Please join Jozsef Marton, Director of Preng & Associates London, as he speaks at the Virtual Africa E&P Summit.
Head of Exploration
San Leon Energy Plc
Vice President – Exploration
Regulatory Specialist and Oil & Gas Lawyer
ACAS Law. Session Moderator
Preng & Associates
Preng & Associates is proud to sponsor the Virtual Africa E&P Summit.
(Sept. 10, 2020) In order to address the expanded global market demand for its products while positioning the company for increased growth, SeekOps has strengthened its leadership team by adding a new Chief Executive Officer to guide it through this critical next step.
SeekOps is pleased to announce Iain Cooper as its new CEO. Preng & Associates assisted SeekOps in its search.
Iain, who previously led technology development, strategy and investment at Schlumberger, brings 30 years of experience in the energy sector. His experience will not only lead SeekOps through effective international scaling of its technology and services, but also expansion beyond traditional energy-sector business into other major industrial verticals, such as biogas, waste management and mining, monitoring broader range of chemical species.
SeekOps Inc. develops and deploys advanced sensor technology for the energy sector to detect, localize, and quantify methane emissions through integrated drone-based systems. SeekOps’ unique sensor design eliminates false positive readings and localizes emissions sources to provide actionable data to oil and gas operators in the United States, Canada, Europe, and the Middle East. Backed by funding from the Oil and Gas Climate Initiative Climate Investments (OGCI-CI), and Equinor Technology Ventures (ETV), SeekOps provides best-in-class technology to meet increasingly stringent environmental, sustainability and governance (ESG) reporting requirements, and enables producers worldwide realize their goal to reduce methane intensity from operations.
Iain comments: “SeekOps actionable data products have been demonstrated in rigorous oil and gas environments, and while we will continue global growth to support upstream operations, SeekOps will also translate its capabilities to meet the needs of the midstream and downstream sectors. Furthermore, there are similar environmental and sustainability pressures across other industries that must be validated using accurate and reliable technologies, as typified by SeekOps.”
This move strengthens the current executive team as the company’s Founder and CEO of three and a half years, Andrew Aubrey, transitions to a new role as Senior Vice President of Strategic Partnerships. These strategic partnerships will be a key component of SeekOps’ future growth.
Media Contact – SeekOps Inc.
VP Business Development
Preng & Associates is proud to sponsor the upcoming Virtual Africa E&P Summit. We look forward to catching up with our clients and placements as well as making new connections.
Preng & Associates
Guest Speaker: Patrick Pouyanné
Executive Director & Head of E&P
President & CEO
Eco Atlantic Oil & Gas
Vice President Exploration – Africa
Ministry of Mines & Energy, Namibia
Egbert Faibille Jnr
Chief Executive Officer
Petroleum Commission Ghana
Honorable Archie Donmo
Liberia Petroleum Regulatory Authority (LPRA)
Africa Oil Corp.
Chief Exploration Officer
RWT Energy Advisory
VP Business Development
Head of Exploration
Global Head, Oil and Gas – Corporate and Investment Banking
San Leon Energy
Ministry of Petroleum and Energy, The Republic of The Gambia
General Manager: Regulation
Petroleum Agency SA
Acquisitions & Divestitures
Stellar Energy Advisors
Westwood Global Energy Group
Senior Research Analyst
Impact Oil & Gas
Head Oil & Gas
Partner – EMEIA Leader Oil & Gas Transaction Advisory Services
Head Oil and Gas, Southern Africa
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(Aug. 24, 2020) Crusoe Energy Systems Inc. (Crusoe) announced today that Matthew DeNezza joined as the Company’s Chief Financial Officer. DeNezza brings decades of financial and strategic leadership experience to the Digital Flare Mitigation® and distributed cloud computing company and will allow Crusoe to finance and build a new paradigm of ESG-forward energy and computing services for the oil and gas industry.
Preng & Associates assisted Crusoe in its search.
“Matt brings a new level of experience and leadership to our fast-growing team and will help Crusoe access new funding streams and financing relationships. With Matt’s support and financing capabilities, we can scale Crusoe by orders of magnitude.”
