People | People-Promotion

Obsidian Names Interim President & CEO; Talks Management Changes

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   |    Friday,December 06,2019

Obsidian Energy Ltd. has announced the appointment of Stephen E. Loukas as Interim President and CEO, effective December 5, 2019.

Mr. Loukas will succeed current Interim President and CEO, Michael J. Faust, who will return to his prior position of Independent Director and take on new responsibilities as Chair of the Commercial Committee.

Additional Executive Announcements

Obsidian Energy is pleased to announce the hiring of Mr. Peter Scott as Senior Vice President and Chief Financial Officer, effective December 2, 2019, replacing David Hendry. Mr. Scott has over 30 years of business and financial experience including more than 20 years as Chief Financial Officer of public and private companies. Mr. Scott has been responsible for a wide variety of functional areas including finance, accounting, tax, budgeting and planning, investor relations, insurance, legal, marketing and general administration. Mr. Scott has been intimately involved in a wide variety of business transactions including debt and equity financings, corporate and property acquisitions and dispositions and initial public offerings. Peter’s most recent public company role was Senior Vice President and Chief Financial Officer of Lightstream Resources Ltd.

Additionally, Obsidian Energy would like to announce the hiring of Mr. Gary Sykes in the position of Vice President, Commercial, replacing Andrew Sweerts, Mr. Sykes has worked in a variety of technical, operational and managerial positions in locations including the UK, Canada, Indonesia, the USA and the Middle East. From 2012 to 2016 Mr. Sykes was President, Qatar and Iraq for ConocoPhillips managing the company’s portfolio of regional assets, and since 2017 has been engaged in supporting a small Private Equity backed oil and gas venture. Mr. Sykes earned an Honors Degree in Mechanical Engineering from Glasgow University in 1990 and a Masters Degree in Petroleum Engineering from Heriot Watt University in Edinburgh in 1991.

Mr. Mark Hawkins has been promoted to Vice President Legal, General Counsel and Corporate Secretary. Mr. Hawkins has served as the corporate secretary since 2015 and was formerly the General Counsel and Corporate Secretary. Prior to joining the Company in March 2015, he was a senior associate with Fasken Martineau DuMoulin LLP in Vancouver from October 2010 to February 2015. Prior thereto, Mr. Hawkins was an associate with McCarthy Tetrault LLP in Calgary from June 2005 to October 2010. Mr. Hawkins has experience in corporate governance, securities and mergers and acquisitions law and has represented clients in a number of significant acquisitions and public offerings.