Australian Junior Looks to Build a Titan in Face of Downturn
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.
“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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