Apache Corp. (NYSE: APA) said April 23 that Kregg Olson, executive vice president of corporate reservoir engineering, plans to retire later this year.
Olson, who joined the Houston-based company in 1992, has held his current title since 2009 after being promoted to senior vice president in 2007 and Vice President in 2004. Prior to that, he served as director of technical service for Apache from 1995 through 2003.
Dave Pursell, currently senior vice president of planning and market fundamentals, will take over the corporate reservoir engineering department upon Olson’s retirement, which takes effect Aug. 1.
John J. Christmann IV, Apache's CEO and president, said in a statement: "Kregg’s expertise and leadership have been a tremendous asset to Apache during his 26 years with the company. On behalf of the board and all Apache employees, I want to thank Kregg for his many contributions and wish him all the best in retirement."
Pursell recently joined Apache in early 2018 from Tudor, Pickering, Holt & Co. (TPH), where he served as managing director of investment banking. Before that, he served as head of macro research and was one of the founders of Pickering Energy Partners Inc. Before TPH, he was director of upstream research at Simmons & Co. International.
Earlier in his career, Pursell worked in various production and reservoir engineering assignments at S.A. Holditch and Associates, which is now part of Schlumberger Ltd. (NYSE: SLB). He began his career at ARCO Alaska in Anchorage with production and operations engineering assignments in South Alaska and the North Slope. He holds a Bachelor of Science and Master of Science in petroleum engineering from Texas A&M University.
Recommended Reading
Analysts: Diamondback-Endeavor Deal Creates New Permian Super Independent
2024-02-12 - The tie-up between Diamondback Energy and Endeavor Energy—two of the Permian’s top oil producers—is expected to create a new “super-independent” E&P with a market value north of $50 billion.
ConocoPhillips CEO Ryan Lance: Upstream M&A Wave ‘Not Done’ Yet
2024-03-19 - Dealmaking in the upstream oil and gas industry totaled $234 billion in 2023. The trend shows no signs of slowing, ConocoPhillips CEO Ryan Lance said at the CERAWeek by S&P Global conference.
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Dallas Fed Energy Survey: Permian Basin Breakeven Costs Moving Up
2024-03-28 - Breakeven costs in America’s hottest oil play continue to rise, but crude producers are still making money, according to the first-quarter Dallas Fed Energy Survey. The situation is more dire for natural gas producers.