Abrado appoints new CEO to lead global growth
Abrado has appointed Jason Broussard as President and CEO. Mr Broussard will be based at the company’s office in Broussard, LA.
Mr Broussard will play a critical role in driving company growth and continuing to create operations and technical excellence in plug and abandonment (P&A). Since its inception, Abrado has developed patented technologies for dual string section milling that reduce cost and increase efficiencies throughout well abandonment operations.
With two decades of experience in upstream well operations, Mr Broussard joins Abrado from US-based Wellbore Fishing & Rental Tools (WFR), where he held the role of Senior Vice President of Operations.
Prior to that, Mr Broussard spent four years working for Schlumberger, where his roles included Director of Operations for North America and Global Product Line Manager for Wellbore Intervention Technologies. Mr Broussard also held a number of management positions with Baker Hughes over an 11-year period, latterly as Regional Operations Manager for Lower Completions in the Gulf of Mexico.
“I am joining Abrado having followed the company’s success and global growth for many years. It is undoubtedly a challenging time for the energy industry, and this has resulted in many operators opting to shut down aging oil wells as production continues to decline,” Mr Broussard said. “Abandoning wells is fraught with risk however, and therefore operators need innovations that de-risk P&A operations, whilst maintaining efficiency and cost-effectiveness.”
“Abrado is leading the way when it comes to harnessing data and state-of-the-art proprietary technology to drastically improve milling operations, which in turn drives down P&A costs and delivers value to operators around the world,” Mr Broussard added. “It is very exciting to be a part of this.”
“We are pleased to welcome Mr Broussard to the Abrado team,” Martyn Fear, Abrado Chairman, said. “He brings a wealth of industry experience and technical know-how to the role. This, in addition to his dedication, passion for innovation, proven leadership capabilities and the ability to address industry needs, ideally positions him to take the reigns as President and CEO. I am looking forward to working with Mr Broussard to grow the business and continue to bring revolutionary section milling tools to the global market.”
Mr Broussard will replace Matt Anstead, who took over as Abrado’s Interim CEO in March.
“It is a pleasure to hand over the role of CEO to Mr Broussard, who has an excellent track record of driving innovation as well as identifying and capitalizing on key growth markets,” Mr Anstead said. “Abrado has carved out a niche as the only technology provider in the world with a successful track record of supporting the removal of casing sections by milling. I’m confident that Mr Broussard will provide the strategic direction required to build on this success. At EV Private Equity we are proud to back world-class technology companies that make an impact in the energy sector and reduce greenhouse gas emissions, and Abrado is a great example of this.”