Erin Energy Corporation has announced changes within its management structure in response to recent drilling and production successes, and to support the Company’s growth strategy.
“Segun’s leadership and knowledge of the business and region have proved exceptionally valuable to our company and I am very pleased he will now serve us as Chief Operating Officer,” the company said in a statement.
Segun Omidele, Senior Vice President, Exploration and Production, has been appointed Chief Operating Officer effective immediately. Mr. Omidele has been with Erin Energy since 2011 and recently led the Company’s technical team in its successful deepwater drilling and completion campaign of the Oyo-7 and Oyo-8 wells, offshore Nigeria.
“Segun’s leadership and knowledge of the business and region have proved exceptionally valuable to our company and I am very pleased he will now serve us as Chief Operating Officer,” said Chairman and Chief Executive Officer Kase Lawal.
These successes make Erin Energy one of only two independent exploration and production companies to successfully operate, drill, complete and produce oil and gas in deepwater, West Africa. Mr. Omidele has over 35 years of experience in the oil and gas industry, including 28 years with Shell Oil companies in Nigeria, the U.K. and the U.S.
Daniel Ogbonna who was previously with CAMAC International Corporation (CI), where he has served as Executive Vice President and Chief Strategy Officer since 2010 and led CI’s business development and M&A activities has been appointed Senior Vice President and Chief Financial Officer. At CI, Mr. Ogbonna was responsible for strategic planning, financial forecasting, acquisition analysis, and securing funding for CI and its subsidiaries’ projects.
Mr. Ogbonna has extensive experience working with financial institutions and brings an acute understanding of Erin Energy’s business, the countries in which the Company operates, and the business climate in Africa.
Prior to his role at CI, Mr. Ogbonna held roles at Limited Brands, Deloitte Consulting, and JP Morgan Securities. Mr. Ogbonna holds an MBA from Harvard Business School and a MS in Mechanical Engineering from the University of Michigan.
Christopher Hearne has resigned as SVP and CFO effective September 9, 2015. Mr. Hearne has agreed to work with Erin Energy as a consultant to assist with the transition period.
Chris du Toit has been named Vice President, Corporate Finance and Country Manager for South Africa. Mr. du Toit has been with the Company since 2014 and has successfully led corporate finance efforts in Africa following Erin Energy’s listing on the Johannesburg Stock Exchange last year. Mr. du Toit will be responsible for the Company’s corporate finance efforts in Europe, Middle East, and Africa. Mr. du Toit has over 10 years of investment banking experience in mergers, acquisitions, divestitures, capital-raising, and corporate advisory in the oil and gas industry. Prior to joining Erin Energy, he was Vice President in Macquarie Capital’s resources team and was responsible for oil and gas advisory and equity capital markets in Sub-Saharan Africa.
Christopher Heath who has been with the Company since 2013 and has served in corporate finance and investor relations roles and will now be responsible for Erin Energy’s corporate finance efforts in North America has been named Vice President, Corporate Finance.
Heath has 10 years of corporate finance experience, including merger and acquisition transactions, 7 years of investment banking experience in the oil and gas industry, and has advised on numerous capital markets transactions. Prior to joining Erin Energy, he was Assistant Vice President of Finance at Magnum Hunter Resources where he led investor relations for their 40 drilling partnerships.
“We wish Chris all of the best in his future pursuits and we are excited to have Daniel join as CFO. Daniel’s experience and familiarity with our business and the continent of Africa, along with his track record and capital markets experience, will be a valuable addition to our team. With his leadership and a strong finance team in place, we are well positioned to continue Erin Energy’s growth,” Lawal concluded.
In Kenya the company holds various licences and the single largest acreage by any single explorer. Erin was awarded 4 Production Sharing Contracts in the Lamu Basin of Kenya for a combined acreage of 36,913 km2. Block L1B is onshore, block L16 is along the coast and is partly onshore and partly offshore in shallow water. Blocks L27 and L28 are located offshore in the ultradeep water of the Indian Ocean.