Energy XXI Gulf Coast (EGC) has appointed Douglas E. Brooks as chief executive officer and president effective 17 April 2017. The EGC board concurrently increased the size of the board from six to seven directors and named Brooks to fill the newly-created directorship.
Brooks has over 34 years of experience in the energy industry. Most recently he served as the chief executive officer for Yates Petroleum Corp., a privately-owned exploration and production company, from April 2015 until Yates’ merger with EOG Resources in October 2016. Brooks previously served as chief executive officer of Aurora Oil & Gas Ltd. from October 2012-June 2014, and as a senior vice president at Forest Oil Corp. from April 2012-October 2012. In addition, he spent 24 years with Marathon Oil Co. in roles of increasing responsibility, lastly as the director of upstream mergers and acquisitions and business development for the Americas. He has also built two private equity-sponsored firms focused on unconventional resource projects in the western US.
Brooks currently serves on the board of directors of Chaparral Energy and has served as a board member for Aurora Oil & Gas Ltd., Magdalena Energy Co., Yates Petroleum and the Houston Producers’ Forum. Additionally, he is currently an advisor for Hart Energy’s A&D (acquisition and divestiture) Watch, a global energy research publication. Brooks holds a bachelor of science degree in business management from the University of Wyoming – Casper and a masters of business administration, finance from Our Lady of the Lake University in Texas.
“[Brooks’] impeccable reputation, extensive industry experience and clear track record of value creation as chief executive at other exploration and production companies make him the perfect fit for our company,” said Michael S. Reddin, chairman of the board, EGC. “His skills are also highly complementary to those of Scott Heck, our chief operating officer, who has an extensive offshore, engineering and operations background.”
“Energy XXI is at an inflection point in its history since it has emerged from restructuring with a strong balance sheet that provides maximum flexibility for future value creation,” said Brooks. “I look forward to working with our board, senior management, our technical and financial teams, and our stockholders as we plan and execute our new path forward.”