GASFRAC Chairman, Mr. Gerry Roe noted: "The Company has developed a strong executive team over the last several months.
The board of directors of GASFRAC Energy Services Inc. has reported that Jim Hill has been appointed as Chief Executive Officer and Tim O'Rourke has been appointed as Chief Operating Officer.
Mr. Hill joined the Company in 2010 as its Chief Financial Officer and has served as Acting CEO since September 2012. Mr. Hill is a chartered accountant with over 30 years' experience as a CFO and in executive management roles with global oilfield services businesses including Nowsco Well Services and Complete Production Services, both fracturing companies. As Acting CEO Jim has provided the leadership resulting in stability both for operations and employees and in successful execution of the operational review outlined in September 2012. This provides a continuing platform for growth.
Mr. O'Rourke has an engineering degree with over 20 years of experience in the oilfield services industry working with Nowsco, BJ Services, and Nabors Industries in various operational, technical and sales management roles in Canada and the US. Since joining GASFRAC in 2010, Tim has been instrumental in facilitating many operational and HSE improvements and has served most recently as Vice President of Operations. Tim has the leadership and experience to successfully work with both the operations and sales teams to broaden GASFRAC's customer base and ensure the highest level of excellence in job execution.
We also welcome Brad Gabel to our board of directors. Brad is a successful oilfield executive who brings a strong knowledge of the industry and customer base in North America and the experience of building successful public and private energy service companies.
The board of directors has established an advisory committee that will consist of Brad Gabel, Robert Roberts, and Robert Maitland to provide assistance to Management to review, develop and execute GASFRAC's strategic initiatives.
GASFRAC Chairman, Mr. Gerry Roe noted: "The Company has developed a strong executive team over the last several months which has delivered on cost reductions, service delivery execution and technology development to enhance value for our customers and shareholders. With these achievements in place our goal is to now grow our revenue base. We believe that these management appointments, together with the addition of Brad Gabel to our board, position the Company to grow from a solid foundation."
Mr. Hill stated: "As with the introduction of any alternative technology such as GASFRAC's, there is an adoption cycle. Success requires customer involvement, rapid cycle experimentation, learning and development. Since introduction of our proprietary technology in 2009 which uses a system to pump pure gelled propane we have adapted to market demand and client requests. As a result we have been able to increase our daily pumping capacity, provide customized fluids, allow fluid recovery and better integrate our operations into our customers' processes. Today we have the benefits of our original technology and enhancements resulting from our alignment with customer requirements to meet the needs of today's industry. Now our team is focused on enhancing our sales and marketing initiatives to introduce and provide our unique technology and better solution to more customers."