology officer and chief development officer, respectively, at GoGreen Investments Corp. Consultant Mark Ciolek led the assignment.

Mr. Foley has more than 30 years clean-tech experience in financial, technical and regulatory challenges of bringing green power onto grids. He formerly served as CEO of GlidePath, an independent developer and owner of advanced energy systems. Before that, he was COO of Lincoln Clean Energy, responsible for origination, development, interconnection, permitting, construction, and operation of solar and wind portfolio. Mr. Foley also served as CEO of ACCIONA’s North American business focused on the development, ownership, and operation of one the largest portfolios of renewable energy and infrastructure projects in the U.S.

Mr. Anand has 22 years of management leadership roles across energy and other diverse businesses at GE including CEO of GE Renewable Energy – Onshore Wind Americas. He has extensive experience in business transformations, capital allocation, strategy, operations and talent development. Under his leadership, GE Onshore Wind business was restored to the No. 1 position in the U.S., growing market share from 29 percent to 53 percent. Mr. Anand is also former CFO and a voting member of the investment committee of GE Energy Financial Services (~$16 billion assets), providing equity and debt financing to renewables and gas-fueled power generation sectors. He is a former member of the board of American Clean Power Association and represented the industry before members of U.S. Congress.

In addition to these two recent placements, GoGreen Investments Corp. recently announced the upsizing and pricing of its IPO of 24,000,000 units at $10 per unit. The offering was upsized from 20,000,000 units. The units will be listed on the NYSE and began trading last Thursday under the ticker symbol “GOGN.U”.

Energy-Focused Recruiters

Preng & Associates, founded in 1980, is a retainer-based, international executive search firm specializing solely in the energy industry. The firm’s experience spans the entire energy value chain – from the well head to the wall socket. Its subsector verticals have specific expertise in oil and gas (upstream, midstream, and downstream), oilfield equipment and services, power and utilities, renewables, engineering and construction and industrials. The recruiting outfit has conducted more than 3,800 engagements for over 800 companies and placed highly qualified individuals for board, executive management, and professional positions in 91 countries, according to the firm.

Mark Ciolek leads the utility/power practice at Preng & Associates. His search practice is focused on electric and gas utilities, independent generators, renewable energy, and industrial/services companies supporting the utilities and power sector. Mr. Ciolek combines twelve years of senior-level search experience with an extensive knowledge base and network developed during his prior 25 years of industry and management consulting. Leveraging this combination of experience, Mr. Ciolek brings an insightful and pragmatic view to helping clients acquire the talent needed to compete successfully in the utility/power sectors. He conducts a wide variety of senior level assignments, including CEO/President, COO and CFO roles. His functional search experience includes operations, engineering and construction, business and project development, regulatory, strategy, and IT.

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media

Original source: https://huntscanlon.com/preng-associates-fills-top-posts-for-gogreen-investments-corp/

Preng & Associates places T. Mitch Little as a Board Director of Helix Energy Solutions Group.

Preng & Associates assisted Helix in another Board search. Houston-based offshore well intervention firm Helix Energy Solutions has appointed T. Mitch Little as a new member of the board of directors.

Little, 58, served as Executive Vice President – Operations for Marathon Oil Corporation from August 2016 until his retirement in December 2020, where he was responsible for all operations and development activities.

Before that Little served in a variety of roles at Marathon, including Vice President – Conventional & Oil Sands Mining Assets, Vice President – International & Offshore Exploration & Production Operations, Managing Director – Norway, and General Manager – Worldwide Drilling & Completions.

Little joined Marathon in 1986 and has over 30 years’ experience in the petroleum industry in various technical, supervisory and senior management positions.

He previously served as the Chairman of the Oilfield Energy Center, a non-profit venture dedicated to expanding awareness of subsurface hydrocarbon energy resources and supporting global stewardship in the communities that develop those resources in a safe and environmentally responsible manner. Little will serve as a Class I director whose term will expire at Helix’s next Annual Meeting of Shareholders.

Primoris Services Corporation (NASDAQ GS: PRIM) today announced the results of the Company’s Annual Meeting of Stockholders held on May 4, 2021, at 9:00 a.m. Central time at the Company’s headquarters in Dallas, Texas.