DeNezza, Crusoe’s new CFO, said, “I have served as the CFO of a publicly traded upstream operator as well as a private equity sponsored midstream operator, and I have heard first-hand from investors that they need to solve environmental problems like flaring. Crusoe goes one step further and is creating innovative new business models with their oil and gas clients that unlock value from previously stranded or wasted resources. This is an innovation that I want to be a part of.” Crusoe is already accomplishing these goals at a significant scale, with more than 30 flare-powered computing modules deployed across North America’s oilfields. The Company is reducing flaring by millions of cubic feet per day, eliminating emissions in the process and creating a new source of value for both energy producers and compute resource users. DeNezza continued, “I am inspired by Crusoe’s mission, values, and business proposition. We will continue to build Crusoe into a novel, paradigm-shifting leader in both the energy industry and technology industries.”
Chase Lochmiller, Crusoe’s CEO and Co-Founder, said, “Matt brings a new level of experience and leadership to our fast-growing team and will help Crusoe access new funding streams and financing relationships. With Matt’s support and financing capabilities, we can scale Crusoe by orders of magnitude.”
Cully Cavness, Crusoe’s President and Co-Founder, said, “Early in our conversations with Matt, he recognized the need for today’s oil and gas operators to embrace novel, efficient environmental technologies like Digital Flare Mitigation as part of the industry’s response to environmental, social and governance (ESG) demands from investors and the public. As an industry insider who wants to make a difference and be part of the solution, Matt is well aligned with Crusoe’s mission and environmental goals.”
Prior to joining Crusoe, DeNezza served as the CFO of Meritage Midstream, a private equity-sponsored midstream firm operating in the Powder River Basin in Wyoming. Previous to his leadership role at Meritage, DeNezza was the CFO of Eclipse Resources, an early entrant into the Utica shale play. DeNezza joined Eclipse in 2013 where he and the senior management team rapidly grew the business, took the company public in 2014 and eventually merged the business to create Montage Resources Corporation in 2018.
DeNezza launched his finance career as an energy-focused investment banker, primarily at Deutsche Bank in New York City, where he worked from 2002 to 2013 serving both privately held and publicly traded upstream, midstream and downstream firms.
Prior to Deutsche Bank, DeNezza served his country in the U.S. Navy as a commissioned officer assigned to the USS Boise, a fast-attack nuclear submarine, from 1994 to 1998. He holds a BA from Harvard University and an MBA from NYU Stern School of Business and lives in Denver, Colorado with his wife and children.
About Crusoe Energy Systems Inc.
Crusoe Energy Systems provides innovative solutions for the energy industry. By converting natural gas to energy-intensive computing, Crusoe’s Digital Flare Mitigation® service delivers an environmentally sound way to create a beneficial use for otherwise wasted natural gas. Crusoe has deployed flare mitigation projects in North Dakota, Montana, Wyoming and Colorado. Systems are scalable up to millions of cubic feet per day and can be deployed anywhere in the United States or Canada.
Background on Flaring
Natural gas flaring has become an acute pain point for shale oil producers, which produce natural gas as a byproduct of oil. This oil-associated natural gas production has outpaced gas pipeline infrastructure in many parts of the North American shale industry. In the absence of pipeline capacity, operators tend to burn natural gas in a process known as “flaring” or “combusting.” Approximately 335 billion cubic feet of natural gas are flared annually in the United States, according to latest 2017 data from the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), which is enough gas to power more than 7 million U.S. homes. Flaring generates pushback from the public and policymakers, who increasingly raise environmental concerns around emissions, resource waste, visual impacts and air quality.
Please reach out to firstname.lastname@example.org or visit www.crusoeenergy.com to learn more, and follow Crusoe on Linkedin and Twitter.
CEO and Chairman
(July 07, 2020) Primoris Services Corporation (NASDAQ Global Select: PRIM) today announced that its Board of Directors has appointed Patti Wagner and Terry McCallister as new directors, effective July 1, 2020.
Preng & Associates assisted Primoris in its search.
Ms. Wagner’s and Mr. McCallister’s appointed terms will expire at the 2021 Annual Meeting, at which time they will be up for re-election. With the addition of Ms. Wagner and Mr. McCallister, the Board will consist of ten members, of whom eight meet the Nasdaq guidelines as independent directors. The Board has not yet appointed Ms. Wagner or Mr. McCallister to any specific committees.
