Beleaguered Weatherford International plc, beset for years by internal issues and mounting debt, next month is bringing aboard its third CEO in as many years to attempt to instill a “fresh perspective.” Incoming CEO Girish K. Saligram, who also has been named president, would take over in mid-October. He previously was COO at Exterran Corp.…
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Articles from Management
ProPetro Forecasting Fewer Fracking Fleets as Lower 48 Demand Weakens
Pressure pumping expert ProPetro Holding Corp. deployed 25.1 fleets in the Lower 48 during the third quarter, but utilization in the final three months is likely to decline to 18-20 because of “customer budget exhaustion, seasonality and overall softening industry demand,” CEO Dale Redman said Thursday.
Water Strategies Scrutinized as E&Ps, Midstreamers Look to Capitalize on Management
Appalachian producers trying to control costs in a low-price natural gas environment, along with their counterparts in the Permian Basin grappling with soaring production volumes, are more seriously thinking about water management in what could be a big opportunity for the midstream sector in the coming years.
Growing Pains for EQT as Costs Soar, More Execs Depart
EQT Corp. on Thursday said it would cut its 2018 production guidance and increase spending after a frenzied stretch of drilling in the wake of its Rice Energy acquisition put stress on its supply chain, logistics, pad operations and sent costs soaring.
Halliburton Shareholders Reject Executive Compensation Plan
Halliburton Co. shareholders have rejected for the first time an executive compensation plan that management had touted to line up with company returns and retain key employees.
Weatherford Gains in North American Land as Overhaul Continues
Tasked with turning around Weatherford International plc, CEO Mark McCollum said Wednesday challenging days still are ahead as management restructures and casts off dead weight.
People — Anadarko Management Changes
Anadarko Petroleum Corp.has shuffled its management team following the departure of Executive Vice President (EVP) Brad Holly, who was in charge of U.S. onshore exploration. Holly has resigned to pursue “other interests.” Danny Brown, formerly EVP of international and deepwater operations, was tapped to lead U.S. onshore operations, with responsibility for upstream and midstream activity in Colorado, Texas, Utah and Wyoming. Ernie Leyendecker, who was handling international/deepwater exploration, was named EVP of worldwide exploration, which now includes U.S. onshore activity. EVP Mitch Ingram, formerly running the global liquefied natural gas arm, is taking over international and deepwater operations, as well as project management.
BOEM’s Risk Management Rules Again Delayed; Hopper Moves to Solar Industry
Following oil and gas industry pushback, the Bureau of Ocean Energy Management (BOEM) has extended a deadline to implement more stringent financial assurance and risk management requirements to ensure operators are able to pay for decommissioning and removing offshore production facilities.
BLM Adds Online Land Nominations to Oil/NatGas Leasing Process
The Interior Department’s Bureau of Land Management (BLM) has automated the way members of the public and industry nominate lands for possible oil and natural gas development, the agency said Monday.
BLM Issues Instructions on Implementing Land-Use Plans For Sage Grouse
The U.S. Bureau of Land Management (BLM) on Thursday issued instructions for conserving the greater sage grouse and its habitat in seven different land-use situations, oil and natural gas development being one.