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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
Diversified Energy Co. Plc has named Teresa Odom vice president of ESG and sustainability. Read more here.
Tullow Oil Plc has appointed Phuthuma Nhleko independent nonexecutive director and chairman-designate. Nhleko will take over as chairman of Tullow for Dorothy Thompson when she steps down by the end of the year.
NOV Inc. has appointed Robert Welborn to the board of directors. Welborn is an executive at Facebook Inc., where he serves as the head of programs data science within the company’s business group. Read more here.
COMPANIES
Pacific Oil & Gas Ltd. will rebrand its operations to become Pacific Energy Corp. Ltd. Pacific Energy, which is part of the Singapore-based RGE group of companies, is an independent energy resources development company focused on helping North American and growing Asian economies meet their increasing energy requirements. The company has an established presence in China and a growing presence in Canada with its subsidiary Pacific Canbriam Energy.
ProFrac Holdings LLC will purchase FTS International Inc. in an all-cash transaction, creating one of the largest completions-focused service companies in the U.S. oil and gas industry. The combination of FTS and ProFrac will provide improved through-cycle resiliency via enhanced expertise, technology and scale. FTS was forced to voluntarily file for bankruptcy protection after taking a hit from the pullback of U.S. shale activity due to the COVID-19 pandemic, but it is ready to take advantage of future opportunities after restructuring by November 2020. Read more here.
Dawson Geophysical Co. and Wilks Brothers LLC have entered into a merger agreement for Wilks to acquire all of Dawson’s outstanding common shares for $2.34 per share in cash. Subject to the closing of the offer, Wilks will acquire any Dawson shares that are not tendered into the offer at the same price per share through a second-step merger, which will be completed as soon as practicable following the closing of the offer.
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