Print 
Greenfields Petroleum reported that the founding members of Greenfields, Richard E. MacDougal and Alex T. Warmath are retiring from the board of directors of the Company.
The board of directors of Greenfields has appointed two new members to fill the vacancies, Geir Sagemo and David Fransen, both affiliated with the parent company of Greenfields’ senior lender and major shareholder, Vitol Energy. Vitol holds approximately 49.1% of the issued and outstanding common shares of Greenfields.
Mr. Sagemo is a member of the finance and investment group at Vitol Group. Prior to joining Vitol in 2007, Mr. Sagemo spent 13 years in the energy teams of various investment banks, including Dredner Kleinwort Benson and JPMorgan. Mr Sagemo is a board member of New Age (Africa Global Energy) Ltd. He holds a B.Sc. in Economics from the Wharton School.
Mr. Fransen has served as the Managing Director of Vitol SA Geneva since 2002 and is a member of the board of directors of Vitol Group. He has a wide range of experience within the Vitol Group, from gasoline trading and various management positions to the creation of Vitol’s central management information system. Prior to joining Vitol in 1986, Mr. Fransen was with British Petroleum. He holds a BSC (Hons.) in Mathematics and Computer Science from Royal Holloway College, London.
More People News
ExxonMobil Brings On New VP / Treasurer
ExxonMobil reported that Jim Chapman has been appointed vice president, Tax and Treasurer, effective November 28, 2022. Chapman replaces Jaime Spellings, who has elected to retire after 31…
Coterra Names Jordan CEO; Dinges Takes Chairman Role
Coterra Energy Inc. reported that the Company's Board of Directors appointed Thomas E. Jorden, its President and Chief Executive Officer, as Chairman of the Board effective January 1,…
Evolution Petroleum Taps New President & CEO
Evolution Petroleum announced that the Board of Directors has selected Kelly Loyd as President and Chief Executive Officer. Mr. Loyd had been serving as Interim CEO since June…
Magnolia Oil & Gas CEO Chazen Steps Down; Cites Health Reasons
Magnolia Oil & Gas Corp. announced that Christopher Stavros, the Company's current Executive Vice President and Chief Financial Officer, has been named President and Chief Executive Officer, and…
Devon Chairman Hager to Retire; Barbara Baumann Named to Top Spot
Devon Energy Corp. reported that the company's board of directors expects to appoint Barbara Baumann as chair of the board, succeeding Dave Hager, who has notified the board…
United States News
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
New E&P Scores Capital; Heading To the MidCon Region
Company Overview 406 Energy, LLC is a newly formed, Houston-based upstream oil & gas development company launched in October 2025 with an initial equity commitment from NGP Natural…
2025 Forecast : Dangerous Time Ahead
This is the time of year when we share a clear view into how we’re thinking about what to expect for drilling and completion activity in 2025. To…
Petrus Resources Ltd. First Quarter 2023 Results
Petrus Resources Ltd. announced first quarter 2023 results. Highlights Higher production – Production was up 54% from 7,379 boe/d(1) in the first quarter of 2022 to 11,385 boe/d…