[Context: On February 5, Cavalcade Midstream, backed by Pearl Energy, Old Ironsides Energy, and NGP, announced the appointment of CFO Tom Russell. Further details and related links are below.]
Cavalcade Midstream Announces Industry Veteran Tom Russell as Chief Financial Officer; Tom Russell, Cavalcade Midstream Chief Financial Officer
SAN ANTONIO–February 05, 2019 –(BUSINESS WIRE)–Cavalcade Midstream (Cavalcade), a full-service midstream company based in San Antonio, announced today that energy industry veteran Tom Russell has joined the executive team as Chief Financial Officer. Financially backed by a total equity commitment of $150 million from Pearl Energy Investments (Pearl), Old Ironsides Energy (Old Ironsides), and NGP, Cavalcade is focused on providing tailored midstream solutions through greenfield development and strategic M&A, initially in the Permian Basin.
Russell comes to Cavalcade with nearly 30 years of experience in the oil and gas industry, primarily in the midstream and refining sectors. Prior to joining Cavalcade, Russell was Vice President of Corporate Development at NuStar Energy, where he participated in approximately $5 billion of transactions, and was responsible for all aspects of the company’s extensive M&A and capital project processes.
Russell played a major role in virtually every acquisition and divestiture for NuStar since Valero Energy acquired Ultramar Diamond Shamrock in 2002. He also oversaw the project development and execution process for all capital projects, ensuring that every financial aspect was properly accounted for and presented. Prior to his work at NuStar, Russell spent 15 years with Valero Energy in various roles including refinery accounting, marketing, and corporate development.
“Hunter, Ross and I have had the privilege of working with Tom for several years, and we are honored that he has joined our team as Chief Financial Officer,” said Rich Reynolds, Cavalcade Chief Executive Officer. “Tom’s extensive experience, depth of knowledge and business acumen, coupled with his unwavering integrity, are exactly what we were looking for in a financial leader. We look forward to working with Tom and growing Cavalcade into a premier midstream provider.”
Russell is a Certified Public Accountant and holds bachelor’s degrees in accounting and finance from West Texas A&M University.
About Cavalcade Midstream
Based in San Antonio, Texas, Cavalcade Midstream is a newly formed, full-service midstream company backed by a total initial equity commitment of $150 million from Pearl Energy Investments, Old Ironsides Energy and NGP. Cavalcade is focused on leveraging strong relationships and a deep understanding of the energy industry to provide tailored midstream solutions that effectively address customer needs, both through greenfield development and strategic M&A.