Effective July 3, Sameer Parasnis will become executive vice president and chief financial officer of W&T Offshore, reporting to Tracy Krohn, president and CEO of W&T.
The company noted in its statement that Parasnis has 25 years of financial and operational experience, of which 20 have been in banking. He has advised companies in the oil and gas and energy transition industries on equity capital markets, debt capital markets and strategic mergers and acquisitions.
Prior to joining W&T, Parasnis served as managing director of the energy and energy transition team at Stifel Financial Corporation in Houston. He began his investment banking career at Credit Suisse, where he worked for eight years (including four years internationally) on several notable domestic and international deals in the oil and gas industry, including initial public offerings, offers high yield debt and spin-offs. statement notes.
Parasnis started his career as a chemical engineer at Reliance Industries in 1996 and later moved into finance with Citigroup, after his MBA.
“We are delighted to welcome Sameer to the senior leadership team at W&T,” commented Tracy Krohn.
“Sameer has served as a trusted financial advisor to W&T over the years on key strategic company initiatives, including our drilling joint venture and corporate debt refinancing in 2018, non-recourse term loan financing with Munich Re Reserve Risk Financing, in 2021. as well as our opportunistic At-The-Market share offering in 2022. We are confident that his experience with both the W&T business and our senior management team will enable a smooth transition into this new role,” added Krohn.
The addition of Parasnis follows a recent addition to the company’s board of directors. In other words, in May of this year, W&T Offshore appointed Nancy Chang as the new independent director of the company’s board.
Chang will serve as a member of the Audit Committee and the Nominating and Corporate Governance Committee and as Chair of the Environment, Safety and Governance (ESG) Committee.
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