October 30, 2020 – According to recruiters, the pressure on chief financial officers during the pandemic has been significant: Rewriting corporate budgets seemingly daily; bargaining with banks over broken loan covenants; answering constant calls from investors and board directors; and, in extreme cases, figuring out how to make payroll. All while working with no colleagues around.
Houston, TX-based executive search firm Preng & Associates recently assisted ProPetro Holding Corp. in the recruitment of David Schorlemer as its new CFO. “I’d like to formally welcome David to the ProPetro team. We look forward to his future contributions as our CFO,” said Phillip Gobe, CEO. “With David’s talent and experience in our sector and in public company governance, we will have a key player at a critical role going forward to help us remain competitive in a dynamic environment.”
Mr. Schorlemer has broad experience in oilfield services and brings more than 25 years of experience in senior level positions with public and private companies spanning such areas as finance, technology, business process integration, strategic and organizational planning, M&A and capital markets transactions. Previously, he served as executive vice president, CFO, treasurer and secretary of Basic Energy Services Inc., a Fort Worth, Texas-based oilfield services company.
In his new position with ProPetro Holding Corp., Mr. Schorlemer will be responsible for overseeing and managing ProPetro’s finance, technology and accounting responsibilities. He takes over from Darin Holderness, who recently left the company.
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
Preng & Associates, founded in 1980, is a retainer-based, international executive search firm specializing solely in the energy industry. The firm’s experience spans the entire energy value chain – from the well head to the wall socket. Its subsector verticals have specific expertise in oil and gas (upstream, midstream and downstream), oilfield equipment and services, power and utilities, renewables, engineering and construction, and industrials. Preng & Associates has conducted more than 3,700 engagements for over 750 companies and placed highly qualified individuals for board, executive management, and professional positions in 75 countries, according to the firm.
David Preng, the firm’s founder, president and CEO, has worked on over 2,000 energy-related searches during his career, ranging from board and senior executive to managerial and senior technical positions. His current focus is primarily at the board, CEO and C-suite level roles. Mr. Preng’s industry experience includes financial, managerial and executive positions with Shell Oil, Litton Industries and Southwest Industries.
Preng & Associates recently placed Matthew DeNezza as the new CFO of Crusoe Energy Systems. He brings decades of financial and strategic leadership experience to the digital flare mitigation and distributed cloud computing company and will allow Crusoe to finance and build a new paradigm of ESG-forward energy and computing services for the oil and gas industry.
Cully Cavness, Crusoe’s president and co-founder, said: “Early in our conversations with Matt, he recognized the need for today’s oil and gas operators to embrace novel, efficient environmental technologies like digital flare mitigation as part of the industry’s response to environmental, social and governance (ESG) demands from investors and the public. As an industry insider who wants to make a difference and be part of the solution, Matt is well aligned with Crusoe’s mission and environmental goals.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media