Consulting firm Alvarez & Marsal has hired Craig Jones as a senior director in the firm’s energy practice in Houston. Jones brings 20 years of experience in the oil and gas industry, having held leadership roles across oilfield services, upstream, midstream, and downstream.
Jones’ addition is part of the consulting firm’s ongoing commitment to bolster its energy-focused offerings as the market faces severe challenges. The oil industry is under extreme pressure amid price shocks caused by Covid-19-related demand drops and OPEC production choices.
Jones will support A&M’s clients in oilfield services and manufacturing with expertise in CFO services, M&A integration, strategy and operations management, and lean performance improvement.
Prior to joining A&M, Jones was VP of sales at BJ Services, where he sourced and managed revenues over $1.8 billion for up to 30 fracking fleets and 250 rigs.
Before that, he spent 18 years at oilfield services giant Schlumberger, and at Cameron, another oilfield services firm which was acquired by Schlumberger in 2016. At Schlumberger, he was production group sales & commercial manager for North America land-based operations, with sales responsibility for a $1 billion business across product lines including well construction, cementing, completions, and artificial lift solutions.
Before that, Jones was VP of sales & aftermarket operations for Cameron Surface Systems, with P&L responsibility for the division’s North America wellhead, frac rental, and flowback business. He also previously served as VP of finance for Cameron’s valves and measurement group, working as the chief finance executive of a group with revenues over $2.2 billion and more than 5,000 employees. Before that, he was regional CFO for Cameron’s Asia Pacific & Middle East business, with revenues over $1.3 billion and more than 2,000 employees.
Jones joined Cameron in 2000, initially working as a financial analyst and then as an accounting manager. He started his career as a staff accountant at furniture manufacturer Leggett & Platt. He holds a BSBA in accounting from the University of Arkansas at Fayetteville.
“Efficiency and economies of scale are critically important given the current state of the oil and gas market,” said Lee Maginniss, managing director and national leader of A&M corporate performance improvement’s energy practice. “Craig’s vast experience and industry knowledge aligns strategically with our group’s objective to serve our clients’ needs and address marketplace demands. As the energy industry is facing extreme challenges, coveted experts and senior leaders like Craig allow us to provide the leadership and results that our clients seek.”
Rival consulting firm Ankura recently added two oil sector restructuring experts, welcoming Anthony Schnur as a senior managing director in Houston, and Scott Davido as a senior managing director in New York.