Australian Junior Looks to Build a Titan in Face of Downturn

Australian Junior Looks to Build a Titan in Face of Downturn
At a time when capital is scarce Australia's Titan Energy has secured an enviable position for a junior oil and gas company following a major funding deal to advance exploration prospects in Texas.

Just a few months following his appointment, oil industry veteran Brad Simmons could have been excused for questioning a decision to come out of retirement to join Australian-based junior Titan Energy Ltd. as CEO.

After taking the position late last year, Simmons, who has more than 30 years of U.S. Gulf Coast drilling and operational experience, watched on as market conditions changed dramatically before he was barely comfortable in the role.

Brad Simmons
Lionel Lee
Brad Simmons Source: Titan Energy

“When I came back into the oil business, oil’s value started at around $100 a barrel,” Simmons recalled in an interview with Rigzone.

It was downhill from that point for oil as it rapidly fell to about half that value, a position it has sat around for much of 2015.


View Full Article


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager, USA
Expertise: Project Management
Location: United States
Assistant Treasurer
Expertise: Accounting|Financial Analyst
Location: Houston, TX
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours