HOUSTON, Dec. 16, 2019 /PRNewswire/ -- NexTier
Oilfield Solutions Inc. (NYSE: NEX) ("NexTier" or the "Company")
today announced that Kenneth Pucheu,
previously Vice President of Finance, has been promoted to Senior
Vice President and Chief Financial Officer, effective
immediately. Mr. Pucheu succeeds Jan
Kees van Gaalen, who is leaving the Company to pursue other
opportunities.
Mr. Pucheu has twenty years of experience in corporate and
operational finance across the energy industry and will be
responsible for finance, accounting and reporting, tax, and
treasury. He has served as Vice President of Finance at Keane
Group Inc. since 2016 and NexTier since October 2019, following the merger of Keane and
C&J Energy Services, Inc. ("C&J"). Previously, he
worked at Schlumberger Limited for fifteen years in various
senior-level positions, including Head of Finance for Drilling and
Measurements, and Director of Finance for North America
Offshore. Mr. Pucheu earned a B.S. in Accounting from the
University of Louisiana at
Lafayette.
"Kenny will be a strong addition to the NexTier executive
leadership team as he exemplifies our ability to develop top talent
across the organization," said Robert
Drummond, President and Chief Executive Officer of
NexTier. "Kenny has made significant contributions to Keane's
success since its initial public offering and towards the ongoing
integration of NexTier. We look forward to his leadership in
this expanded role as we maintain our focus on operating safely and
efficiently, and delivering for customers."
"Kenny is a high-caliber finance executive with a proven track
record, deep industry experience, and is uniquely positioned to
lead NexTier's finance organization," said Greg Powell, Executive Vice President and Chief
Integration Officer of NexTier. "Kenny has been a strong
partner over the years, and I am very confident in his ability to
continue delivering value for all of our stakeholders."
"I am pleased to take on this expanded role, and I look forward
to working with Robert and other members of the leadership team as
we build on the Company's momentum as an industry-leading U.S. land
diversified oilfield services provider," said Mr. Pucheu.
Mr. Drummond added, "On behalf of the Board and management of
NexTier, I want to thank Jan Kees
for his contributions including providing leadership for C&J
during the critical period following emergence from its financial
restructuring, improving performance of the C&J finance
organization, helping to successfully complete the merger and
positioning NexTier for its next chapter. We wish him well in
the future."
About NexTier Oilfield Solutions
Headquartered in Houston,
Texas, NexTier is an industry-leading U.S. land oilfield
service company, with a diverse set of well completion and
production services across the most active and demanding basins.
Our integrated solutions approach delivers efficiency today,
and our ongoing commitment to innovation helps our customers better
address what is coming next. NexTier is differentiated
through four points of distinction, including safety performance,
efficiency, partnership and innovation. At NexTier, we
believe in living our core values from the basin to the boardroom,
and helping customers win by safely unlocking affordable, reliable
and plentiful sources of energy.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties and are made pursuant
to the safe harbor provisions of Section 27A of the Securities Act
of 1993, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. Where a forward-looking statement expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. The words "believe," "continue,"
"could," "expect," "anticipate," "intends," "estimate," "forecast,"
"project," "should," "may," "will," "would" or the negative thereof
and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements are
only predictions and involve known and unknown risks and
uncertainties, many of which are beyond the Company's control.
Statements in this press release regarding the Company that are
forward-looking, including future financial and operating results,
are based on management's estimates, assumptions and projections,
and are subject to significant uncertainties and other factors,
many of which are beyond the Company's control. These factors and
risks include, but are not limited to, (i) the competitive nature
of the industry in which the Company conducts its business,
including pricing pressures; (ii) the ability to meet rapid demand
shifts; (iii) the impact of pipeline capacity constraints and
adverse weather conditions in oil or gas producing regions; (iv)
the ability to obtain or renew customer contracts and changes in
customer requirements in the markets the Company serves; (v) the
ability to identify, effect and integrate acquisitions, joint
ventures or other transactions; (vi) the ability to protect and
enforce intellectual property rights; (vii) the effect of
environmental and other governmental regulations on the Company's
operations; (viii) the effect of a loss of, or interruption in
operations of, one or more key suppliers, including resulting from
product defects, recalls or suspensions; (ix) the variability of
crude oil and natural gas commodity prices; (x) the market price
and availability of materials or equipment; (xi) the ability to
obtain permits, approvals and authorizations from governmental and
third parties; (xii) the Company's ability to employ a sufficient
number of skilled and qualified workers to combat the operating
hazards inherent in the Company's industry; (xiii) fluctuations in
the market price of the Company's stock; (xiv) the level of, and
obligations associated with, the Company's indebtedness; and (xv)
other risk factors and additional information. For a more detailed
discussion of such risks and other factors, see the Company's
filings with the Securities and Exchange Commission (the "SEC"),
including under the heading "Risk Factors" in Item 1A of the
Company's Annual Report on Form 10-K and Form 10-K/A for the fiscal
year ended December 31, 2018, filed
on February 27, 2019 and August 19, 2019, respectively, and in other
periodic filings, available on the SEC website or
www.NexTierOFS.com. The Company assumes no obligation to update any
forward-looking statements or information, which speak as of their
respective dates, to reflect events or circumstances after the date
of this press release, or to reflect the occurrence of
unanticipated events, except as may be required under applicable
securities laws. Investors should not assume that any lack of
update to a previously issued "forward-looking statement"
constitutes a reaffirmation of that statement.
Investor Contact:
Daniel Jenkins
Vice President – Investor Relations
(713) 325-6000
investors@nextierofs.com
Marc Silverberg
Managing Director (ICR)
marc.silverberg@icrinc.com
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SOURCE NexTier Oilfield Solutions