Shelf Drilling has announced a revamped roster of executives and board appointments, with Greg O’Brien set to step up to chief executive later this year.
Shelf announced a “transition plan” on Wednesday which will see David Mullen will step down from the role of CEO and assume that of Executive Chairman.
At the same time, Executive Vice President & Chief Financial Officer Greg O’Brien will be appointed as CEO.
Ernie Danner will also step down as chairman of the board but will continue to serve as lead independent director.
A search process is already underway to identify a suitable candidate to replace Mr O’Brien as CFO, the company noted.
Headquartered in Dubai, Shelf manages a fleet of 36 jack-up rigs across southeast Asia, India, West Africa, the North Sea and the Middle East, while its structure includes a North Sea subsidiary listed in Oslo (OSE:SDNS).
The firm acquired five additional units in 2022 after Noble Drilling offloaded rigs in a bid to address competition concerns as a result of its takeover of rival Maersk Drilling.
Mr Mullen said: “I would like to thank all our stakeholders for their support of Shelf Drilling since company inception. I am very proud of what we have achieved and look forward to working with Greg and the management team to ensure a successful transition.
“I would also like to thank Ernie for his leadership on the Board. In my role as Executive Chairman, I look forward to collaborating with him and the Board to continue driving Shelf Drilling’s success, capitalizing on the improving market, and further enhancing value for our investors.”
Mr O’Brien added: “I would like to thank the Board of Directors for their confidence in me and support of this transition. David’s outstanding vision and leadership has set a high standard and established a solid foundation for the Company. The proven track record and continuity of the Shelf Drilling management team is truly unique in our industry, and I look forward to leading this great team.
“Moving forward, we will remain focused on improving our already best-in-class operating platform and further strengthening our relationships with employees, customers, investors, and all other stakeholders.”
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