Oil States International chairman resigns, joins Schlumberger’s board of directors

Houston-based Oil States International Inc. (NYSE:OIS) has a new chairman for its board of directors.

Mark Papa resigned as chairman from the oil field services company on Aug. 7, and Oil States’ board of directors appointed Robert “Bob” Potter as the new chairman, according to an Aug. 7 press release. Papa had served as a director since February 2001, when Oil States became a public company, and chairman since February 2016.

Papa, who is the founder and former CEO of EOG Resources Inc. (NYSE: EOG) and the current CEO of Denver-based Centennial Resource Development Inc. (Nasdaq: CDEV), resigned as Oil States’ director and chairman “due to his plans to join the board of a competitor,” per the release. An Oil States filing with the Securities and Exchange Commission also states that the resignation “did not did not result from any disagreement with the company regarding any matter related to the company’s operations, policies or practices.”

As chairman, Papa received a total of $308,999 in compensation for fiscal year 2017, according to a March proxy statement filed with the SEC.

Along with energy researcher Tatiana Mitrova, Papa will join the board of directors at Houston-based Schlumberger Ltd. (NYSE: SLB) effective Oct. 16 and subject to shareholder vote, according to an Aug. 6 filing with the SEC.

It is unclear whether Schlumberger has expanded its board or whether Papa and Mitrova are replacing directors. Houston Business Journal has reached out for more information, but a representative was not immediately available. According to Schlumberger’s website, there are currently 10 directors on the board.

As directors for Schlumberger, Papa and Mitrova “will participate in the Company’s non-employee director compensation arrangement” as well as “will be eligible for a pro-rated portion of the Company’s non-employee director compensation for fiscal 2018,” per the filing.

Schlumberger is No. 4 on HBJ’s list of largest Houston-area public companies based on 2017 revenue. It reported $30.4 billion in revenue, -$1.5 billion  in net income and more than 100,000 global employees.

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Oil States’ new chairman, Potter, joined the company’s board in July 2017, per the Aug. 7 press release. He retired as president of Houston-based FMC Technologies Inc. — now TechnipFMC Plc. (NYSE: FTI) — in 2013 after working for the company in a variety of roles since 1973. For fiscal year 2017, Potter earned a total of $167,068 in compensation from Oil States, per the March 3 SEC filing.

Oil States is No. 88 on HBJ’s list of largest Houston-area public companies based on 2017 revenue. It reported $670.6 million in revenue, -$84.9 million in net income and more than 3,000 global employees.

Ecopetrol announces appointment of new Corporate Vice President of Finance (CFO)

BOGOTÁ, ColombiaAug. 8, 2018 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that as of August 7, 2018Jaime Caballero Uribe has been appointed the new Corporate Vice President of Finance (Chief Financial Officer).

Mr. Caballero has more than 20 years of experience with companies in the oil and gas sector, both in Colombia and abroad. He has served as Ecopetrol’s CFO for the Downstream Segment since July 2017. During this period he has also represented Ecopetrol at the Board of Directors of Propilco and Gases del Caribe, among other companies.

His experience prior to Ecopetrol includes 17 years at BP plc, where he held leadership positions in ColombiaNorth AmericaAfrica and Europe, most recently as CFO for the Brazil region (encompassing BrazilUruguayColombia and Venezuela).

Mr. Caballero is an attorney with a degree from the Universidad de los Andes (Colombia). He has an MBA in Energy Business from the Fundação Getulio Vargas (Brazil), and has carried out executive studies in advanced financial management at Duke University and Wharton School of Business (University of Pennsylvania).

Mr. Caballero will be the compliance agent for financial reporting to the Colombian Finance Superintendency and the international markets.

 

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This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company’s competitiveness and the performance of Colombia’s economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information contact:

Capital Markets Manager (E)

Fernando Alexander Suárez Tello

Telephone: +571-234-5190 

Email: investors@ecopetrol.com.co

Media Relations (Colombia

Jorge Mauricio Tellez 

Telephone: + 571-234-4329 

Email: mauricio.tellez@ecopetrol.com.co

SOURCE Ecopetrol S.A.

Related Links

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