​Executive changes at Trinidad, Peyto, Cardinal, TransGlobe: This week’s HR news

Image: Joey Podlubny/JWN

Here is a list of human resources highlights as appeared in the Daily Oil Bulletin for the week ending Jan. 12, 2018:

Trinidad cutting jobs, reducing executive salaries

Following a cost structure review, Trinidad Drilling Ltd. is reducing its workforce, mainly in its Calgary head office, as well as rolling back salaries and tightening expense management.

Cost-cutting initiatives include a 15-per-cent reduction in executive salaries and board directors’ fees. Trinidad is currently reviewing operations for additional opportunities to create efficiencies, including a review of under-utilized facilities for further cost savings or potential asset sales.

As part of the cost cutting and restructuring efforts, Randy Hawkings, executive vice-president, U.S. Operations, will step down from his operational position. He will continue to consult with Trinidad in the company’s performance drilling business group with a focus on growth and maximizing returns.

TransGlobe management changes

As part of its succession plan, TransGlobe Energy Corporation has promoted Randy Neely to the role of president, and Edward Ok to the roles of vice-president of finance and chief financial officer.

Neely has served as TransGlobe’s vice-president finance and CFO since joining the company in 2012. Prior to joining TransGlobe, he spent 19 years in executive and financial positions such as CFO at Pearl Exploration and Production Ltd., Zodiac Exploration Inc., and Trident ExplorationCorp.

Ok initially joined the company as deputy finance manager in the Cairo office in 2012, and became the company controller based in Calgary in January 2015. Prior to joining TransGlobe, he was most recently at Zodiac Exploration and has more than 10 years of corporate finance and accounting experience.

Cardinal management changes

Shawn Van Spankeren is joining Cardinal Energy Ltd. as chief financial officer, replacing Doug Smith, who is retiring from the company.

However, Smith will stay on in an advisory role until the end of January 2018 to ensure a smooth transition. He has been with the company since its inception. Van Spankeren, who holds CPA and CMA designations, has 24-plus years of oil and gas industry experience focusing on accounting and finance.

Peyto management changes

Peyto Exploration & Development Corp. is appointing Jean-Paul Lachance to the position of executive vice-president of engineering and chief operating officer. He is currently vice-president of exploration.

Lachance has played a key role in the profitable exploitation and development of the company’s Deep Basin assets since joining Peyto in 2011, said the company. He replaces Scott Robinson, the current COO, who is retiring from that position but who will continue in a part-time role with Peyto as executive vice-president, new ventures.