Deloitte's new energy lead, a $7.4B deal, and more things to know this week
Editor's note: It's a new week — start it strong with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a Houston energy executive to know, and more.
Incoming: Deloitte names new head of energy, chemicals practice
Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. She takes over the role from Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.
"I am fortunate to have worked in the energy and chemicals industry for most of my career, and I'm honored to continue working with companies that are playing a pivotal role in powering progress and purpose," Thomas says in a news release. "Our industry is at the epicenter of the energy transition that can fuel tremendous potential for society, and I'm excited to be leading during this important and transformational time."
Last year, Chronis announced her retirement from Deloitte, and the company named Melinda Yee as the incoming Houston managing partner at Deloitte, a role Chronis held in addition to the title of vice chair and US energy and chemicals leader. Chronis is slated to retire in June 2024, and Yee's new role became effective this month. Read more.
Events not to miss
Put these Houston-area energy-related events on your calendar.
- Energy Underground's January meeting is on January 18 at noon at the Esperson Building. Register.
- The Houston Oil and Gas Executive Leadership Summit is an meeting of executives, policymakers, academics, and other professionals with a particular interest related to energy. The event is January 25 at the DoubleTree by Hilton Hotel Houston. Register.
- Future of Energy Summit is Tuesday, February 6, at AC Hotel by Marriott Houston Downtown. Register.
- The De Lange Conference, taking place February 9 and 10 at Rice University's Baker Institute for Public Policy, is centered around the theme “Brave New Worlds: Who Decides? Research, Risk and Responsibility” this year. Register.
Really big deal: Southwestern Energy to combine with Chesapeake in $7.4B deal
Chesapeake Energy and Southwestern Energy are combining in a $7.4 billion all-stock deal to form one of the biggest natural gas producers in the U.S.
The transaction, valued at $6.69 per share, will create a company that has large scale acreage in the Appalachia region and Haynesville, Louisiana. It has current net production of approximately 7.9 Bcfe/d with more than 5,000 gross locations and 15 years of inventory.
“The world is short energy and demand for our products is growing, both in the U.S. and overseas," Chesapeake CEO Nick Dell’Osso said in a prepared statement Thursday. "We will be positioned to deliver more natural gas at a lower cost, accelerating America’s energy reach and fueling a more affordable, reliable, and lower carbon future." Read more.