Advantage Energy CEO Michael Belenkie Steps Down, Interim Chief Named

Advantage Energy has appointed board chair John Festival as interim CEO following the departure of Michael Belenkie, as the company prepares for record production levels in the second half of 2026.

(P&GJ) — Advantage Energy has appointed Board Chair John Festival as interim chief executive officer following the departure of President and CEO Michael Belenkie.

The Calgary-based natural gas producer said June 15 that Belenkie stepped down as CEO and resigned from the company's board of directors, effective immediately. The board has launched a search for a permanent successor.

Festival, who has served as board chair since May 2025, said the company remains focused on executing its business plan as the leadership transition moves forward.

"Advantage's business is performing well, and our focus remains on operational execution and disciplined capital allocation," Festival said. He added that the board will conduct a comprehensive search for a permanent CEO while maintaining continuity across the organization.

The leadership change comes as Advantage expects production to reach record levels during the second half of 2026 following completion of its Progress Gas Plant project.

According to the company, the project positions Advantage for increased free cash flow generation and continued operational growth.

Festival brings more than three decades of experience in the Canadian energy sector. He previously served as president and CEO of BlackRock Ventures and later led BlackPearl Resources. He currently serves on the boards of Athabasca Oil and Cardinal Energy.

Advantage did not provide a reason for Belenkie's departure.