Occidental Petroleum names California Resources Corp leadership team

Posted on 11 July 2014

Occidental Petroleum Corp has announced the leadership team for its subsidiary, California Resources Corp (CRC), and named Todd A. Stevens as President and CEO and William E. Albrecht as Executive Chairman of the Board. CRC will be an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets exclusively in California. “Todd and Bill are eminently qualified to lead CRC,” said Stephen I. Chazen, President and CEO for Occidental Petroleum. “They bring proven leadership abilities and more than 50 years of combined industry experience. Both have played an important part in building and managing our California operations for over 15 years.”

Mr Stevens, a 19-year veteran of Occidental, has served as VP of Corporate Development since August 2012. In this role, he led the company’s growth-focused initiatives, including mergers and acquisitions, land management and worldwide exploration, and has played a key role in the capital allocation process. From 2008 to 2012, Mr Stevens was VP of Acquisition and Corporate Finance and VP of California Operations for Occidental.

Mr Albrecht has been President of Occidental Oil and Gas – Americas and VP of Occidental Petroleum Corp since 2011. With more than 35 years of industry experience, Mr Albrecht was responsible for Occidental’s oil and gas operations in North and South America, including its HSE, government relations and social responsibility activities. He joined the company in 2007 as VP of California Operations.

Occidental will continue to plan for the separation of the businesses. The spinoff of CRC from Occidental is subject to market conditions, customary regulatory approvals, receipt of an affirmative IRS ruling, execution of separation and intercompany agreements, acceptance of the new company’s stock for listing and final approval by the board of directors.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 01 August 2014

    Fugro’s real-time helideck monitoring aids operational planning, safety

    Fugro has developed and delivered a new fully integrated helideck monitoring system to Diamond Offshore’s Ocean Guardian in the North Sea. Severe...

  • 31 July 2014

    Eni discovers gas and condensates offshore Gabon

    Eni has made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, approximately 13 km offshore Gabon and 50 km from the capital city Libreville...

  • 31 July 2014

    Blue Ocean Technologies: Subsea well intervention completed in 6,700- ft record depth

    Blue Ocean Technologies has set multiple records in subsea well intervention by intervening in, and subsequently plugging and abandoning, a production gas...

  • 30 July 2014

    Fugro’s DeepData pod provides data for deepwater riser monitoring

    Fugro has delivered a motion dataset from the BOP stack and lower riser of two deepwater wells in the Barents Sea using its DeepData pods. The DeepData pods...

  • 28 July 2014

    SDI completes 500th MagTraC MWD Ranging project

    Scientific Drilling International (SDI) has completed the 500th MagTraC MWD Ranging project. MagTraC was introduced in 1998 to target challenging applications...

  • Read more news