ProPetro Appoints Alex Volkov to Board as ExxonMobil's Designee

ProPetro Holding Corp appoints Alex Volkov to its Board of Directors, effective May 8, 2024, as ExxonMobil's designee. Volkov replaces Mark Berg, who will remain on the Board as an independent director.

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ProPetro Appoints Alex Volkov to Board as ExxonMobil's Designee

ProPetro Appoints Alex Volkov to Board as ExxonMobil's Designee

ProPetro Holding Corp (NYSE: PUMP) has announced the appointment of Alex Volkov to its Board of Directors, effective May 8, 2024, as ExxonMobil's designee. Volkov replaces Mark Berg, who will remain on the Board as an independent director.

Why this matters: The appointment of a seasoned executive like Alex Volkov to ProPetro's Board of Directors highlights the growing importance of strategic partnerships and leadership in the energy sector. As the energy landscape continues to evolve, Volkov's expertise will likely play a crucial role in shaping ProPetro's response to emerging trends and challenges.

Volkov brings nearly three decades of experience in various roles within ExxonMobil. He has navigated through diverse assignments, including marketing, business development, supply chain, logistics, and strategy development. Volkov's international experience includes serving as Vice President of Exxon Neftegas Limited in Moscow and leading international natural gas marketing and trading efforts in the United Kingdom.

ProPetro's Chief Executive Officer, Sam Sledge, welcomed Volkov to the Board, stating, "We extend a warm welcome to Alex, who is bringing with him a wealth of experience from ExxonMobil. His proven leadership and industry acumen will be invaluable as we continue to execute on our strategy and deliver value to all our stakeholders."

Phillip Gobe, Chairman of the ProPetro Board, expressed his pleasure in welcoming Volkov, saying, "It is with great pleasure that we welcome Alex to our Board. His understanding of global energy dynamics will enrich our discussions and help inform our decisions. We look forward to leveraging Alex's strategic insights and leadership as we work for ProPetro's continued success."

ProPetro Holding Corp is a Midland, Texas-based provider of premium completion services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. The company's announcement included forward-looking statements subject to risks and uncertainties, such as the volatility of oil prices, global macroeconomic uncertainty, and other factors described in ProPetro's regulatory filings.

The appointment of Alex Volkov to ProPetro's Board of Directors as ExxonMobil's designee brings a seasoned executive with extensive industry experience to the company's leadership. Volkov's global perspective and strategic insights are expected to contribute to ProPetro's continued growth and success in the dynamic energy sector.

Key Takeaways

  • ProPetro appoints Alex Volkov to its Board of Directors, effective May 8, 2024.
  • Volkov replaces Mark Berg, who remains as an independent director.
  • Volkov brings 30 years of experience from ExxonMobil, including marketing and strategy development.
  • ProPetro's CEO and Chairman welcome Volkov, citing his valuable industry expertise.
  • Volkov's appointment is expected to contribute to ProPetro's growth in the energy sector.