Deloitte's new energy lead, a $7.4B deal, and more things to know this week

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Here are three things to know in Houston energy transition news. Photo via Getty Images

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.

Houston-based Southwestern Energy will combine with Oklahoma City-based Chesapeake Energy. Photo via swn.com

Houston energy company to combine with Chesapeake in $7.4B deal

M&A moves

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.

There have been a string of deals in the energy sector, including the nearly $60 billion acquisition of Pioneer Natural Resources by ExxonMobil and a $53 billion deal between Chevron and Hess.

Southwestern shareholders will receive 0.0867 shares of Chesapeake common stock for each outstanding share of Southwestern common stock at closing.

Chesapeake shareholders will own about 60 percent of the combined company, while Southwestern shareholders will own approximately 40 percent.

The combined company will build a facility in Houston to supply lower-cost, lower carbon energy to meet increasing domestic and international liquefied natural gas demand.

The combined company will have a new name, but that has not yet been disclosed.

The boards of both companies have approved the deal, which is expected to close in the second quarter. It still needs approval from Chesapeake and Southwestern shareholders.

Shares of Southwestern, based in Houston, declined more than 3 percent before the market opened, while shares of Chesapeake, based in Oklahoma City, Oklahoma, rose slightly.

ALLY Energy celebrated over 50 honorees at its annual awards event. Photo via LinkedIn

Top Houston energy teams, individuals, and companies honored at annual awards

meet the winnenrs

The brightest stars in Houston's energy community celebrated wins at an annual awards event this week.

ALLY Energy, a company that works with its clients to make the energy industry more equitable, hosted its seventh annual GRIT Awards and Best Energy Workplaces on October 26 — and named its prestigious winners. EnergyCapitalHTX, as well as its sister site InnovationMap, was a media partner for the event.

“Every year, we are astounded at how many impressive, committed people are demonstrating leadership and grit in their work to advance the energy transition and build more diverse, equitable and inclusive workplaces,” ALLY Energy CEO Katie Mehnert says in a news release naming the finalists. “This year is no exception. This is the time to celebrate so many crucial achievements that may otherwise go overlooked in the energy sector and in broader society.”

In addition to naming its winners, ALLY celebrated three Lifetime Achievement Award honorees who have distinguished careers championing change in energy and climate in the private or public sector in the areas of technology, policy, and workforce: John Berger, CEO of Sunnova Energy; Rhonda Morris, vice president and chief human resources officer of Chevron; and Amy Chronis, vice chair, US energy and chemicals leader, and Houston managing partner at Deloitte.

The big winners of 2023 are as follows.

The Professional Award

Alex Loureiro, Scientific Director at EnerGeo Alliance
Crystal McNack, Diversity, Equity, and Inclusion Advisor at Enbridge Inc.
Dani Milling, Gulf of Mexico Environmental Engineer & Mexico HSE Coordinator at Chevron
Katie Zimmerman, Decarbonization Director, Americas at Wood
Mark Klapatch-Mathias, Sustainability Coordinator at the University of Wisconsin-River Falls
Natalie Valentine, Director - Business Performance at Worley
Syed Fahim, Global ESG Lead at SLB
Tane Bates, Regional Operations Manager at Certarus LTD
Ujunwa Ojemeni, Senior Policy Advisor - Energy Transition & Technical Assistance Delivery at E3G - Third Generation Environmentalism

The Executive Award

Cara Hair, SVP of Corporate Services, Chief Legal and Compliance Officer at Helmerich & Payne
Emma Lewis, Senior Vice President USGC Chemicals & Products at Shell
Jeremy Campbell-Wray, Strategic Accounts and Enterprise Growth Market Executive at Baker Hughes
Maggie Seeliger, SVP & Global Head of Strategy, Energy & Resources at Sodexo
Max Chan, Senior Vice President, Corporate Development Officer at Enbridge
Megan Beauregard, Chief Legal Officer, Secretary, and Head of Policy and Regulatory Affairs at Enel North America, Inc.
Sarah Delille, Vice President of US Country Management at Equinor
Whitney Eaton, EVP, People & Sustainability at TGS Energy

The JEDI Award

Jason Limerick, Sustainability Strategy Lead at Woodside Energy
Melina Acevedo, Associate & Partnerships Lead at DE Shaw Renewable Investments

The Entrepreneur Award

Charli Matthews, CEO at Empowering Women in Industry
Mike Francis, Co-Founder and CEO at NanoTech

The ESG & Climate Champion Award

Andrea Hepp, Deal Lead at Shell
Brittney Marshall, Senior Advisor, Climate Strategy and Policy at Woodside Energy
Gabriel Rolland, Vice President, Corporate QHSE at TGS Energy
Sandhya Ganapathy, Chief Executive Officer at EDP Renewables North America

Gritty Girl Award

Deepasha Baral, Student at the University of Petroleum and Energy Studies

Best Affinity Group, Employee Resource Group Award, sponsored by ChampionX

Baker Hughes
ChampionX
Shell
TPI Composites
Women's Energy Network Houston
Wood Mackenzie
Worley

Best Energy Team Award, sponsored by Ovintiv

Advisian Material Handling
Halliburton Labs
NOV Marketing
Syzygy Plasmonics, Rigel Manufacturing & Launch Team

Best Energy Workplaces Award

Aera Energy LLC
Baker Hughes
ChampionX
EDP Renewables North America
Enel
Global Edge Group
Shell
Southwestern Energy
Sunnova Energy International
TGS Energy
Wood
Woodside Energy

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Baker Hughes closes $13B acquisition of gas equipment maker Chart Industries

m&a activity

Houston-based energy technology company Baker Hughes has completed its $13.6 billion acquisition of Chart Industries, a provider of equipment and services for liquefying gases like LNG, hydrogen, nitrogen and oxygen.