Ms. Wagner has over thirty years of experience in the utility and industrial markets, with leadership experience at both the corporate and operating subsidiary level. She was Group President of U.S. utilities for Sempra Energy (NYSE: SRE) until her retirement in 2019. Her career with Sempra spanned nearly twenty-five years and included such leadership roles as Chief Executive Officer of SoCal Gas and Chief Executive Officer of Sempra U.S. Gas & Power, which included Sempra’s renewable energy infrastructure portfolio along with other infrastructure assets. She also held leadership roles in accounting, information technology, and audit. Prior to her time at Sempra, she held positions at Fluor, Allergan Pharmaceuticals, and American McGaw.
Ms. Wagner currently serves on the Boards of Apogee Enterprises, Inc. (NASDAQ: APOG), where she is the chair of the Compensation committee, and of California Water Service Group (NYSE: CWT), where she is a member of the Audit and Nominating & Governance committees. Ms. Wagner holds a B.S. in Chemical Engineering from California Polytechnic State University and an M.B.A. from Pepperdine University.
Mr. McCallister has a forty-year history in nearly all aspects of the energy sector, including utilities, pipelines, clean energy, and exploration and production endeavors. He was Chairman and Chief Executive Officer of WGL Holdings, Inc. and Washington Gas from 2009 until his retirement in 2018. Prior thereto, Mr. McCallister served as President and Chief Operating Officer of WGL and Washington Gas, joining Washington Gas in 2000 as Vice President of Operations. He has also held various leadership positions with Southern Natural Gas and Atlantic Richfield Company.
Mr. McCallister currently serves on the Board of AltaGas Ltd. (TO: ALA), where he is a member of the Environment, Health, and Safety committee. His Board experience includes serving as the Chair of WGL Holdings prior to its being acquired. He has served on the National Petroleum Council, the American Gas Association, the Gas Technology Institute, and the Southern Gas Association and is a member of the Institute of Corporate Directors. Mr. McCallister has a B.S. in Engineering Management from the University of Missouri-Rolla and is a graduate of the University of Virginia’s Darden School of Business Executive Program.
Mr. David King, Chairman of the Board, commented, “We are very pleased to welcome both Patti and Terry to the Primoris Board of Directors in line with our Board succession plans and look forward to their contributions to the Board.”
Mr. Tom McCormick, President and Chief Executive Officer of Primoris, commented, “Both Patti and Terry bring their deep industry knowledge to the Board, as well as a hands-on understanding of the operational side of the business, particularly within the utility industry. We are confident that their skills will complement our existing Board members and bring useful insights to Primoris.”
Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the leading providers of specialty contracting services operating mainly in the United States and Canada. Primoris provides a wide range of specialty construction services, fabrication, maintenance, replacement, and engineering services to a diversified base of customers. The Company’s national footprint extends from Florida, along the Gulf Coast, through California, into the Pacific Northwest and into Canada. For additional information, please visit www.prim.com.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including with regard to the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “will”, “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, customer timing, project duration, weather, and general economic conditions; changes in our mix of customers, projects, contracts and business; regional or national and/or general economic conditions and demand for our services; price, volatility, and expectations of future prices of oil, natural gas, and natural gas liquids; variations and changes in the margins of projects performed during any particular quarter; increases in the costs to perform services caused by changing conditions; the termination, or expiration of existing agreements or contracts; the budgetary spending patterns of customers; increases in construction costs that we may be unable to pass through to our customers; cost or schedule overruns on fixed-price contracts; availability of qualified labor for specific projects; changes in bonding requirements and bonding availability for existing and new agreements; the need and availability of letters of credit; costs we incur to support growth, whether organic or through acquisitions; the timing and volume of work under contract; losses experienced in our operations; the results of the review of prior period accounting on certain projects; developments in governmental investigations and/or inquiries; intense competition in the industries in which we operate; failure to obtain favorable results in existing or future litigation or regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure of our partners, suppliers or subcontractors to perform their obligations; cyber-security breaches; failure to maintain safe worksites; risks or uncertainties associated with events outside of our control, including severe weather conditions, public health crises and pandemics (such as COVID-19), political crises or other catastrophic events; client delays or defaults in making payments; the availability of credit and restrictions imposed by credit facilities; failure to implement strategic and operational initiatives; risks or uncertainties associated with acquisitions, dispositions and investments; possible information technology interruptions or inability to protect intellectual property; the Company’s failure, or the failure of our agents or partners, to comply with laws; the Company’s ability to secure appropriate insurance; new or changing legal requirements, including those relating to environmental, health and safety matters; the loss of one or a few clients that account for a significant portion of the Company’s revenues; asset impairments; and risks arising from the inability to successfully integrate acquired businesses. In addition to information included in this press release, additional information about these and other risks can be found in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2019, and our other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Vice President, Investor Relations
(June 18, 2020) Unitil Corporation (NYSE:UTL) today announced the hiring of Robert B. Hevert, CFA, as Senior Vice President, effective July 23, 2020.
