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Nuverra Environmental Solutions Announces Strategic Changes To Operating Structure

Stocks in this article: NES

Nuverra Environmental Solutions (NYSE:NES), a leading provider of full-cycle environmental solutions to energy and industrial end-markets, today announced a strategic rationalization of its Shale Solutions segment operating structure designed to maximize operating efficiencies, leverage future growth opportunities, and optimize sales and business development alignment with customers.

As a first step in this process, the Company’s Shale Solutions segment will now be overseen by three operating divisions:

  • The Northeast Division – comprising the Marcellus and Utica Shale areas;
  • The Southern Division – comprising the Haynesville, Barnett, Eagle Ford, Mississippian Shale areas and the Permian Basin; and
  • The Rocky Mountain Division – comprising the Bakken Shale area.

Division leaders will manage all operational performance, growth activities, business development, and financial responsibility within the division, and each division head will report directly to Mark Johnsrud, Chief Executive Officer. In light of this leadership transition, by mutual agreement with the Company, Charles R. Gordon, President and Chief Operating Officer, will leave the Company and pursue an opportunity in an unrelated business. The COO position has been eliminated.

Additionally, Nuverra has initiated a search for a vice president of business development to lead all new and organic business expansion opportunities, as well as national sales and marketing efforts.

Commenting on the reorganization, Mr. Johnsrud stated, “We believe it is key in the current operating environment to be flexible, nimble and focused on emerging growth opportunities as we place renewed emphasis on streamlining our organization, as well as aligning our business development organization with a customer base that is increasingly national in scope. These organizational changes provide us with better visibility and accountability within the operations in each shale basin and allow us to focus on enhancing best practices and reducing inefficiencies, where applicable. Additionally, this reorganization allows us to further extend the reach of our suite of environmentally compliant and sustainable solutions to a national customer base that is demanding stricter environmental compliance standards. While we understand that change takes time, we believe these efforts will move the Company forward and set us on a strong path for future success.”

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