(Source: Hart Energy)
SM Energy Co. President and CEO Javan (Jay) D. Ottoson is set to retire by year-end, said the Denver-based company which has tapped COO Herbert S. Vogel as Ottoson’s successor.
Ottoson, who has been with SM Energy for 14 years, led the company through its transformation into a pure-play Texas company through multiple divestitures since taking the reins as CEO in 2015.
Currently, SM Energy, which history dates back over a century, holds about 82,000 net acres in the Midland Basin and 159,000 net acres in South Texas within the Maverick Basin, according to a recent investor presentation.
“Through Jay’s leadership, SM Energy transformed itself into a premier operator in the Permian and Maverick Basins in Texas,” SM Energy Chairman William Sullivan said in a statement on July 23. “I would like to thank Jay for his commitment to SM Energy, his leadership, guidance, and steady hand during a highly volatile time in our industry.”
Vogel, who currently serves as executive vice president and COO, was appointed on July 23 to the position of president. The SM Energy board of directors also intends to promote Vogel to CEO effective upon Ottoson’s departure, according to the company release.
After previously serving as executive vice president of operations, Vogel was promoted to COO in June 2019 following his leadership through SM Energy’s transition to a pure-play Texas company.
Vogel began his career as a reservoir engineer with ARCO Alaska Inc. He later went on to rise through the ranks of BP Plc, which had acquired ARCO in 2000. In 2012, Vogel joined SM Energy following his retirement from BP after more than 30 years with the British oil major.
In a statement commenting on Vogel appointment, Ottoson said: “Herb is an integral part of leadership and is an energetic and highly capable executive. I am confident he will serve our company well through challenging and better times.”
Similar to Vogel, Ottoson also started his career working for ARCO, but as a summer intern in the company’s Houston refinery. In 1982, he moved to Alaska with ARCO and spent the next 16 years working in jobs with progressively more responsibility in the company’s oil and gas operations. He would eventually leave ARCO to work for Energy Partners Ltd. in New Orleans before joining SM Energy as its COO in 2006.
Ottoson was appointed as SM Energy president in October 2012 and CEO in February 2015.
According to the company release on July 23, he will remain a member of the SM Energy board until the company’s next annual meeting in May 2021.
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