At the meeting, stockholders approved the election of nine directors. The directors are: David L. King, Chairman, Primoris; Stephen C. Cook, President and Principal Stockholder, Fieldstone Partners; Carla S. Mashinski, Chief Financial and Administrative Officer, Cameron LNG; Terry D. McCallister, former Chairman and Chief Executive Officer, WGL Holdings, Inc. and Washington Gas; Thomas E. McCormick, President and Chief Executive Officer of Primoris; Jose R. Rodriguez, former senior audit partner at KPMG LLP; John P. Schauerman, former Executive Vice President of Corporate Development, Primoris; Robert A. Tinstman, former President and Chief Executive Officer, Morrison Knudsen Corporation; and Patricia K. Wagner, former Group President of U.S. Utilities for Sempra Energy.

Preng & Associates assisted in the search.

The stockholders also approved the ratification of the selection of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2021.

David L. King, Chairman of the Board, said, “I want to thank our two retiring board members, Tom Tucker and Pete Brown, whose wisdom and counsel over the past decade have been invaluable. I also want to welcome our new board member Jose Rodriguez, who brings with him a wealth of knowledge in accounting, auditing and corporate governance gained during his illustrious career with KPMG.”

“We want to thank our stockholders for their participation in our annual meeting and for their continued confidence in our strategy and management,” said Tom McCormick, President and Chief Executive Officer of Primoris. “We remain committed to earning that trust every day.”

About Primoris

Founded in 1960, Primoris is one of the leading providers of specialty contracting services operating throughout the United States and Canada. Primoris provides a wide range of specialty construction services, fabrication, maintenance, and engineering services to a diversified base of blue-chip customers. For additional information, please visit www.primoriscorp.com.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that state Primoris or its management’s intentions, beliefs, expectations or predictions about the business, financial performance and prospects of the Company, which, by their nature, involve known and unknown risks and uncertainties. Factors that could cause actual results to differ materially from those contemplated above include, among others, the risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. This press release speaks only as of the date hereof, and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005946/en/

(April 13, 2021) Oil and gas company Apache has appointed Tracey K. Henderson as its Senior Vice President, Exploration. Henderson joins the company from Kosmos Energy, where she served as Chief Exploration Officer. Preng & Associates assisted in the search.

“While at Kosmos, she contributed to the discovery of the Jubilee Field offshore Ghana, one of the largest oil discoveries offshore West Africa in a decade,” Apache said.

Henderson was also a key member of the technical team responsible for the Tortue, Marsouin, Teranga and Yakaar natural gas discoveries offshore Mauritania and Senegal, which together opened one of the largest new hydrocarbon basins along the Atlantic Margin.

Prior to joining Kosmos, she served as a project geologist at Triton Energy working on the Ceiba, Okume and Oveng oil discoveries offshore Equatorial Guinea. Henderson earned a master’s degree in geophysics and a bachelor’s degree in geology from the University of Texas at Dallas.

“We are thrilled to welcome Tracey to our team. Her global experience and technical expertise will be a strong complement to our exploration efforts and recent discoveries offshore Suriname,” said John J. Christmann IV, APA’s chief executive officer and president.

“Tracey’s track record of exploration success includes notable and significant discoveries across the world including major oil and gas resources offshore Mauritania, Senegal, Ghana, and Equatorial Guinea. We are looking forward to the expertise, energy and leadership she will bring to APA.”

View Source Version: https://www.oedigital.com/news/486795-kosmos-energy-exploration-head-moves-to-apache

Preng & Associates is delighted to be a Bronze Sponsor for the Africa E&P Summit | 22 & 23 September 2021. The Summit will be hybrid event, encompassing an in-person conference in London in which an online audience also participates.

The Africa E&P Summit brings together Africa’s upstream industry for a unique event shaped for companies active in Africa’s oil and energy game and provides unrivalled insight into the Continent’s fast changing exploration and energy horizon. The Africa E&P Summit will be hybrid event, encompassing an in-person conference in London in which an online audience also participates.

Hear directly from key players and decision-makers from corporate players active in Africa through to fast-moving independents, finance, legal and service & supply companies and African governments and NOC’s seeking investors.

For Tickets & More Information > https://www.frontierenergy.network/africa-e-p-summit

Preng & Associates is proud to sponsor the NextGen Energy Summit. On February 25th, 2021, Jozsef Marton will be speaking during Session 1 of the NextGen Energy Summit. Vince Pizzoni will be speaking during Session 4. They will be discussing how energy companies can attract and retain the brightest and most innovative minds. A new generation of leaders will need to tackle the challenges faced by all companies from oil and gas to clean technology. This is a fascinating topic at a time when many are thinking about leaving the industry or not joining it at all. 

NextGen Energy Summit Agenda

Register for the NextGen Energy Summit here!

