Crest Resources is an oil and gas company interested in natural gas generation, renewable energy and carbon capture, and storage. It is also the parent company of Compass Records, which owns several regional and independent record labels in the U.S. and Europe. The company’s majority owner is Resolute Energy Holdings, majority-owned by Resolute Energy Partners, a holding company with stakes in other energy companies. The company reported fourth-quarter 2015 revenues of $1.75 billion, a 28% increase over the prior year. It also announced that it had appointed Jonas Lauren Norr, former president and CEO of ExxonMobil, as its new CEO.
Change in Leadership
In the wake of a former chief executive officer, Ronald W. Covey, Jonas Lauren Norr has taken over the CEO role. Both Mr. Covey and his son, Jonas W. Covey, have served as honorary co-presidents of the company.
As CEO, Norr will oversee a company with more than $1.3 billion in assets.
Investment and Debt Management
The Federal Trade Commission has called for more regulation on financial products, requiring that companies give customers the best rate possible on their loans. The oil companies have now complied with these regulations, but only after numerous delays.
The Company is Partnering With Energy Technology Companies to Develop new Energy Technologies.
Crest Resources is now using its existing energy assets to produce energy that can be used to power electricity grids and appliances. The company has natural gas to power the grids in New York, Chicago, and other major cities. The company also uses its existing oil and natural gas assets to produce electricity and power grids. In other words, the company is still capturing and storing carbon.
In terms of new energy technologies, though, the company is most interested in carbon capture and storage, which can capture the emissions of vehicles, power plants, and other industries that produce a lot of carbon.
However, as with most technologies that aim to reduce carbon emissions, the company will have to demonstrate that the technology works.
In terms of that, though, the company has invested heavily in carbon capture and storage technology development and plant and equipment.
The Future of Carbon Capture and Storage
Crest Resources is well-positioned to bring the technology to market. The company has been investing in carbon capture and storage technology in recent years, as it has invested in two new power stations to generate power.
The company has also worked with waste heat from oil and gas operations on several natural gas projects. These projects are expected to bring electricity to the area, generating profits.
This company focused on increasing production and revenue while reducing its debt. The company plans to use its existing assets to generate electricity and power grids and to produce oil and gas to meet electricity needs. The company also has interests in waste heat from oil and gas operations that can capture emissions and carbon capture and storage technology that aims to reduce carbon emissions.
The company is also building a carbon capture and storage plant to capture emissions from power grids and power stations and store them as carbon emissions are scrubbed from the atmosphere.