Preng & Associates assisted Unitil in its search.
It is anticipated that Unitil’s Board of Directors will appoint Mr. Hevert to the position of Senior Vice President, Chief Financial Officer (“CFO”) and Treasurer of the Company at its upcoming meeting on July 29, 2020. It is also anticipated that Laurence M. Brock, who has served as Unitil’s interim CFO and Treasurer since March 16, 2020, will step down as CFO and Treasurer on July 29, 2020, but will remain as Senior Vice President and will work directly with Mr. Hevert in order to ensure a smooth transition.
Mr. Hevert most recently served as Partner and Practice Area Leader of Rates, Regulation and Planning at ScottMadden, Inc., where he has practiced since 2016. Mr. Hevert was founder and Managing Partner of Sussex Economic Advisors, LLC from 2012 until 2016, and President of Concentric Energy Advisors, Inc. from 2002 until 2012. Mr. Hevert also served in senior positions at Navigant Consulting, Inc. (now, Guidehouse) from 1997 until 2002, and Vice President and Assistant Treasurer at Bay State Gas Company. Mr. Hevert holds a degree in business and economics from the University of Delaware, an MBA from the University of Massachusetts at Amherst, and is a CFA® Charterholder.
“I’m thrilled to have someone with Bob’s character, leadership and experience joining our executive team. Bob’s extensive background in the energy and utility industries including corporate finance, rates and regulatory matters, energy markets and strategic planning make him an ideal choice to lead Unitil’s financial organization,” said Thomas P. Meissner, Jr., Unitil’s Chairman, Chief Executive Officer and President. “I’d also like to thank Larry Brock for all he has done to ensure our continued success, not only through this transition, but over his many years of service.”
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 106,100 electric customers and 83,900 natural gas customers. For more information about our people, technologies, and community involvement please visit www.unitil.com.
For more information please contact:
Todd Diggins – Investor Relations
Alec O’Meara – Media Relations
There is much discussion as to how the Coronavirus crisis will change the way we live, shop, and work. Fundamentally though, what we are adapting to is risk, and how we manage that risk as individuals and collectively in society. In my mind, whether at home or work, the key to how we will ultimately address this is Resilience.
As more people than ever work from home, employees have become more resilient, coping with the daily demands of this new norm. Correspondingly, organisations must embrace a vision and values which demonstrate solidarity with their workforce and resilience to customers. For example, the crisis has underscored how dependent we are on the long supply chains of a globalised economy driven by cost and efficiency. Supply chain resiliency in the future will be measured by reduced complexity and improved reliability.
Linking the above to energy industry, and the Oil Gas sector in particular, it is easy to suggest that the industry has already adapted. In the last downturn, when oil price went from $100 per barrel to the $40’s, companies demonstrated their resilience by becoming more efficient and reducing costs. Yet with lower oil prices and demand expected for some time to come, the industry needs to do more than just repeat the lessons of the last downturn. The industry must demand purposeful leadership to find new ways and the resiliency to get through this crisis.
Leadership is often framed in terms of experience but what we at Preng see as key to resilience is diversity. Diversity of leadership not only by ethnicity or gender but diversity in thought and skills. Leaders who not only bring perspectives shaped by the last oil price slump, but who also understand both the importance of technology and possess the emotional intelligence required to embrace and enhance the new ways of doing business and managing assets. This combination will provide the needed resiliency and navigate a successful path to the new normal.
Preng Associates continues to help clients address these issues, providing insight and fresh thinking into the composition of energy Boards in 2020 and beyond.
(May 18, 2020) The Texas A&M Foundation publicly announced today the hire of Michael Pia, who assumed the role of chief investment officer on May 1. Pia will lead the Foundation’s investment staff and help drive critical decisions for the success of the Foundation’s long-term investment pool benefiting Texas A&M University.
Preng & Associates assisted The Texas A&M Foundation in its search.
