Apache’s executive VP to retire. Replacement named

Apache Corporation’s executive vice president of corporate reservoir engineering has decided to retire.

Apache said on Monday that Kregg Olson, executive VP of corporate reservoir engineering, would retire on August 1, 2018.

John J. Christmann IV, Apache’s president and CEO, said: “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.”

Olson has been the executive VP of corporate reservoir engineering since August 2009, having been senior VP of corporate reservoir engineering since September 2007, and vice president since January 2004.

Before that, Olson served as director of technical services from 1995 through 2003, and held positions of increasing responsibility within corporate reservoir engineering since joining the company in 1992. Previously, he was associated with the Grace Petroleum Corporation.

Olson will be succeeded by Dave Pursell, the current senior vice president of planning and market fundamentals.

Before joining Apache in early 2018, Pursell served as managing director of Investment Banking for Tudor, Pickering, Holt & Co. Before that, he served as head of Macro Research and was one of the founders of Pickering Energy Partners. He was also a director of upstream research at Simmons & Company International.

Earlier in his career, he worked in various production and reservoir engineering assignments at S.A. Holditch and Associates, which is now part of Schlumberger.

Pursell began his career at ARCO Alaska in Anchorage with production and operations engineering assignments in southern Alaska and the North Slope.