Brookside Energy Ltd (ASX:BRK, OTC:RDFEF) has introduced Shane Gray as the chief financial officer (CFO) for both Brookside Energy and its subsidiary, Black Mesa Energy, LLC, located in Oklahoma.
Black Mesa is a mid-continent operator, which identifies opportunities and executes development for Brookside.
Both Brookside and Mesa are focused on opportunities in the Anadarko Basin in Oklahoma, which is recognised as a heavyweight among United States shale regions in terms of oil and natural gas production.
The basin has a long history of oil and gas production with current production estimated to be in the order of 600,000 barrels of oil equivalent per day.
The highly accomplished Gray brings a wealth of experience in the upstream oil and gas industry and his skillset will be invaluable for BRK’s goal of acquiring and developing oil and gas assets and the leasing and development of acreage opportunities.
Gray will start in the position later this month and will report to managing director David Prentice.
“We are thrilled to welcome Shane to our executive team at this exciting time for the company,” Prentice said.
“Brookside’s strategic acreage position in the Woodford 'Oil Window' within the highly sought-after southern SCOOP area of the Anadarko Basin, combined with our existing production, strong cash flow, liquid-rich reserve base, and robust balance sheet, provide a fantastic foundation for growth.
“Shane’s comprehensive skillset and experience will be essential as the company enters this next stage of monetising its asset base and maintaining its focus on generating value for its shareholders.”
Driving performance
Brookside will rely on Gray’s ability to drive performance and deliver tangible outcomes in areas such as organisational process enhancement, team development and operational support.
He is recognised as a results-oriented leader and has extensive expertise in working with private equity-backed enterprises, including his most recent role with El Toro Resources, a portfolio company of Wexford Capital.
Gray, who is a member of the Council of Petroleum Accountants Societies (COPAS), also has a substantial background in managing mergers and acquisitions specific to the oil and gas sector, as well as preparing companies for initial public offerings.
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