Baker Hughes says the deal advances its “strategic vision” to be a leader in energy and industrial technology.

Jim Apostolides, who had previously served as chief infrastructure and performance officer at Baker Hughes, leads the Chart business in his new role as senior vice president. Chart President and CEO Jill Evanko left the company in January to become CEO of Duravant, which makes equipment for food processing, packaging and materials handling.

Publicly traded Chart reported $4.3 billion in revenue for fiscal year 2025. Its customers operate in sectors such as gas infrastructure, nuclear, data centers, carbon capture and storage, space, and geothermal energy.

“Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy,” Lorenzo Simonelli, chairman and CEO of Baker Hughes, said in a news release. “Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders.”

Chart will operate as a new financial reporting segment within Baker Hughes, reflecting what Baker Hughes says is the “scale and strategic importance of its differentiated capabilities in air and gas handling, thermal management, and lifecycle services.”

Baker Hughes announced the Chart deal last July.

“We know Chart well, having worked alongside them on many critical energy infrastructure projects,” Signorelli said last year. “Their products and services are highly complementary to our offerings and strongly aligned with our intent to deliver distinctive and efficient end-to-end lifecycle solutions for our customers across their most critical applications.”

Chart’s website lists offices in Houston, The Woodlands, and Austin, with corporate headquarters in Ball Ground, Georgia. It’s unclear what will happen to those offices.

KBR appoints C-suite duo to lead forthcoming spinoff

Making Moves

In advance of the spinoff of its Mission Technology Solutions unit, Houston-based KBR has made two C-suite hires for the new business.

Michael LaRouche is coming aboard as president and CEO of the spinoff, currently called SpinCo, on Sept. 26. Nicholas Veasey joined as executive vice president and chief financial officer earlier this month, on July 1.

“Michael and Nick bring a highly complementary combination of operational leadership, financial expertise, and mission-driven experience, and together they will accelerate our impact for stakeholders,” Stuart Bradie, chairman, president and CEO of publicly traded KBR, said in a news release.

LaRouche currently is CEO of Serco North America, a Herndon, Virginia-based government services contractor. Veasey most recently was CFO of MAG Aerospace, a Fairfax, Virginia-based defense contractor.

SpinCo, a government services contractor, will launch with more than $5.3 billion in annual revenue and 20,000 employees. KBR’s total headcount is around 36,000. Branding for SpinCo, including a formal name, will be revealed in July.

“SpinCo is positioned as a top-tier provider of differentiated technology solutions, anchored by deep mission expertise, global scale, and a relentless commitment to delivering for our customers,” LaRouche says.

After the spinoff, the slimmed-down KBR will focus on its Sustainable Technology Solutions business, a provider of energy and industrial technology that generated $2.5 billion in revenue in 2025 and is designed to reduce carbon emissions and support energy transition efforts. Bradie will remain chairman, president and CEO of the business.

Both SpinCo and the new KBR will be public companies. The spinoff is scheduled to be completed in January 2027.

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This article first appeared on InnovationMap.com.

Houston PE firm makes latest nuclear industry acquisition

nuclear deal

Houston-based private equity firm Pelican Energy Partners has acquired California-based Veridiam for an undisclosed amount in an effort to further increase the firm’s focus on the nuclear energy sector.

Veridiam is a strategic manufacturer that specializes in the precision fabrication of components and assemblies made from exotic metals or advanced alloys for the nuclear, aerospace, defense, space and medical fields.

Following the acquisition, Veridiam will continue to operate under its existing name and will led by its current management team, including CEO Brian Joyal.

“Joining the Pelican platform accelerates our strategic trajectory," Joyal said in a news release. "With Pelican's support, we will accelerate the modernization and expansion of our manufacturing capabilities to meet unprecedented demand across the nuclear, aerospace, defense, and medical sectors. This partnership also enables us to expand our portfolio of mission-critical products and engineered solutions while maintaining the uncompromising quality, precision, and reliability standards that have defined Veridiam for more than 60 years."

Since 2011, Pelican has raised over $1 billion in committed capital and has realized over 15 investments. Currently, Pelican is investing from its fourth fund, which aims to support and advance companies that provide critical services and products to the nuclear power industry.

In 2024, Pelican raised a $450 million fund to invest in nuclear energy services and equipment companies.

The Veridiam deal comes after Pelican has completed several nuclear acquisitions. The PE firm acquired New Hampshire-based Environmental Alternatives Inc., which provides nuclear decontamination services, in April; it acquired Georgia-based WSI Welding Solution in December, which services the nuclear sector.

"Veridiam sits at the center of our investment thesis and reflects the kind of deal Pelican does best," Mike Scott, managing partner and founder of Pelican Energy Partners, added in the news release. "With the right capital and operating support, we see a clear opportunity to strengthen the business, invest in its capabilities, and create long-term value for customers and shareholders."

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