Pengrowth Corporation, administrator of Pengrowth Energy Trust, has named Derek W. Evans as president and chief operating officer (COO) and director of the company, effective May 25, 2009. In this new role, Evans will report to and will work closely with, James S. Kinnear, chairman and chief executive officer, in developing its strategic direction and will have broad tasks for the operating and business development activities.
The appointment follows a wide search process carried out by the corporate governance committee of the board of directors through a national independent executive search firm.
“We are very pleased to welcome Derek Evans as a member of the Pengrowth team,” said Kinnear. “The appointment of Evans reflects our commitment to providing the highest quality in Pengrowth’s senior executive ranks to meet the challenges of our increasingly complex business”.
Evans has an experience of more than 27 years in oil and gas exploration and production (E&P) business working through a variety of engineering disciplines culminating with his roles as senior vice president, operations at Renaissance Energy Ltd. and, most recently, he served as president and chief executive officer of Focus Energy Trust. All through his six years he oversaw major value creation on behalf of its unitholders.
Evans has a deep understanding of the operation and development of both conventional and unconventional reserves. He is also closely recognizable with the trust structure as well as the broader E&P sector. Besides to his operational expertise, Evans is an experienced acquirer of quality growth assets, has a strong understanding of financial markets, and a demonstrated ability to perform upon a variety of financial strategies.
Evans’ broad organization and technical experience will be very valuable as the company seeks to optimize and grow the asset base of the trust to make sure the association’s profitable growth and overall success.