EcoStim Energy Solutions has assembled a team of industry professionals with over 150 years of combined experience in oilfield service, including key executives with a particular emphasis on the hydraulic fracturing business.
Bjarte Bruheim - Chairman
Mr. Bruheim has over 30 years of international management experience and is also a serial entrepreneur. He has spent the majority of his career introducing technologies that reduce risk and improve efficiencies in the oil and gas business. Such companies include oilfield services companies as PGS (OSX: PGS) which he co-founded in 1991, EMGS (OSX:EMGS) where he was an early venture investor and Executive Chairman in 2004, Geo-Texture Technologies which he co-founded in 2005 and ODIM ASA, which he worked to turn around and later sell. PGS and EMGS are leaders in their industry and remain public companies while ODIM was sold to Rolls Royce (~$900 million), and Geo-Texture was sold to EcoStim Energy Solutions. In addition to the oilfield service companies, Mr. Bruheim was a co-founder of Spinnaker Exploration Company using PGS technology, an early venture investor in Spring Energy using EMGS technology and co-founder of a small E&P company operating in the Eagle Ford field in Texas using Geo-Texture technology. Spinnaker was later sold to Statoil for ~$2.6 billion, Spring Energy was sold to Tullow Oil for ~$600 million and the small E&P Company in the Eagle Ford play was sold to Chesapeake for an undisclosed amount. He started his career as an executive with Schlumberger after graduating with a master’s degree in Physics from the Norwegian University of Science & Technology in Trondheim, Norway. Mr. Bruheim brings worldwide business and operational experience to the Company.
J. Chris Boswell - Director
With more than 28 years of executive management experience in the oilfield-services industry, Mr. Boswell has helped grow numerous successful businesses. As the CFO of Petroleum Geo-Services, he helped expand PGS' operations into new international markets and secured over $3 billion in capital to facilitate the company’s rapid growth—including greater than 30 percent market share in the global marine seismic market while growing revenues to over $1 billion. He also completed over $1 billion in mergers and acquisitions and listed the Company’s shares on the New York Stock Exchange.
Following PGS, he co-founded Particle Drilling Technologies and completed a reverse merger IPO and secured over $35 million in capital to test the Company’s patented technology. During his term as the Co-founder and CFO, he successfully listed the Company’s shares on the NASDAQ Stock Exchange and generated a research following with such names as RBC Capital Markets & Morgan Keegan.
Following Particle Drilling Technologies, Mr. Boswell took on a turnaround project at a Kleiner Perkins portfolio company, Neos Geo-Solutions. During his term there as CFO, he helped recruit a new CEO and secure $60 million in secondary financing, which included investors such as Bill Gates. He also worked closely with Carlos Fernandez to negotiate a major contract with ExxonMobil in Argentina, a key development in the Company’s successful turnaround.
Mr. Boswell is a 1985 graduate of the University of Texas at Austin.
Don Stoltz - Director
Mr. Stoltz is Partner and head of trading of Bienville Capital Management. Mr. Stoltz has over 16 years of experience in trading derivatives, portfolio risk management, operations and investing in public and private companies. Mr. Stoltz began his career at JPMorgan Chase in August, 1999, where he worked in diverse roles such as equity derivative trading, institutional sales, interest rate swaps and foreign exchange trading until February, 2009. Following JPMorgan, Mr. Stoltz was a proprietary trader at First New York Securities from February until May, 2009, when he joined Bienville. Mr. Stoltz’s is also a board member of TGLT SA. Mr. Stoltz is chairman of the investment committee at Temple B’nai Jeshurun in Short Hills, NJ. He graduated with a BS in management from Pennsylvania State University in 1999.
Christopher Krummel - Director
Mr. Krummel joined our Board in January, 2014. Chris Krummel has served as the Vice President of Finance and Chief Accounting Officer at McDermott International, Inc. since October, 2016. Prior to joining McDermott, Mr. Krummel was a consultant for American Industrial Partners, and served as the Chief Financial Officer of EnTrans International, LLC. Before joining EnTrans, Mr. Krummel was Chief Accounting Officer, Vice President and Corporate Controller, and Vice President of Finance of Cameron International Corporation. He has also served as the Chief Financial Officer of Enventure Global Technology LLC and as Vice President and Financial Controller at Petroleum Geo-Services ASA. Mr. Krummel has also held various finance leadership positions at Keystone International, Inc. and Price Waterhouse LLP. He holds a Bachelor of Science in Business Administration from Creighton University and an MBA in finance and strategic management from The Wharton School at the University of Pennsylvania.
David Proman - Director
David Proman joined Fir Tree in 2010 and is a Managing Director on the Investment team. Mr. Proman focuses on the funds’ distressed credit investment strategies, most notably co-managing the firm’s structured mortgage credit and energy restructuring initiatives. Mr. Proman has 13 years of investment experience in structured and corporate debt investing. Prior to joining Fir Tree, Mr. Proman helped manage the corporate and structured mortgage credit investments at Kore Advisors, a fixed income investment fund. Mr. Proman received a B.A in Economics from the University of Virginia.
Andrew Teno - Director
Andrew Teno joined Fir Tree in 2011 and is a Director on the Investment team. Mr. Teno is responsible for the analysis and modeling of investment opportunities. Prior to joining Fir Tree, Mr. Teno was an Associate at Crestview Partners, a private equity firm. At Crestview, Mr. Teno focused on analyzing leveraged buyouts and distressed investments. Before Crestview, Mr. Teno was an analyst at Gleacher Partners in their Mergers and Acquisitions group. Mr. Teno received a B.S. in Economics, magna cum laude, from The Wharton School of the University of Pennsylvania.
Andrew Colvin - Director
Andrew Colvin joined Fir Tree in 2016 and is an Associate on the Investment team. Mr. Colvin is responsible for the analysis and modeling of investment opportunities and focuses on distressed credit investments. Prior to joining Fir Tree, Mr. Colvin was an analyst at fixed income investment firm KLS Diversified Asset Management and an investment banker at Peter J. Solomon Company. Mr. Colvin received a J.D. degree from the Columbia School of Law, an M.B.A. in Finance from Columbia Business School and a B.A. in History from Columbia University.