Industry

Kerogen MD joins Cuadrilla boards

Senior figures from Cuadrilla’s backers in Australia and Hong Kong have been appointed to the company’s boards.

Julian Ball, managing director of Kerogen Capital, becomes a director of 10 Cuadrilla subsidiaries.

Kerogen, a private equity fund manager based in Hong Kong, holds 65% of shares in Cuadrilla’s owner, the Australian mining group, AJ Lucas.

Mr Ball, an investment banker, is responsible for Kerogen’s investment and portfolio management. He previously worked for JP Morgan Chase and EY.

This week, he became a director of Cuadrilla Resources Limited, as well as Cuadrilla Gainsborough, North and South Cleveland, Elswick and Elswick No. 2, Bowland, Weald, Balcombe and Well Services Limited. The other director of each of these companies is Francis Egan, Cuadrilla’s chief executive.

Cuadrilla’s holding company, Cuadrilla Resources Holdings Limited, has appointed Andrew Purcell, the new chairman of AJ Lucas, as a director.

AJ Lucas took control of Cuadrilla last year when it bought the 45% share held by Riverstone, the New York-based private equity fund manager.

Mr Purcell is an engineer and investment banker. He replaces the previous AJ Lucas chairman, Phillip Arnall, who has retired.

Other directors of Cuadrilla Resources Holdings Limited are: Ivor Orchard (a founder of Kerogen), Francis Egan and Rebecca Henworth.

8 replies »

  1. Cuadrilla Bowland certainly need help. They haven’t even got their emergency contact details correct at the PNR site entrance. All that gas built up during the now out of permission extended well pressure testing has to go somewhere sometime!

  2. Interesting but a “dubious headline”
    Hardly accurate!
    More like MONEY OLYMPICS
    How do you make a small fortune?
    START WITH A LARGE ONE.
    Definitely with someone else’s gullible investments.

  3. This is not good news . The enemy may not be at the gates any more but this means he is hovering still . They need to recoup some of the millions they have spent of Shareholders money ! So Ime concerned this appointment flags up a new approach and re branding ! That slogan putting Lancashire first should instead read “ Polluting Lancashire first “ !

    • Nonsense.

      Boards of companies change on a regular basis, and equity fund companies who invest in individual companies routinely place new individuals on their boards.

      It would be the exception if that did not happen. This is the routine. Not that exciting, but nothing else for the antis to be excited about, so it has to do!

      • Certainly not exciting, just another executive moving around to bolster pension funds, supplied by shareholder foolishness!

        Benefits hardly any one!

        • Except, Michael, it could be that the Kerogen people are still paid by Kerogen and simply expand their responsibilities! Even less exciting, but benefits Kerogen reference oversight. Pleasing for shareholders.

  4. Well, Peter, it was there before Cuadrilla, sitting under your house. It will be there after Cuadrilla sitting under your house.

    Good luck with releasing your capital without removal of “all that gas”! (And selenium. Oh, forgot, that was an anti fantasy.)

  5. Who owns who, and who owns the cost of the clean up process ?
    What a shambles Cant drilla are !
    Heaven help you if youve invested in this Ponsi scheme !

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