NEQ Operating named John Raines president and chief operating officer and Michael Magilton chief financial officer on October 27, 2026, adding operational and financial leadership as the upstream oil and gas company pursues growth.

Key Takeaways

  • Raines previously led Devon Energy’s Permian business.
  • Magilton previously served as chief financial officer at Encino Energy and Sabine Oil & Gas.

NEQ Operating Adds Two Executives

Raines and Magilton join CEO David Harris and will work alongside Alan Smith, an operating partner at Quantum Capital Group who serves as NEQ Operating’s executive chairman.

Harris said the company plans to reinvest cash in development and acquisitions. NEQ Operating is backed by commitments from Quantum Capital Group and manages assets across the Lower 48 states, including South Texas, Appalachia, the Haynesville and the Mid-Continent.

Experience in Operations and Finance

Raines has more than 20 years of upstream experience. Most recently, he was executive vice president of exploration and production at Devon Energy, where he led its Permian business. He also previously oversaw Devon’s three business units as senior vice president of E&P asset management.

Magilton brings experience in upstream finance, capital markets and mergers and acquisitions. At Encino Energy, he helped build a Utica Shale business and worked on the carve-out of Ohio assets acquired from Chesapeake. At Sabine Oil & Gas, he led a financial restructuring, recapitalization and asset divestitures.

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