About David Whitby
President and Director
A senior executive with 40 years of industry experience spanning from the sand face through to the board room. Dave Whitby has a reputation for building companies, creating value and driving performance improvements in the oil and gas industry, consistently delivering breakthrough change in performance.
He is well known in South East Asia, Australia, and Canada with broad experience. He has been relied upon to successfully manage difficult situations, having worked for 14 years with Husky in Canada, and 12 years for Gulf Canada/ConocoPhillips in Indonesia and Australia.
The majority of Mr. Whitby's career has been focused on monetizing gas reserves in Indonesia having successfully closed 5 major gas supply contracts with Caltex in Indonesia, export to Singapore and domestic sale to W. Java totaling 12.5 Tcf producing in excess of 1.5 Bcf/d, thus pioneering the modern- day gas industry in Indonesia.
Former President & CEO, of ASX-listed Nido Petroleum. Through a series of partnerships and land acquisitions, Nido gained control of the offshore NW Palawan basin. The previously stranded Galoc oil field was brought on-stream, and an exploration portfolio generating 60+ drillable prospects was built. Under his leadership, the company raised A$145mn through fresh equity and convertible debt. The share price of the company rose from 1.6 cents in 2004 to 62 cents in 2008 resulting in a market cap of A$600mn to become an ASX 200 company.
Whitby grew up in Swift Current, Saskatchewan and studied Mechanical Engineering at the Royal Military College in Kingston, Ontario and served in the Base Engineering Unit at CFB Calgary before joining Husky Oil.
Major Career Highlights
Pioneer of the Indonesian gas industry; monetizing 12.5 Tcf delivering 1.5 Bcf/d of gas sales
As Vice-President, re-structured Husky heavy oil operations, returning it to profitability by increasing production from 28,000 boepd to 33,000 boepd while reducing Opex from $7.26/bbl to $4.86/bbl in under 2 years.
As Managing Director of Gulf Australia ( as subsidiary of Gulf Canada) grew production from 5,400 Boe/d to 18,500 Boe/d in 3 yrs through the divestiture of 3.5% WI in SWQ Cooper Basin to Santos and the acquisition of the Jabiru/Chalise FPSO’s from BHP and increasing production through facility optimization from 6,000 bopd to 13,100 bopd.
Led the defense against ConocoPhillips takeover of Gulf Indonesia (NYSX) closing at $14.37/share, a 60% increase in historical share price generating $437 million for shareholders
Led Pertamina’s negotiations with ConocoPhillips on the unitization of the 7.4 Tcf Suban gas field in South Sumatra, generating incremental annual revenue for Pertamina of $267 million /yr for 16 years totaling $4.27 billion
Rejuvenated Nido Petroleum from a market cap of $1.4 million to $620 million in 42 months.