(Feb. 8, 2021) Independent Oil and Gas (IOG), and oil and gas company focused on the UK North Sea, has has appointed David Gibson as its new Chief Operating Officer.

“David has extensive relevant North Sea engineering and project management experience over a near 30-year energy industry career, culminating in a number of executive management positions over the past decade,” IOG said.

Having started his industry career at Foster Wheeler Wood Group and Amec, he spent 15 years at Marathon Oil UK Ltd before moving to TAQA Bratani, where he was Technical Director until 2019.

Most recently he was with Ithaca Energy, where he led the integration of the North Sea assets acquired for $2 billion from Chevron and subsequently was appointed Assets Director.

“David’s appointment as COO, which is not initially intended to be a board position, follows an extensive and thorough search process managed by a leading sector-focused executive search firm, Preng & Associates, which covered a diverse range of candidates. It also enables Rupert Newall to step back from his Interim Project Director role and continue in his permanent role as Chief Financial Officer,” IOG said.

Andrew Hockey, CEO of IOG, said: “We are delighted to welcome David to lead the operating team at IOG where he will be a key contributor in successfully delivering on our ambition to be a safe, efficient, low-carbon developer and producer of high-value gas. In so doing he will build on strong existing foundations and I thank our CFO Rupert Newall for fulfilling the Interim Project Director role very effectively over recent months.

“David joins the company at an exciting time with Phase 1 construction in full swing and development drilling expected to start in around two months, targeting first gas in Q3 this year. Supported by an excellent team already in place across all disciplines, David will be able to hit the ground running and I have no doubt he will have a very positive impact across our business.”

IOG last year saw its field development plan for Core Project Phase 1 in the UK North Sea approved by the UK Oil and Gas Authority.

The Core Project comprises gas resources across six discovered UK Southern North Sea (“SNS”) gas fields. Phase One, approved by the OGA, will focus on the development of Blythe, Elgood, and Southwark fields.

The company in January said that work on the construction of the two platforms being built for the project was progressing well with delivery scheduled for 1Q 2021.

View Source Version: https://www.oedigital.com/news/485138-independent-oil-and-gas-names-new-coo

Preng & Associates remains devoted to an inclusive workplace of women in leadership. Over the past 7 years, we are proud that 50% of our Board placements have been women. Below are some of the fantastic leaders that Preng & Associates placed in recent years.

Preng & Associates conducted a survey of the financial community to better understand their perspective of the energy industry and future leadership. The survey includes responses from both the public and private equity investors, as well as bankers and consulting advisory firms. To those who participated, we want to express our deepest gratitude! Below is a summary and the key opinions expressed. Below are the full results.

There is a consensus that the oil and gas industry needs to focus on exceeding its cost of capital, generating free cash flow, and cutting costs, while reserves and production growth are consistently ranked as least important. Additionally, investors want their investments to pay off; public equity wants to see dividends and private equity wants profitability. Capital discipline is the key factor effecting the industry over the next five years. Oil and gas prices and ESG are also seen as very impactful. However, just as companies cannot control oil and gas prices, ESG risks are also inherent to fossil fuels and therefore ESG ranks low on what oil and gas companies should focus on today. Once oil and gas companies can survive and thrive, then the focus turns to ESG and building public trust once again.

The financial community agrees that leadership, capital discipline, and financial acumen are the most important qualifications of an executive. Executives who are focused on cash flow and corporate returns are also preferred amongst the financial community. While compensation structure did not rank highly, a handful investors ranked it as paramount; executives need to have their compensation more closely tied to shareholder returns. The investors felt that most current executives do not understand how to make money and many expressed a desire for youth as the old way of doing things is not working and new faces need to rise within the industry.

While diversity consistently ranked as the least important qualification for executive leadership, many believed it was important for boards. Public equity investors ranked diversity as most important and also felt that experience from other industries was the least sought-after trait for board members but not necessarily undesirable. Only 20% of survey participants would only consider board members with energy experience. The industrial, financial, and technology sectors led in desirability for non-Energy industry board members. Survey participants want to see board members who understand the investor and share a similar background in the financial industry. They also want to see board members who are innovative, which the technology industry is best known for. While no bankers or consultants recommended tobacco industry experience, investors saw the benefit of hiring from an industry that already had to adapt to adverse ESG pressures.

In conclusion, our industry needs to focus on free cash flow and return of capital with a long-term outlook towards ESG and companies need board members who understand the investor and can bring new ideas from outside the energy sector.  

Thank you again to those who participated and made this a success!

Preng-Associates-2020-Survey-Results