SCOTTSDALE, Ariz., Nov. 6, 2014 /PRNewswire/ -- Nuverra
Environmental Solutions (NYSE: NES) ("Nuverra" or "the Company"), a
leading provider of full-cycle environmental solutions to the
energy and industrial end-markets, today announced that Executive
Vice President and Chief Financial Officer Jay C. Parkinson is leaving the Company to
pursue other opportunities. Mr. Parkinson will remain with
the Company through March 31, 2015 to
assist with an orderly transition.
Christopher Chisholm, Nuverra's
current Executive Vice President and Chief Accounting Officer, has
been appointed interim CFO effective immediately while the Company
conducts a national search for Mr. Parkinson's successor.
Before joining Nuverra in 2011, Mr. Chisholm was EVP and CFO of
Envirogen Technologies, Inc., a water treatment technologies
business, and a predecessor company from 2008-2011. Prior to that
position, he served as EVP and CFO of Veolia Water North America, LLC, and served in
various executive management capacities for U.S. Filter.
"Jay was instrumental in leading the Company through a series of
strategic transactions in support of our long-term vision and
business strategy," said Mr. Johnsrud, Chief Executive Officer of
Nuverra. "We want to thank Jay for his contributions and wish him
well in the future."
The Company has engaged an industry-specific search firm and
expressed confidence that a permanent successor will be named in a
timely manner.
About Nuverra
Nuverra Environmental Solutions is among the largest companies
in the United States dedicated to
providing comprehensive and full-cycle environmental solutions to
customers in energy and industrial end-markets. Nuverra focuses on
the delivery, collection, treatment, recycling, and disposal of
restricted solids, water, wastewater, used motor oil, spent
antifreeze, waste fluids and hydrocarbons. The Company continues to
expand its suite of environmentally compliant and sustainable
solutions to customers who demand stricter environmental compliance
and accountability from their service providers. Interested parties
can access additional information about Nuverra on the Company's
web site at http://www.nuverra.com, and in documents filed with the
United States Securities and Exchange Commission, on the SEC's web
site at http://www.sec.gov.
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Words such
as "expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," "confident," and
similar expressions are intended to identify such forward-looking
statements. Forward-looking statements in the press release
include, without limitation, forecasts of growth, revenues,
business activity, adjusted EBITDA, pipeline and solids treatment
initiatives, and landfill and treatment facility activities, as
well as statements regarding possible divestitures, timing of such
divestitures, acquisitions, financings, business growth and
expansion opportunities, availability of capital, ability to access
capital markets, and other matters that involve known and unknown
risks, uncertainties and other factors that may cause results,
levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release.
Such risk factors include, among others: difficulties encountered
in acquiring and integrating businesses; uncertainties in
evaluating goodwill and long-lived assets for potential impairment;
potential impact of litigation; risks of successfully consummating
expected transactions within the timeframes or on the terms
contemplated, including risks that such transactions may fail to
close due to unsatisfied closing conditions; uncertainty relating
to successful negotiation, execution and consummation of all
necessary definitive agreements in connection with our strategic
initiatives; whether certain markets grow as anticipated; pricing
pressures; risks associated with our indebtedness; low oil and or
natural gas prices; changes in customer drilling and completion
activities and capital expenditure plans; shifts in production
among shale areas in which we operate and/or into shale areas in
which we currently do not have operations; control of costs and
expenses; and the competitive and regulatory environment.
Additional risks and uncertainties are set forth in the Company's
Form 10-Q for the three months ended September 30, 2014 (which will be filed on or
before November 10, 2014), its Annual
Report on Form 10-K for the fiscal year ended December 31, 2013, as well as the Company's other
reports filed with the United States Securities and Exchange
Commission, which are available at http://www.sec.gov and the
Company's web site at http://www.nuverra.com. As a result of the
foregoing considerations and the other limitations of non-GAAP
measures described elsewhere herein, you are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this presentation. All forward-looking
statements are qualified in their entirety by this cautionary
statement. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Nuverra Environmental Solutions, Inc.
Liz Merritt, 602-903-7802
VP-Investor Relations & Communications
ir@nuverra.com
- or -
The Piacente Group, Inc.
Brandi Piacente, 212-481-2050
nuverra@tpg-ir.com
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SOURCE Nuverra Environmental Solutions, Inc.