Oceaneering's Strategic Board Refresh: How Roger Jenkins' Expertise Positions the Company for Energy Transition and Shareholder Value Creation

The corporate governance landscape in the energy sector is evolving rapidly, driven by the dual imperatives of decarbonization and technological innovation. Oceaneering International's recent board refresh, marked by the appointment of Roger Jenkins as an independent, non-executive director effective January 1, 2026, underscores this shift. Jenkins' extensive experience in energy sector leadership and sustainability governance, particularly during his tenure at Murphy Oil Corporation, aligns closely with Oceaneering's strategic pivot toward energy transition. This move not only strengthens the company's boardroom expertise but also signals a commitment to leveraging sector-specific knowledge to drive long-term shareholder value.

Jenkins' Energy Transition Legacy and Governance Expertise

Roger Jenkins' career at Murphy Oil Corporation (2013–2024) provides a compelling case study in integrating sustainability into corporate strategy. Under his leadership, Murphy Oil achieved a 37% reduction in greenhouse gas emissions intensity, a 51% reduction in methane intensity, and a 66% reduction in flaring intensity from 2019 to 2023. These metrics reflect a deliberate alignment with global decarbonization goals, a strategy that Jenkins reinforced by embedding sustainability into corporate governance. For instance, he approved a 20% weighting for sustainability metrics in Murphy Oil's annual incentive plan, ensuring that environmental performance directly influenced executive compensation. Such governance frameworks are critical for companies navigating the energy transition, where stakeholder expectations increasingly demand measurable environmental progress.

Jenkins' post-Murphy roles further highlight his strategic relevance to Oceaneering. His election to the board of Noble Corporation and Regions Financial Corporation, alongside his participation in energy policy organizations like the American Petroleum Institute, demonstrates a sustained focus on bridging traditional energy operations with emerging sustainability paradigms. This blend of operational acumen and policy insight positions him to guide Oceaneering through the complexities of energy transition, particularly as the company expands into offshore wind, hydrogen, and carbon capture markets.

Oceaneering's Strategic Initiatives and the Role of Sector-Specific Leadership

Oceaneering's recent strategic moves illustrate a clear intent to capitalize on the energy transition. The acquisition of Global Design Innovation Ltd. (GDi) in October 2024, for example, has bolstered the company's digital capabilities and asset management solutions, enabling it to offer more sophisticated services in renewable energy and defense sectors. This acquisition is part of a broader diversification strategy that has already yielded tangible results: the Aerospace and Defense Technologies (ADTech) segment reported a 125% increase in operating income in Q2 2025, driven by new contract awards and growth as a prime contractor.

The company's foray into offshore wind is another key initiative. Oceaneering's remotely operated vehicles (ROVs) have been instrumental in the installation of floating wind turbines in Spain and France, showcasing its technological adaptability. Additionally, its ROVs and Grayloc® Products are being deployed in hydrogen projects and carbon capture infrastructure, sectors expected to grow exponentially in the coming decade. These efforts are not merely speculative; Oceaneering's manufactured products backlog stood at $568 million as of September 30, 2025, reflecting strong demand for its transition-aligned offerings.

Synergies Between Jenkins' Expertise and Oceaneering's Vision

The appointment of Jenkins to Oceaneering's board is a strategic alignment of two trajectories. His experience in reducing emissions and embedding sustainability into corporate governance at Murphy Oil directly complements Oceaneering's push into decarbonized energy markets. For instance, Jenkins' emphasis on methane reduction and flaring efficiency could inform Oceaneering's approach to optimizing carbon capture projects, where precision and safety are paramount. Similarly, his governance experience in balancing stakeholder interests-evident in Murphy Oil's sustainability-linked incentive plans-could help Oceaneering navigate the regulatory and investor pressures inherent in energy transition.

Moreover, Jenkins' leadership in transitioning Murphy Oil into a more focused and efficient operation mirrors Oceaneering's own strategic repositioning. The company's shift toward high-growth sectors like aerospace and defense, alongside its renewable energy ventures, requires disciplined capital allocation and risk management-areas where Jenkins' expertise is particularly valuable. His appointment also signals to investors that Oceaneering is prioritizing long-term resilience over short-term gains, a critical factor in an industry marked by volatility.

Shareholder Value Creation Through Governance and Innovation

The interplay between corporate governance and energy transition is not merely symbolic; it is a driver of tangible value. Oceaneering's third-quarter 2025 results, which highlighted a 125% surge in ADTech operating income, demonstrate the financial rewards of strategic diversification. By appointing Jenkins, the company is reinforcing its ability to execute such initiatives while maintaining governance standards that attract ESG-conscious investors.

Furthermore, Jenkins' presence on the board could enhance Oceaneering's credibility in partnerships and contracts. His reputation as a leader in energy transition, including his role as a speaker at Tulane University's Future of Energy Forum, positions him as a thought leader who can amplify the company's visibility in key markets. This visibility is crucial for securing large-scale projects in offshore wind and hydrogen, where collaboration with governments and utilities is often necessary.

Conclusion

Oceaneering's board refresh, anchored by Roger Jenkins' appointment, represents a calculated step toward securing its position in the energy transition. Jenkins' proven ability to integrate sustainability into corporate strategy, coupled with his governance expertise, aligns seamlessly with the company's diversification into renewable energy, defense, and aerospace. As Oceaneering continues to scale its ADTech segment and expand its footprint in offshore wind and hydrogen, the strategic value of Jenkins' leadership will likely become even more pronounced. For investors, this move signals a commitment to both environmental stewardship and financial resilience-a rare but increasingly essential combination in the evolving energy landscape.