Mr Varel will be the first advisor appointed to the company’s advisory board. He grew up in the oil and gas industry, and the Varel family has manufactured drill bits for the oil and gas, mining, and industrial sectors for over 50 years.
Mr Varel is currently managing principal of Elephant Oil and Gas, an independent oil and gas firm focused on drilling and development prospects as well as producing properties in Texas, including the Barnett Shale.
