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EnQuest accountancy boss makes jump to Reabold Resources

© Shutterstock / Arild LilleboeEnQuest Reabold Resources
Oil platform at sunset in the North Sea

London-listed Reabold Resources (LON: RBD) has announced the appointment of a new chief financial officer.

Chris Connolly joins the upstream investor from North Sea counterpart EnQuest (LON: ENQ), where he was group financial controller.

He has more than 16 years of experience under his belt, having initially trained at accountancy giant Ernst & Young.

Since then Mr Connolly, a Bristol University graduate, has built up experience across the resources industry with Canamens Energy, De Beers Group and Ophir Energy.

At EnQuest, he headed up group finance, group treasury and group systems, leading and managing all internal and external reporting for the company.

He also oversaw all technical accounting transactions for the London-listed operator, and was a significant member of project teams focused on acquisitions.

Mr Connolly said: “I am delighted to be joining Reabold during a key period for many of our assets, with the Corallian and California deals progressing positively. I look forward to building on the strong foundation that Sachin and Stephen have built and supporting the growth ambitions of the Company in the months and years ahead.”

His appointment comes as Reabold negotiates a spin-off of its major share in Corallian Energy.

The company recently announced it had received an a conditional, non-binding offer from a “credible party” 49.99%.

Corallian has a 100% interest in the Victory Gas discovery, west of Shetland, which is estimated to hold mid-case recoverable resources of 179 billion cubic feet of gas (bcf).

Stephen Williams, Reabold’s co-chief executive, said: “We are delighted to welcome Chris to Reabold. His wealth of transaction and reporting experience across a wide range of premier resource companies will be of significant value to the Company during an exciting period for our business.”

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