Extraction Oil & Gas Inc. promoted its chief accounting officer, Tom Brock, to CFO following the resignation of Rusty Kelley, the Denver-based company said Sept. 4.
Kelley’s resignation, effective Sept. 15, was “to pursue other interests,” according to the company press release. Extraction is an independent energy exploration and development company focused primarily in the Wattenberg Field within the Denver-Julesburg Basin in Colorado.
Kelley had served as Extraction’s CFO since July 2014, after previously running the oil and gas practice for global investment bank Moelis & Co. In late 2016, he helped Extraction take public in what has been one of the rare E&P IPOs since the oil crash in 2014.
Brock, who has been designated by the Extraction board to assume the role of CFO, will also continue in his current role as vice president and chief accounting officer, which he has held since 2016. According to the company release, he has over 21 years of energy-focused accounting experience and had previously begun his career with KPMG LLP.
Extraction also said that the board has appointed Marianella Foschi as vice president of finance. Foschi had previously served as director of finance since 2015.
Extraction Oil & Gas president and acting CEO, Matt Owens, wished Kelley well and thanked him for his contributions to the company over the past five year. He also welcomed Brock and Foschi into their new roles.
“Tom and Marianella have been integral leaders for Extraction and their knowledge of the company, coupled with their financial backgrounds and experience, will allow for a smooth transition,” Owens said in a statement. “We believe these will be great additions to our leadership team and will benefit us as we look to deliver on our company goals.”
Recommended Reading
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
2024-05-16 - The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Aramco Credits Adaptability, Collaboration for Driving Innovation
2024-05-15 - Aramco’s implementation of different approaches has led to the creation and commercialization of newer products, said Max Deffenbaugh, principal scientist for Aramco, at the 2024 Offshore Technology Conference in Houston.
OTC: E&Ps Improving Operational Safety with Digitization
2024-05-13 - Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.