First Reserve, a leading global private equity investment firm exclusively focused on energy, today announced the promotion of four senior investment professionals.

Alex Krueger, President and CEO of First Reserve, stated, "One of First Reserve's greatest strengths is the capabilities of our team. These four professionals are further examples of the firm's unwavering dedication to perform on behalf of our investors and partners. I am joined by First Reserve's senior leadership in congratulating these individuals, and we look forward to continuing to work together to create value across the energy sector."

The promotions become effective as of January 1, 2018, and include:

• Brooks Shughart, promoted to Managing Director. Since joining the firm in 2012, Brooks has made significant contributions to First Reserve's global Resources portfolio. He has played a key role in the Firm's investments in Ascent Resources, Saddle Barnett Resources, Texas American Resources Company, and Utica Minerals Development. As a Managing Director, Brooks will continue to focus on First Reserve's existing Resources investments as well as new investment opportunities throughout the oil and natural gas sector. Prior to joining First Reserve, Brooks was a Director in the Mergers and Acquisitions Group of Credit Suisse. Prior to Credit Suisse, he held positions in the energy groups of Lazard Freres and Donaldson, Lufkin & Jenrette/CS First Boston. He holds a B.B.A. from The University of Texas and is based in our Houston office.

• Edward T. Bialas, promoted to Managing Director. Since joining the firm in 2003, Ed has been a leading contributor to our Equipment and Services and Midstream/Downstream portfolio, with key roles in our investments in Power Well Services, Dresser-Rand, Diamond S Shipping, AFGlobal, Hoover Ferguson Group and Vista Proppants & Logistics. As of 2017, Ed also is responsible for the Firm's fund raising and investor relations activities with a focus on providing best-in-class service for our Limited Partners. Prior to joining First Reserve, Ed was an Analyst at UBS Investment Bank in the Financial Sponsors Group. He holds an A.B. from Dartmouth Collegeand an M.B.A. from Harvard Business School. He is based in our Houston office.

• Jesse Krynak, promoted to Director. Since joining the firm in 2010, Jesse has been a key member of the portfolio company teams responsible for several investments throughout First Reserve's core investment energy subsectors – Resources, Equipment & Services, and Midstream/Downstream. These portfolio investments have included Deep Gulf Energy, RKI Exploration & Production, TNT Crane & Rigging and PBF Energy. As a Director, Jesse will continue to help drive diversified investments throughout the global energy value chain. Prior to joining First Reserve, Jesse was a Financial Analyst in the Global Energy Investment Banking Division at Credit Suisse. He holds a B.S. from Pepperdine University and a M.A. from the University of Southern California. He is based in our Houston office.

• David M. McFarland, promoted to Director. Since joining the firm in 2010, David has been a key member of the portfolio company teams responsible for several investments in the Midstream/Downstream and Equipment & Services sectors, including Crestwood Permian Basin Holdings LLC, KA First Reserve, Western Gas Partners, Plains All American, Phillips 66 Partners, and Saxon Energy Services (in partnership with Schlumberger). As a Director, David will continue to help drive diversified investments throughout the global energy value chain. Prior to joining First Reserve, David was an Analyst in the Investment Banking Division, Global Natural Resources Group, at Barclays Capital. He holds a B.S. from the University of Virginia McIntire School of Commerce. He is based in the Houston office.

About First Reserve

First Reserve is a leading global private equity investment firm exclusively focused on energy. With nearly 35 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $31 billion of aggregate capital since inception. First Reserve has completed over 600 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the Firm's history. Its portfolio companies operate on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and associated infrastructure. Visit www.firstreserve.com for more information.