EcoStim Energy Solutions has assembled a team of industry professionals with over 150 years of combined experience in oilfield service, including key executives with a particular emphasis on the hydraulic fracturing business.
Brian Stewart - Chairman
Mr. Stewart retired from Devon Energy Corporation in June 2012 after 35 years of service. During a portion of his tenure, he served as Devon’s Chief Engineer responsible for the development and integration of company-wide best practices for horizontal drilling, frac design, and well control. During his last five years at Devon, Mr. Stewart served as the Vice President of Well Engineering for the Offshore Division. Beginning in June 2012 following his retirement from Devon, Mr. Stewart served as President and Chief Executive Officer of U.S. Well Services (“USWS”), a provider of fracturing services in the Appalachian Basin (Marcellus and Utica Shales). Mr. Stewart retired from the day to day operations of USWS on December 31, 2015 but remained on USWS’s Board of Directors until it was recapitalized in February 2017.
Mr. Stewart received a BS degree in Petroleum Engineering from Louisiana State University and a MS degree in Engineering Management from the University of Southwestern Louisiana (now UL-Lafayette).
J. Chris Boswell - Director
With more than 28 years of executive management experience in the oilfield-services industry, Mr. Boswell has helped grow numerous successful businesses. As the CFO of Petroleum Geo-Services, he helped expand PGS' operations into new international markets and secured over $3 billion in capital to facilitate the company’s rapid growth—including greater than 30 percent market share in the global marine seismic market while growing revenues to over $1 billion. He also completed over $1 billion in mergers and acquisitions and listed the Company’s shares on the New York Stock Exchange.
Following PGS, he co-founded Particle Drilling Technologies and completed a reverse merger IPO and secured over $35 million in capital to test the Company’s patented technology. During his term as the Co-founder and CFO, he successfully listed the Company’s shares on the NASDAQ Stock Exchange and generated a research following with such names as RBC Capital Markets & Morgan Keegan.
Following Particle Drilling Technologies, Mr. Boswell took on a turnaround project at a Kleiner Perkins portfolio company, Neos Geo-Solutions. During his term there as CFO, he helped recruit a new CEO and secure $60 million in secondary financing, which included investors such as Bill Gates. He also worked closely with Carlos Fernandez to negotiate a major contract with ExxonMobil in Argentina, a key development in the Company’s successful turnaround.
Mr. Boswell is a 1985 graduate of the University of Texas at Austin.
Bjarte Bruheim - Director
Mr. Bruheim has over 30 years of international management experience and is also a serial entrepreneur. He has spent the majority of his career introducing technologies that reduce risk and improve efficiencies in the oil and gas business. Such companies include oilfield services companies as PGS (OSX: PGS) which he co-founded in 1991, EMGS (OSX:EMGS) where he was an early venture investor and Executive Chairman in 2004, Geo-Texture Technologies which he co-founded in 2005 and ODIM ASA, which he worked to turn around and later sell. PGS and EMGS are leaders in their industry and remain public companies while ODIM was sold to Rolls Royce (~$900 million), and Geo-Texture was sold to EcoStim Energy Solutions. In addition to the oilfield service companies, Mr. Bruheim was a co-founder of Spinnaker Exploration Company using PGS technology, an early venture investor in Spring Energy using EMGS technology and co-founder of a small E&P company operating in the Eagle Ford field in Texas using Geo-Texture technology. Spinnaker was later sold to Statoil for ~$2.6 billion, Spring Energy was sold to Tullow Oil for ~$600 million and the small E&P Company in the Eagle Ford play was sold to Chesapeake for an undisclosed amount. He started his career as an executive with Schlumberger after graduating with a master’s degree in Physics from the Norwegian University of Science & Technology in Trondheim, Norway. Mr. Bruheim brings worldwide business and operational experience to the Company.
Tim Reynolds - Director
Mr. Reynolds serves as Co-CEO of Dakota Midstream, an independent midstream energy company in the Bakken shale formation. Prior to founding Dakota Midstream in July 2014, Mr. Reynolds led the acquisition of Mesa Oil Services, a salt-water disposal operator in the Bakken in April 2014. Previously, Mr. Reynolds worked at Highstar Capital, an infrastructure investment firm from 2008 to March 2014, most recently as Principal and Director of Corporate Affairs. Earlier in his career, Mr. Reynolds worked at the White House, serving first in the National Economic Council from 2002 to 2004, and then in the Office of the Chief of Staff for the President from 2004 to 2006. During his government service, he focused on energy, health care, and Social Security policy formation and implementation.
Mr. Reynolds is a graduate of the University of North Carolina at Chapel Hill (2001), and earned his MBA from the Stanford Graduate School of Business (2008).
Christopher Krummel - Director
Mr. Krummel joined our Board in January, 2014. Chris Krummel has served as the Vice President of Finance and Chief Accounting Officer at McDermott International, Inc. since October, 2016. Prior to joining McDermott, Mr. Krummel was a consultant for American Industrial Partners, and served as the Chief Financial Officer of EnTrans International, LLC. Before joining EnTrans, Mr. Krummel was Chief Accounting Officer, Vice President and Corporate Controller, and Vice President of Finance of Cameron International Corporation. He has also served as the Chief Financial Officer of Enventure Global Technology LLC and as Vice President and Financial Controller at Petroleum Geo-Services ASA. Mr. Krummel has also held various finance leadership positions at Keystone International, Inc. and Price Waterhouse LLP. He holds a Bachelor of Science in Business Administration from Creighton University and an MBA in finance and strategic management from The Wharton School at the University of Pennsylvania.
Todd Snyder - Director
Mr. Snyder is an Executive Vice Chairman of Rothschild & Co., a leading international investment banking and financial advisory firm. Mr. Snyder has also served as a director of Midstates Petroleum Company, Inc. since October 2016. Before joining Rothschild in March 2000, Mr. Snyder was a Managing Director at Peter J. Solomon Company. Prior to joining Peter J. Solomon Company, Mr. Snyder was a Managing Director at KPMG Peat Marwick in the Corporate Recovery group where he was also National Director of the Corporate Recovery Practice for Government Enterprises (regulated and privatizing industries). Prior to his move to investment banking, Mr. Snyder practiced law at Weil, Gotshal & Manges.
Mr. Snyder received a B.A. degree from Wesleyan University and a J.D. from the University of Pennsylvania Law School.
Andrew Teno - Director
Andrew Teno joined Fir Tree in 2011 and is a Director on the Investment team. Mr. Teno is responsible for the analysis and modeling of investment opportunities. Prior to joining Fir Tree, Mr. Teno was an Associate at Crestview Partners, a private equity firm. At Crestview, Mr. Teno focused on analyzing leveraged buyouts and distressed investments. Before Crestview, Mr. Teno was an analyst at Gleacher Partners in their Mergers and Acquisitions group.
Mr. Teno received a B.S. in Economics, magna cum laude, from The Wharton School of the University of Pennsylvania.