In a recent statement by the Independent Petroleum Association of America (IPAA) team, the IPAA announced Michael A. Hillebrand as its new board chairman.
According to the release, Hillebrand serves as the Chief Executive Officer of Pennsylvania-based Huntley & Huntley. He has been appointed by the IPAA board for a two-year term extending through 2026.
The IPAA stated in the release that its board approved Hillebrand during the organization’s annual meeting in late fall, noting that he officially assumed the position this month. Hillebrand succeeds Steven H. Pruett, President and Chief Executive Officer of Elevation Resources LLC.
According to a bio page on the IPAA’s website, Hillebrand has 39 years of combined experience in vertical and horizontal well drilling, completions, and operations. His expertise also spans all operational and financial aspects of oil and natural gas business development, asset assembly and acquisition, and marketing.The bio further notes that Hillebrand “has played a key leadership role in securing over $1.1 billion in capital funding and/or commitments for several of Huntley’s affiliated companies.” It also mentions that “one of these companies, Olympus Energy, now operates nearly 100,000 acres in one of Southwest Pennsylvania’s last undeveloped core Marcellus, deep Utica, and Upper Devonian unconventional shale regions, currently producing over 600 mmcf/d.”
Hillebrand’s IPAA bio page additionally highlights that he is a member of the Society of Petroleum Engineers (SPE) and serves as the current Chairman of the Pennsylvania Independent Oil and Gas Association (PIOGA).According to a separate bio page on Pruett, hosted on the IPAA website, the outgoing chairman has 38 years of experience in oil and gas operations, finance, and management. He co-founded Elevation Resources LLC, previously served as Senior Vice President of Corporate Development at Concho Resources from 2012 to 2013, and also co-founded and held the role of President and CFO at Legacy Reserves LP, according to the bio.
The page further states that Pruett previously held positions as President and CEO of First Permian and First Reserve Oil & Gas Co, and served as Vice President at First Reserve Corporation. It also notes that he was formerly an energy investment banker with CS First Boston.
The IPAA states on its website that it has advocated for independent oil and natural gas producers for over 90 years. The organization serves thousands of independent producers and service companies throughout the United States. According to the IPAA, these independent producers are responsible for developing 91 percent of the country’s oil and natural gas wells.
