Quintana Energy Services Announces the Addition of Bobby S. Shackouls to Its Board of Directors
10 January 2019 - 8:30AM
Business Wire
Quintana Energy Services Inc. (NYSE: QES) (“QES” or the
“Company”) announced today that Mr. Bobby S. Shackouls has been
appointed as an independent director of the Company and a member of
the Company’s Audit Committee effective immediately.
Corbin J. Robertson, Jr., Quintana’s Chairman of the Board,
said, “We are very fortunate to have an executive of Bobby’s
caliber join our Board of Directors. Bobby is an accomplished
business leader and an experienced Board member in both the public
and private sectors. His extensive leadership experience in diverse
energy markets and thorough understanding of the needs of those
customers will make him a significant addition to the Board.”
Bobby S. Shackouls currently serves as a Director of Oasis
Petroleum, The Kroger Co. and Plains GP Holdings, LLC, the ultimate
general partner of Plains All American Pipeline, L.P.
He served as Chairman of Burlington Resources Inc. from 1997
until its acquisition by ConocoPhillips in 2006. Subsequent to the
acquisition, Mr. Shackouls served on the ConocoPhillips Board of
Directors until his retirement in 2011. He joined Burlington
Resources/Meridian Oil Inc. in 1993 as Executive Vice President and
Chief Operating Officer, and held positions of increasing
leadership responsibility, including Chairman, President and Chief
Executive Officer of Burlington Resources Inc. He began his career
with Exxon Company U.S.A. in New Orleans where he held several
engineering positions.
Mr. Shackouls serves on the Boards of the Sam Houston Area
Council and National Board of the Boy Scouts of America, and the
Mississippi State University Foundation. He is a past Chairman of
the National Petroleum Council. Mr. Shackouls graduated from
Mississippi State University in 1972 with a Bachelor of Science
degree in Chemical Engineering.
Mr. Shackouls election to the Company’s Board raises the total
number of directors to seven, of whom three are independent. All
three independent directors now serve on the Company’s Audit
Committee.
About Quintana Energy Services
QES is a growth-oriented provider of diversified oilfield
services to leading onshore oil and natural gas exploration and
production companies operating in both conventional and
unconventional plays in all of the active major basins throughout
the U.S. QES’ primary services include: directional drilling,
pressure pumping, pressure control and wireline services. The
Company offers a complementary suite of products and services to a
broad customer base that is supported by in-house manufacturing,
repair and maintenance capabilities. More information is available
at www.quintanaenergyservices.com.
Forward-Looking Statements and Cautionary Statements
This news release (and any oral statements made regarding the
subjects of this release, including on the conference call
announced herein) contains certain statements and information that
may constitute “forward-looking statements.” All statements, other
than statements of historical fact, which address activities,
events or developments that we expect, believe or anticipate will
or may occur in the future are forward-looking statements. The
words “anticipate,” “believe,” “expect,” “plan,” “forecasts,”
“will,” “could,” “may,” and similar expressions that convey the
uncertainty of future events or outcomes, and the negative thereof,
are intended to identify forward-looking statements.
Forward-looking statements contained in this news release, which
are not generally historical in nature, include those that express
a belief, expectation or intention regarding our future activities,
plans and goals and our current expectations with respect to, among
other things: our operating cash flows, the availability of capital
and our liquidity; our future revenue, income and operating
performance; our ability to sustain and improve our utilization,
revenue and margins; our ability to maintain acceptable pricing for
our services; future capital expenditures; our ability to finance
equipment, working capital and capital expenditures; our ability to
execute our long-term growth strategy; our ability to successfully
develop our research and technology capabilities and implement
technological developments and enhancements; and the timing and
success of strategic initiatives and special projects.
Forward-looking statements are not assurances
of future performance and actual results could differ materially
from our historical experience and our present expectations or
projections. These forward-looking statements are based on
management’s current expectations and beliefs, forecasts for our
existing operations, experience, expectations and perception of
historical trends, current conditions, anticipated future
developments and their effect on us, and other factors believed to
be appropriate. Although management believes the expectations and
assumptions reflected in these forward-looking statements are
reasonable as and when made, no assurance can be given that these
assumptions are accurate or that any of these expectations will be
achieved (in full or at all). Our forward-looking statements
involve significant risks, contingencies and uncertainties, most of
which are difficult to predict and many of which are beyond our
control. Known material factors that could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, risks associated with the
following: a decline in demand for our services, including due to
declining commodity prices, overcapacity and other competitive
factors affecting our industry; the cyclical nature and volatility
of the oil and gas industry, which impacts the level of
exploration, production and development activity and spending
patterns by E&P companies; a decline in, or substantial
volatility of, crude oil and gas commodity prices, which generally
leads to decreased spending by our customers and negatively impacts
drilling, completion and production activity; and other risks and
uncertainties listed in our filings with the U.S. Securities and
Exchange Commission, including our Current Reports on Form 8-K that
we file from time to time, Quarterly Reports on Form 10-Q and
Annual Report on Form 10-K. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date hereof. We undertake no obligation to publicly update
or revise any forward-looking statements after the date they are
made, whether as a result of new information, future events or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190109005803/en/
Quintana Energy ServicesKeefer M.
Lehner, EVP & CFO832-518-4094IR@qesinc.com
Dennard Lascar Investor
RelationsKen Dennard / Natalie
Hairston713-529-6600QES@dennardlascar.com
Quintana Energy Services (NYSE:QES)
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