The latest announcement comes after the Cobalt in late May hired Tim Cutt as chief executive following his tenure at the helm of the oil and gas arm of the Australian mining giant.
Cutt replaced co-founder Joe Bryant.
Powell ran BHP's oil and gas finances from 2009 until May 2016, and will replace Shannon Young in the role.
Cutt lauded Powell's experience in welcoming him to the company, including longtime work with capital markets and both equity and debt investors.
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