Devon Energy Corp.'s Dave Hager has taken over as president and CEO, succeeding John Richels who has retired and been named vice chairman of the board (see Shale Daily, Dec. 3, 2014). Richels, 64, is to become chairman when co-founder Larry Nichols retires from the board in 2016. Richels, who was elected CEO in 2010, joined Devon in 1998 and led Devon Canada Corp. until he was elected president in 2007. Hager, who joined Devon in 2009 as executive vice president of exploration and production, has been COO. "We owe John a debt of gratitude for his years of leadership and dedication, and for working closely with Dave to ensure a seamless transition," Nichols said. "Both have been instrumental in upgrading our portfolio and better positioning Devon to deliver shareholder value for years to come." Hager began his career in 1979 as a geophysicist with ExxonMobil Corp. predecessor Mobil Corp. He has a bachelor's degree in geophysics from Purdue University and a master's degree in business administration from Southern Methodist University.
Elliot J. Chambers, 42, has been named CFO of American Energy Partners LP affiliates American Energy-Woodford LLC, American Energy-Minerals LLC and American Energy-NonOp LLC. Former CFO Jennifer M. Grigsby has transferred to Ascent Resources LLC as its financial chief. Chambers is a former executive with Chesapeake Energy Corp. who was vice president/treasurer until this year. Grigsby has been CFO of AELP affiliates since February after working for Chesapeake for 19 years (see Shale Daily, Jan. 26). Ascent, formerly American Energy Appalachia Holdings LLC, was created to become fully independent of the Aubrey McClendon-led enterprise (see Shale Daily, June 10).