Erin Energy in managerial changes
- Business & Finance
Erin Energy, formerly known as CAMAC, has announced changes within its management structure.
The company explained in its press release on Friday that the changes were made as a response to recent drilling and production successes, and to support the company’s growth strategy.
Segun Omidele, Senior Vice President, Exploration and Production, has been appointed Chief Operating Officer effective immediately. Omidele has been with Erin Energy since 2011.
Omidele led the company’s technical team in its successful deepwater drilling and completion campaign of the Oyo-7 and Oyo-8 wells, offshore Nigeria. The company in June started production from the Oyo-7 well.
Omidele has over 35 years of experience in the oil and gas industry, including 28 years with Shell Oil companies in Nigeria, the U.K. and the U.S.
Daniel Ogbonna has been appointed Senior Vice President and Chief Financial Officer (SVP and CFO). Ogbonna previously worked with CAMAC International Corporation (CI), where he has served as Executive Vice President and Chief Strategy Officer since 2010 and led CI’s business development and M&A activities. According to Erin Energy, Ogbonna brings an acute understanding of Erin Energy’s business, the countries in which the Company operates, and the business climate in Africa.
Besides new appointments, Christopher Hearne has resigned as SVP and CFO effective September 9, 2015. However, he has agreed to work with Erin Energy as a consultant to assist with the transition period.
Chris du Toit has been named Vice President, Corporate Finance and Country Manager for South Africa. Du Toit has been with the company since 2014. Du Toit will be responsible for the company’s corporate finance efforts in Europe, Middle East, and Africa. The company notes that du Toit has over 10 years of investment banking experience in mergers, acquisitions, divestitures, capital-raising, and corporate advisory in the oil and gas industry. Prior to joining Erin Energy, he was Vice President in Macquarie Capital’s resources team and was responsible for oil and gas advisory and equity capital markets in Sub-Saharan Africa.
Christopher Heath has been named Vice President, Corporate Finance. Heath has been with the company since 2013 and has served in corporate finance and investor relations roles and will now be responsible for Erin Energy’s corporate finance efforts in North America. Prior to joining Erin Energy, Heath was Assistant Vice President of Finance at Magnum Hunter Resources where he led investor relations for their 40 drilling partnerships.
Kase Lawal, Chairman and Chief Executive Officer, said: “Segun’s leadership and knowledge of the business and region have proved exceptionally valuable to our company and I am very pleased he will now serve us as Chief Operating Officer.”
Lawal added: “We wish Chris all of the best in his future pursuits and we are excited to have Daniel join as CFO. Daniel’s experience and familiarity with our business and the continent of Africa, along with his track record and capital markets experience, will be a valuable addition to our team. With his leadership and a strong finance team in place, we are well positioned to continue Erin Energy’s growth.”