Anadarko Petroleum (ticker: APC) announced several high-level changes at the corporate management level this week, consolidating some management responsibility areas and shrinking its senior leadership team.
Investing focus is on U.S. onshore and tiebacks in the GOM: executive management team needed to contract accordingly – Walker
Anadarko Chairman and CEO Al Walker offered some detail as explanation of the management moves announced yesterday.
“We have successfully narrowed the focus of our business and concentrated development activities in world-class material, scalable assets. Consistent with this approach, our executive management team needed to contract accordingly,” Walker said. “Anadarko will continue to direct most of its investing toward our short- and intermediate-cash-cycling opportunities in the U.S. onshore and tieback opportunities in the Gulf of Mexico.”
Daniel E. Brown named EVP, U.S. Onshore Operations
Anadarko said that effective immediately, Danny Brown, formerly Executive Vice President (EVP), International and Deepwater Operations, has been named EVP, U.S. Onshore Operations, with responsibility for the company’s upstream and midstream activity in Colorado, Texas, Utah and Wyoming.
Prior to his post as EVP, International and Deepwater Operations, Brown held a variety of positions within Anadarko, including: Sr. Vice President, International and Deepwater Operations; Vice President, Operations for Anadarko’s Southern and Appalachia Region; Vice President, Corporate Planning; General Manager of the Maverick Basin and the company’s Freestone/Chalk area (U.S. onshore); Business Advisor for Planning and Reserves Administration in the Gulf of Mexico; and engineering roles in both the U.S. onshore and the Gulf of Mexico.
Mitchell W. Ingram Named EVP, International & Deepwater Operations and Project Management
Mitch Ingram, joined Anadarko in 2015 as EVP, Global LNG. In this management shuffle, Ingram was named EVP, International & Deepwater Operations and Project Management, overseeing Anadarko’s development and production activities in Algeria, Ghana, the Gulf of Mexico and Mozambique. Ingram will also assume responsibility for the company’s worldwide project-management and construction activities.
Prior to joining the company, Ingram worked with BG Group, where he served as a member of the company’s Executive Committee in the role of Executive Vice President – Technical. He also held positions of increasing responsibilities with BG Group’s LNG project in Queensland Australia, where he was the Managing Director of QGC. Prior to BG, Ingram was with Occidental Oil & Gas for 20 years.
Ernest A. Leyendecker Named EVP, Exploration
Ernie Leyendecker, formerly EVP, International and Deepwater Exploration, has been named EVP, Exploration, with responsibility for the company’s worldwide exploration efforts. U.S. onshore exploration is being combined with Leyendecker’s prior duties, consolidating all of the company’s exploration activities under his direction.
During his career, Leyendecker served as Sr. Vice President, International Exploration; Sr. Vice President, Gulf of Mexico Exploration; Vice President of Corporate Planning; and General Manager for Worldwide Exploration Engineering, Planning and International Negotiations.
Brad Holly leaving Anadarko
Brad Holly, formerly EVP, U.S. Onshore Exploration and Production, is leaving the company to pursue other interests, Anadarko said in the press release. Holly was appointed by Colorado Governor John Hickenlooper to the Task Force on State and Local Regulation of Oil and Gas Operations in 2014.
Emerging LNG business, deepwater exploration to source longer-term value
Walker said Anadarko would continue “to build longer-term value through our emerging LNG business and selective deepwater exploration.” Walker said Anadarko expects the operating environment for the oil and gas industry to remain volatile.
As of year-end 2016, Anadarko had 1.72 billion barrels-equivalent of proved reserves.
Source: Anadarko 2Q 2017 Presentation
