A rig operator works on a multi-well pad near Fort McMurray, Alta.Kevin Van Paassen
Another energy investment and merchant banking firm is opening an office in Calgary, and naming a well known executive to chair its operations in Canada.
Tudor, Pickering, Holt & Co. (TPH) on Thursday announced Hilary Foulkes will become chair of Tudor, Pickering Holt & Co. Securities – Canada. TPH is based in Houston, with offices in New York, Denver, and London. Calgary will serve as its jumping-off point in Canada.
Ms. Foulkes' last role was at Penn West Petroleum Ltd., where the geologist served as chief operating officer before being ousted in November of 2012. Ms. Foulkes was a key player in Penn West joining hands with China Investment Corp. This deal opened the door for Chinese investment in Canada's energy sector.
She was previously an investment banker at Scotia Waterous, and has board experience in Calgary. Ms. Foulkes is a board member at Enerplus Corp., Parallel Energy Trust, and Modern Resources.
"Hilary is the ideal person to spearhead our efforts in Canada, a very important market for TPH," Bobby Tudor, TPH's chief executive officer, said in a statement. "We aspire to be the global leader in energy financial services, and you cannot do that without being on the ground in Calgary."
He added: "We already do a significant amount of business in Canada, but it's time to expand the effort."
Ms. Foulkes, 56, in the statement hinted her existing connections will be key in her new job. "I look forward to helping TPH build out its Canadian practice and to introducing my colleagues in the Canadian energy space to the firm's capabilities," she said.
TPH says it has about 50 investment bankers on staff at its operations around the world. Its broker-dealers offer investment banking services, as well as research, on more than 160 companies. It also has an investment arm, putting cash into energy companies.