Enservco Announces Departure of CEO Ian E. Dickinson and Appointment of Richard A. Murphy as Executive Chairman
June 02 2020 - 8:00AM
Enservco Corporation (NYSE American: ENSV), a diversified provider
of specialized well-site services to the domestic onshore
conventional and unconventional oil and gas industries, today
announced that President and Chief Executive Officer Ian E.
Dickinson has resigned from the Company effective May 29,
2020.
Richard A. Murphy has been appointed as Executive Chairman of
the Company and will serve as a principal executive officer of the
Company for the foreseeable future. Mr. Murphy was appointed to the
Board of Directors in January of 2016.
Mr. Murphy, age 50, has been a member of the Company’s Board
since January 19, 2016. Mr. Murphy currently serves as the managing
member of Cross River Capital Management, LLC, the general partner
of Cross River Partners, L.P., the largest shareholder of the
Company. Mr. Murphy founded Cross River Partners, L.P. in April of
2002. Cross River Partners, L.P. invests in small-cap companies
with market capitalizations up to $1.5 billion at the time of
initial investment. Mr. Murphy’s primary responsibility as managing
member is investment research, analysis of investment
opportunities, and coordinating final investment decisions for
Cross River Partners, L.P. Prior to founding Cross River Partners,
L.P., Mr. Murphy was an analyst and asset portfolio manager with
SunAmerica Asset Management, LLC from 1998 to 2002. Mr. Murphy also
worked as an associate investment banker at ING Barings in its food
and agricultural division in 1998 and he worked at Chase Manhattan
Bank from 1992 to 1996. He served on the Advisory Board of CMS
Bankcorp, Inc. and currently sits on the Applied Investment
Management Board for the University of Notre Dame. Mr. Murphy is a
member of the board of directors for MRI Heritage Brands, Inc., a
private restaurant company. Mr. Murphy received his MBA from the
University of Notre Dame-Mendoza College of Business in 1998 and a
Bachelor’s Degree in political science from Gettysburg College in
1992.
About EnservcoThrough its various operating
subsidiaries, Enservco provides a wide range of oilfield services,
including hot oiling, acidizing, frac water heating and related
services. The Company has a broad geographic footprint covering
seven major domestic oil and gas basins. Additional
information is available at www.enservco.com
Cautionary Note Regarding Forward-Looking
StatementsThis release contains information that is
"forward-looking" in that it describes events and conditions
Enservco reasonably expects to occur in the future. Expectations
for the future of Enservco are dependent upon a number of factors,
and there can be no assurance that Enservco will achieve any
results as contemplated herein. Certain statements contained in
this release using the terms "may," "expects to," and other terms
denoting future possibilities, are forward-looking statements. The
accuracy of these statements cannot be guaranteed as they are
subject to a variety of risks, which are beyond Enservco's ability
to predict, or control and which may cause actual results to differ
materially from the projections or estimates contained herein.
Among these risks are those set forth in Enservco’s annual report
on Form 10-K for the year ended December 31, 2019, and subsequently
filed documents with the SEC. It is important that each person
reviewing this release understand the significant risks involving
Enservco. Enservco disclaims any obligation to update any
forward-looking statement made herein.
Contact:
Jay PfeifferPfeiffer High Investor Relations,
Inc.Phone: 303-880-9000Email: jay@pfeifferhigh.com
ENSERVCO (AMEX:ENSV)
Historical Stock Chart
From Mar 2024 to Apr 2024
ENSERVCO (AMEX:ENSV)
Historical Stock Chart
From Apr 2023 to Apr 2024