Ivar Siem is the Chairman and co-founder of American Resources, Inc. and a Managing Partner of Norexas, LLC. Mr. Siem served as Chairman and Chief Executive Officer of American Resources, Inc. from 2013 through July 2017.
Mr. Siem has broad experience from both the upstream and the service segments of the oil and gas industry. He has been the founder of several companies and involved in several roll-ups and restructuring processes throughout his career.
From 1990 to 2014 Mr. Siem served as Chairman of Blue Dolphin Energy Company (BDCO). Mr. Siem headed an investment group that acquired controlling interest in Blue Dolphin when it emerged from bankruptcy, replaced management, restructured and retired $12 million in debt, and rationalized the portfolio. In 2012 BDCO merged with a single purpose company which owned the Nixon refinery.
In 1999 Mr. Siem acquired a small distressed public company, American Resources Offshore, Inc. and worked with creditors and existing management to achieve a voluntary reorganization.
From 1995 to 2000 Mr. Siem served as Chairman and interim CEO of DI Industries/Grey Wolf Drilling while restructuring the company financially and operationally. Through several mergers and acquisitions, the company emerged as one of the leading land drilling contractors. The company was subsequently (2008) acquired by Precision Drilling.
From 1996 to 1997 Mr. Siem served as Chairman and CEO of Seateam Technology ASA. Prior to Seateam, Mr. Siem held various executive roles at multiple E&P and oil field service companies. Mr. Siem started his career at Amoco working as an engineer in various segments of upstream operations.
Mr. Siem is currently on the Board of Directors at PEDEVCO Corp., Siem Industries, Inc., Siem WIS, Frupor SA, and the Drillmar Energy Group and has served on the board of several privately held and publicly traded companies including Avenir, ASA and DSND ASA. Siem Industries is a holding company which invests in shipping and offshore oil and gas construction services. Siem WIS is an indirect subsidiary of Siem Industries and is developing safety devices for drilling challenging wells. Frupor SA, is a Portuguese agricultural business, which Mr. Siem cofounded with his brother O. M. Siem in 1988.
Mr. Siem holds a Bachelor of Science in Mechanical Engineering with a minor in Petroleum from the University of California, Berkeley and an Executive MBA from the Amos Tuck School of Business, Dartmouth University.
J. Douglas Schick
J. Douglas Schick is the Chief Executive Officer and co-founder of American Resources, Inc. (ARI), the President of PEDEVCO Corp. and a Managing Partner of Norexas, LLC and American Resources Fund I, LLC. Mr. Schick served as the Chief Financial Officer & Vice President of Business Development of American Resources, Inc. from 2013 through July 2017.
Prior to ARI, Mr. Schick worked for Drillmar Energy, Inc. (ARI’s predecessor) as a consultant managing the company’s M&A and business development functions through his personal Energy Consulting, Advisory and Merchant Banking business, J. Douglas Enterprises, LLC. Through J. Douglas Enterprises, Mr. Schick consulted and advised numerous E&P companies, oil field service companies and a public bio-fuel company on corporate finance matters, financings, valuations, business development and other general start-up related issues.
Prior to starting J. Douglas Enterprises in June 2011, Mr. Schick was Vice President of Finance for Highland Oil and Gas, a private equity backed E&P company that was sold in May 2011. In this role Mr. Schick was responsible for all finance, planning, treasury, and oil and gas marketing activities as well as coordination of the sale.
Mr. Schick served as Director of Planning for Mariner Energy, Inc. from 2006 until its sale to Apache Corp in 2010. In this role Mr. Schick created the planning department following the 2006 IPO and was responsible for all planning activities as well as management of Mariner’s capital program and partial responsibility for the treasury department (capital markets, rating agencies), investor relations and M&A.
From 1998 to 2006 Mr. Schick worked in various roles of increasing responsibility in planning, finance, M&A, treasury and accounting at The Houston Exploration Company, ConocoPhillips and Shell.
Mr. Schick currently serves on the Board of Directors at Rockdale Marcellus, LLC.
Mr. Schick holds a BBA in Finance from New Mexico State University and an MBA with a specialization in Finance from Tulane University.