Enservco Corporation Announces Management Changes
April 05 2022 - 8:00AM
Enservco Corporation (NYSE American: ENSV), a diversified national
provider of specialized well-site services to the domestic onshore
conventional and unconventional oil and gas industries, today
announced that Mark K. Patterson has joined the Company as Senior
Vice President.
Patterson is an accomplished senior executive with
extensive experience in financial and strategic planning,
operations, logistics, capital markets, and M&A. He is a
growth-oriented manager with a track record of leading and
executing transformative business and financial strategies with
private and public companies ranging from start-ups to
multi-billion-dollar enterprises.
Patterson is the former Board Member and CFO of
Express-1 Expedited Solutions, which later changed its name to XPO
Logistics – a $12 billion NYSE-listed freight transportation
company. Previous assignments include Executive Vice President, CFO
and COO of All-State Express, where he led operations, sales,
safety, accounting and strategic planning; CFO and acting CEO of
Transcard LLC, a financial technology company where he was
responsible for operations, finance and accounting; and Executive
Vice President and CFO of Appalachian Underwriters, an
international insurance group where he led financial and
operational matters. He is the founder and an owner of BetterWay
Logistics, a fast-growing private freight brokerage agency. “I am
excited to join Enservco at a time when the energy industry is
rebounding and opportunities for organic and acquisitive growth are
growing,” said Patterson. “Enservco enjoys a strong industry
reputation, a blue-chip customer base and a national footprint,
which combine to provide a solid foundation to build upon.”
“We are very pleased to add Mark to our senior
management team. He is a highly accomplished executive who has
produced excellent results at every company he has been associated
with throughout his career,” said Rich Murphy, Executive Chairman
of Enservco. “We look forward to benefitting from his energy, skill
set and experience as we advance our business strategy.”
Murphy added, “I would also like to thank
Marjorie Hargrave for her service to the Company over the past
several years. She joined Enservco in 2019 to lead a financial and
organizational turnaround as the industry was entering a difficult
phase. During her tenure, she was instrumental in reducing
operating and overhead expenses and achieved substantial debt
reduction and refinancing that strengthened our balance sheet and
allowed the Company to weather the downturn. With the successful
completion of this process, Marjorie will move on to other
opportunities, and we wish her well in her future endeavors. We
expect to move quickly to bring on board a new Chief Financial
Officer.”
About Enservco
Through its various operating subsidiaries,
Enservco provides a 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 and serves customers in Colorado,
Montana, New Mexico, North Dakota, Oklahoma, Pennsylvania, Ohio,
Texas, Wyoming, West Virginia, Utah, Michigan, Illinois, Florida,
New Mexico and Louisiana. Additional information is available
at www.enservco.com.
Cautionary Note Regarding Forward-Looking
Statements
This news 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 performance of Enservco are dependent upon a number
of factors, and there can be no assurance that Enservco will
achieve the results as contemplated herein. Certain statements
contained in this release using the terms "may," “intends,”
"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, 2020, and subsequently filed documents with the SEC.
Forward looking statements in this news release include the ability
of the Company to advance its business strategy, achieve its growth
objectives and maintain a strong balance sheet. In addition, we
believe the higher oil price environment bodes well for the Company
in the and the ability raise additional equity. Enservco disclaims
any obligation to update any forward-looking statement made herein,
except as required by law.
Contact:
Marjorie Hargrave President and Chief Financial
Officer Enservco Corporation mhargrave@enservco.com
Pfeiffer High Investor Relations, Inc. Jay
Pfeiffer Phone: 303-880-9000 Email: 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