PITTSBURGH—EQT Corp. (NYSE: EQT) on Aug. 3 announced the appointment of Jeremiah J. Ashcroft III, 45, as senior vice president; and president, midstream of EQT Corp.
Ashcroft was also appointed senior vice president and COO for EQT Midstream Partners LP (NYSE: EQM) and will join the EQM board of directors. Ashcroft will replace Lisa Hyland, who has been with EQT since 2000 and whose intent to retire was announced in March 2017. Hyland will remain senior vice president, special projects for EQT through March 2018.
The change takes effect on Aug. 7.
“Along with an extensive background in the oil and gas sector, which includes operations, compliance, and the organic growth of pipeline systems, Jerry has tremendous team leadership experience and will be a strong addition to our executive team,” said Steve Schlotterbeck, EQT’s president and CEO. “With our growing asset position in the Marcellus, one of the best natural gas basins in the world, we expect our strategically located midstream operations and low-cost operating structure will continue to create both near-and long-term value for our shareholders.”
Ashcroft has a distinguished military career with the U.S. Marine Corps, as well as more than 15 years of experience in the oil, gas, and pipeline industries. His most recent position was CEO of Gulf Oil LP, a Boston-based distributor of fuel products and lubricants.
Prior to that, he was COO for JP Energy Partners where he led its IPO and had P&L responsibility for their NGL, crude and refined products businesses. He also spent several years with Buckeye Partners LP, a midstream logistics services company that owns and operates one of the nation’s largest independent common carrier pipeline networks.
Ashcroft held various roles of increasing responsibility while with Buckeye, including vice president of field operations, senior vice president global operations, and president of three business units. He began his energy career with Colonial Pipeline Co. LP as director of operations and later became chief compliance officer.
“EQT and EQT Midstream Partners are leading the industry with a mix of history and innovation,” said Ashcroft. “I look forward to partnering with the teams to preserve and support their safety culture while we continue to enhance efficiencies, deliver results, and drive shareholder value."
Ashcroft holds an MBA with a concentration in finance from Emory University Goizueta Business School; and received a Bachelor of Science degree from the U.S. Naval Academy.
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