Dolphin Drilling appoints permanent CEO and new CFO
Dolphin Drilling announced changes to the company’s senior management team: Jon Oliver Bryce has been appointed permanent Chief Executive Officer (CEO), effective immediately.
Bryce is an established industry figure with more than 30 years’ experience in the oil and gas industry, having previously held senior leadership positions at Awilco Drilling and Odfjell Drilling. He has been the company’s Chief Strategy Officer since November 2023 and interim CEO since January this year. He is also the current chair of The British Rig Owners Association (BROA) and a Supervisory Board Member of the UK Chamber of Shipping.
“I see opportunity for Dolphin Drilling going forward. In the drilling rig sector that we currently operate, supply is at an all time low following a prolonged period of downturn and scrapping. Rig demand, however, is now building due to a combination of macro and basin-specific reasons, creating an ever-tightening market segment. With a highly competent organization, our 60-year track-record of delivering operational excellence across the globe and now the backing of new major shareholders, the company is uniquely positioned to capitalize on this emerging market imbalance and to create value,” said Bryce.
The new CEO also believes the market will see a consolidation going forward and believes that Dolphin Drilling will play a major part.
“Initially we will focus on the day-job, delivering an improved version of Dolphin Drilling, with a high focus on cost control, organizational optimization and maximizing financial efficiency. Moving forward though, we will look to grow and sector-consolidate through opportunistic & accretive M&A, where synergies and economies of scale can further enhance our investment case,” said Bryce.
In addition, the current Chief Financial Officer (CFO) Stephen Cox will step down and VP Corporate Finance & Investor Relations, Ingolf Gillesdal, has been promoted to CFO, effective from the 15 April. Cox will stay on until the summer to support the Company and the CFO transition.
Gillesdal has more than 25 years experience in the rig industry starting off in corporate and investment banking before moving into operations in marketing, finance and strategy.
“Mr. Gillesdal has been with Dolphin Drilling since 2018 and has an in-depth knowledge of the company. He is an asset on many different levels including his strong and established relationships with the investor markets and our clients,” said Bryce.
