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Editor's note: This "On the Move" section appears in the new E&P newsletter. This weekly section highlights new hires, appointments, retirements and promotions as well as company news such as new office locations and major M&A deals. Submit your company news to Ariana Hurtado at ahurtado@hartenergy.com. Subscribe to the E&P newsletter here.
PEOPLE
AqualisBraemar LOC Group has named Reuben Segal CEO. Segal is currently co-founder and COO of the company and will replace David Wells when he retires at year-end 2021.
Orbital Energy Group has appointed Nick Grindstaff CFO. Grindstaff will replace Daniel Ford, effective Nov. 16.
ASCO has appointed Peter Guild group head of HSSEQ and Thuy-Tien Le Guen Dang group sustainability and marketing manager.
Southwest Gas Holdings Inc. has named Robert Boughner chairman of the board. Read more here.
COMPANIES
Royal Dutch Shell Plc will scrap its dual share structure and shift its tax residence and head office to Britain from the Netherlands, seeking to keep investors on board as it plans a shift away from oil and gas. The company also expects to drop “Royal Dutch” from its name, becoming Shell Plc. Read more here.
GD Energy Products (GDEP) has opened an international sales facility in Dubai, United Arab Emirates, to increase customer service and support capabilities across the Eastern Hemisphere. Sales, customer service, technical support, field service and operations will operate from the facility located in Dubai’s Jebel Ali Free Zone. Within the 170-sq-m new office space, a training center will provide a home for customer training and product experiences as well as GDEP’s Pump University, a mobile classroom that travels to a customer’s facility and trains employees how to properly maintain pumping equipment.
Maersk Drilling and Noble Corp. will create a combined company with a fleet of 20 floaters and 19 jackup rigs via a primarily all-stock transaction. The combined company will be called Noble Corp., and the combination is expected to generate estimated annual run-rate synergies of $125 million, benefitting from a diverse revenue mix, a robust contract backlog with significant earnings visibility, a solid balance sheet and a strong free cash flow potential. The combined market capitalization of the two companies is estimated at approximately $3.4 billion.
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