Fort Worth-based Basic Energy Services Inc. (OTCQX: BASX) announced Sept. 30 that CFO David Schorlemer has decided to resign to pursue other interests, according to a company news release. Schorlemer will remain as the Executive Vice President, Chief Financial Officer, Treasurer and Secretary of the company until October 9, 2020.
“On behalf of the Board of Directors and the entire Company, I’d like to express our thanks to David for his leadership during a very challenging period for the industry,” said Keith Schilling, President and Chief Executive Officer. “David was instrumental during a transformative era for the company, playing a key role in the acquisition and integration of C&J Well Services as well as assisting in a successful and significant cost reduction effort that leaves the company in a stronger position to be the trusted production services provider in the United States. The team and I would like to wish David the greatest success in his next endeavor.”
Following Schorlemer’s notification, the board of the company approved the appointment of Adam Hurley to serve as Executive Vice President, Chief Financial Officer, Treasurer and Secretary of the company, effective as of October 10, 2020. Mr. Hurley will perform the functions of the company’s principal financial officer and principal accounting officer. Hurley will no longer serve as Executive Vice President, Operations or as the Company’s principal operating officer. The Board of the company has also approved the appointment of James F. Newman to serve as Executive Vice President, Operations of the company, effective as of October 10, 2020. Newman will perform the function of the company’s principal operating officer