First Reserve Expands Network Of Senior Advisors

Program complements First Reserve's global energy value chain expertise

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Apr 04, 2019, 08:00 ET

STAMFORD, Conn. and HOUSTON and LONDON, April 4, 2019 /PRNewswire/ -- First Reserve, a leading global private equity investment firm exclusively focused on energy, today announced the addition of two experienced energy executives to its Senior Advisor program, which has been formally active since 2013. First Reserve's Senior Advisor network is comprised of highly respected individuals who possess deep experience and relationships in the global energy industry.

The Senior Advisors are independent professionals that work with First Reserve and our portfolio companies on a non-exclusive basis, providing perspectives and direction often at the Board level. In addition, the Senior Advisors originate new investment opportunities, advise on transactions, contribute to developing sector insights, and provide operational and energy industry-specific expertise, all leveraging a broad base of key relationships. First Reserve believes its association with the Senior Advisors enhances our ability to create value, serving both our investors and our portfolio companies by optimizing opportunities around the world. While not employees of the firm, these professionals have a strong and strategic professional connection with First Reserve.

The two newest members of the program include:

Barbara Baumann, who has extensive experience throughout the energy value chain, as well as driving ESG initiatives. Currently, Ms. Baumann serves as Founder and President of Cross Creek Energy Corporation, an energy investor and a strategic consultant to firms with assets in the energy exploration & production, refining, and logistics businesses. Prior to holding that position, she worked for Amoco Corporation and then its successor, BP Corporation, for 18 years, holding various operating and financial positions including leading one of Amoco's six upstream business units in North America and as CFO of its environmental subsidiary. Ms. Baumann is a director of Devon Energy Corporation and Buckeye Partners, LP and is an independent trustee of the Putnam Mutual Funds. She is active in non-profits in her resident state of Colorado and chairs the Board of Trustees of Mount Holyoke College, her alma mater. Ms. Baumann also has an MBA from the Wharton School of the University of Pennsylvania.

Paul Wood, a former First Reserve portfolio company CEO with broad experience in the downstream services industry. Mr. Wood previously served as Chief Executive Officer and Chairman of the Board at Brand Energy & Infrastructure Services ("Brand") for 12 years, prior to its combination in 2017 with Safway to form Brand/Safway. Brand was a portfolio company of First Reserve Funds X and XI from 2007-2013. Prior to Brand, he held a variety of management roles at General Electric and Textron Lycoming Corporation from 1988-2004. He is also a Director of Combat Marine Outdoors – a charitable organization supporting wounded veterans. Mr. Wood holds a B.S. and M.S. in Engineering, both from The Ohio State University.

Ms. Baumann and Mr. Wood join five other First Reserve Senior Advisors in the program:

Gary Buchler, who joined the program in 2018 and has broad experience in the midstream and midstream-related equipment and services industries. Mr. Buchler most recently served as the Chief Operating Officer of the Gas Pipeline Business Unit for Kinder Morgan after spending approximately 40 years with the company in various roles.

Gary Halverson, who joined the program in 2016 and has extensive experience in the oil and gas industry, particularly in manufacturing, equipment and oilfield and general energy services. Mr. Halverson most recently served as Senior Vice President of Cameron International Corporation and Group President of Drilling and Production Systems after spending 35 years with Cameron in various management roles both in the United States and overseas.

Steve Mueller, who joined the program in 2016 and has extensive operational experience in the U.S. oil and natural gas industries. Mr. Mueller spent 8 years with Southwestern Energy in various management roles including Chairman of the Board, President and CEO, and President and COO, after an over 30-year career in oil and gas.

Tim Probert, who joined the program in 2014 and has broad experience in the global upstream equipment and services industry. Mr. Probert served most recently as Strategic Advisor to the CEO of Halliburton after an 11-year career with the company. Prior to Halliburton, he spent 27 years with various operation units of Baker Hughes Incorporated during which time he was President of Baker Hughes Inteq.

John Yearwood, who joined the program in 2013 and has deep background in energy equipment and services as well as global E&P. Most recently, Mr. Yearwood served as CEO and COO of Smith International Inc., a Fortune 500 company that merged with oilfield services major Schlumberger. Before joining Smith, he spent 27 years with Schlumberger in numerous operations management and staff positions around the globe.

Alex Krueger, President & CEO of First Reserve, commented, "I have always believed that what makes First Reserve a strong energy investor is the combination of our internal expertise with a robust global network of experienced industry participants and management teams. The Senior Advisor program is, in my view, a long-term example of our ability to leverage these partnerships for the benefit of our portfolio and our investors. First Reserve welcomes Barbara and Paul to the network and looks forward to continuing to work together to drive value creation throughout the energy value chain."

About First Reserve

First Reserve is a leading global private equity investment firm exclusively focused on energy. With over 35 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $32 billion of aggregate capital since inception. First Reserve has completed over 650 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the Firm's history. Its portfolio companies have operated on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services, and associated infrastructure. Please visit www.firstreserve.com for further information.

For First Reserve media inquiries, please contact:

Jonathan Keehner / Julie Oakes
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
Email: [email protected]

SOURCE First Reserve