- Continued strengthening in US Land drilling activity
- Utilization rate of 99.3 %
- EBITDA was MUSD 3.9
- Year to date TRIR of 0.80
Marty L. Jimmerson Named Chief Financial Officer and Interim Chief Executive Officer at NorAm Drilling Company
HOUSTON, January 20, 2017 – NorAm Drilling Company, a privately-owned operator of nine high-spec U.S. land-based drilling rigs announced today that Marty L Jimmerson has been named chief financial officer and interim chief executive officer. He will be based in Houston and succeeds Dale Wilhelm, who has served in the same capacity and has been with NorAm Drilling since January 2013.
Jimmerson most recently served as interim chief executive officer of RigNet, Inc. from January through June 2016, and senior vice president and chief financial officer from November 2006 until January 2016. RigNet is a U.S. listed and publically traded company that provides remote telecommunication services to both offshore and onshore drilling contractors, operators and service providers serving the oil & gas industry.
Prior to RigNet, Jimmerson served in senior management positions for Noble Drilling Corporation, an offshore drilling contractor, and American Tower Corporation, an owner and operator of wireless towers. Jimmerson has a strong financial background, passion for best in class customer service, operational excellence and effective communications. Jimmerson said, “I am very excited to join the NorAm team. NorAm has established itself as a best in class operator of high-spec quality rigs and I see opportunities for us to build on that success going forward.”
Jimmerson together with NorAm’s Chief Operating Officer Thomas Taylor will constitute the new Executive Team reporting to the Board of Directors.
“We are excited to have Marty join the NorAm team and have confidence in his ability to propel NorAm forward as we navigate through a challenged oil services industry that is showing signs of improvement, especially within U.S. land drilling in the Lower States/Texas where all our operations are located,” said Chairman Henrik Tangen. “Marty’s prior experience and leadership skills position him very well to help lead NorAm through the expected land drilling market recovery for which we are well positioned given our strong operational performance during the downcycle.”
Tangen added, “Dale Wilhelm has served us well in the CFO and interim CEO role over the last two years and we greatly appreciate his leadership and significant contributions while in the role. We thank Dale for his 4+ years of dedication to NorAm’s success and wish him the very best in his future endeavors.”