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.


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