The hiring of Pia comes at an important time as the Foundation investment team seeks to implement forward-thinking endowment management strategies throughout and beyond the period of market volatility during the COVID-19 pandemic, said Foundation officials.
Pia comes to the Foundation from the Teacher Retirement System (TRS) of Texas, where he most recently served as managing director of Strategic Partnerships & Research for its Investment Management Division (IMD), overseeing approximately 10 percent of the TRS Trust’s assets. He also served as chairman of the IMD’s Management Committee and as a voting member of its Internal Investment Committee. Previously, he worked as chief of staff to the TRS chief investment officer, coordinating and ensuring execution of his division’s internal and external executive-level initiatives across the Trust. Since 2015, Pia led a nine-person investment team that managed $15 billion in assets and six of the Trust’s largest relationships.
“I am very excited to join the Texas A&M Foundation, an organization with a culture and values that align closely with mine,” Pia said. “I am inspired by its work to build a brighter future for Texas A&M University so that Aggieland can continue to develop future leaders for Texas and our nation. My role as chief investment officer represents an opportunity to continue a lifetime of service, and I am highly motivated to make a significant and lasting impact on the Foundation and university.”
The Foundation’s executive leadership pointed to Pia’s lengthy track record of principled investment performance, as well as his leadership and technical skills honed over the last 30 years. “The Board of Trustees fully supports Mike’s hire,” said Otway Denny Jr. ’71, chairman of the Foundation’s board. “We believe we have recruited the best possible candidate to help us achieve our goals for the Texas A&M Foundation’s long-term investment pool.”
Prior to TRS, Pia served in the United States Marine Corps on active duty for 11 years and worked as a software/systems engineer for Lockheed Martin. In addition to holding certificates in financial analysis and alternative investment analysis, Pia holds an MBA from Texas Christian University, an M.S. in software engineering from the University of West Florida and a B.S. in mechanical engineering With Distinction from the U.S. Naval Academy. He is married and has two daughters.
“Mike has a great track record and unlimited potential. He has service in his DNA,” said Tyson Voelkel ’96, president of the Texas A&M Foundation. “Mike has the character, discipline and drive to think and act in the long-term best interests of the endowment. He believes in the power of higher education, and I know he will be a great partner as we evolve our capabilities and performance.”
As chief investment officer, Pia will supervise and guide the Foundation investment team to continually build and manage a portfolio that can perpetually meet the current and future needs of Texas A&M. He will play a crucial role in maintaining a diversified and resilient investment portfolio built to withstand severe market instability, such as the recent financial crisis that has occurred amidst the COVID-19 pandemic.
“Our number one priority is the prudent management of the long-term investment pool for the Texas A&M Foundation,” said Lou Paletta ’78, a member of the Board of Trustees and chairman of the Foundation’s Investment Committee. “Mike Pia is the right leader at the right time to partner with our CEO as they manage the endowment for the long-term benefit of Texas A&M University.”
The Foundation’s endowed funds, which come from private donors, are fundamental to ensuring Texas A&M’s future. These funds, all donated with philanthropic intent, are specifically directed toward programs, projects or initiatives in conjunction with the university’s academic partners. Distributions from the endowment annually fund scholarships, graduate fellowships, private research, student activities, college programs and capital construction.
Investment staff at the Foundation prioritize effective diversification and systematic oversight over the long-term to ensure that endowment funds are well managed and uniquely poised to weather the ups and downs of market volatilities, said Foundation officials. Historically, the long-term investment pool has been well-poised to recover from a number of financial downturns and continues to annually provide funds to Texas A&M even in tough economic times.
Voelkel went on to state, “Under Pia’s leadership of the investment team, we will continue to ensure that endowed donors’ gifts through the Texas A&M Foundation will be professionally invested for the benefit of Texas A&M’s students, faculty and staff for the coming decades.”
Texas A&M Foundation
The Texas A&M Foundation is a nonprofit organization that aspires to be among the most trusted philanthropies in higher education. It builds a brighter future for Texas A&M University, one relationship at a time. To learn more, visit txamfoundation.com.
Join our Partner, Laura Preng, as she interviews with David Ramsden-Wood to discuss what executive search firms are looking for when they view your resume and LinkedIn profile. Whether your in transition or looking to join a Board, these are some helpful tips and some important DOs and DONTs. Other topic include the state of the oil and gas industry and what you can do to make yourself stand out.