USWS’s Board of Managers names Nathan Houston, COO, to succeed Brian Stewart as the Company’s President and CEO
Houston, TX — Over the past 3 ½ years I have had the privilege to serve as the President and CEO of U.S. Well Services. My time here has been the most challenging but rewarding of a professional career spanning 38 years. During my career I have seen many achievements but nothing compares to the growth and success accomplished by USWS under such challenging market conditions.
USWS has grown from a single frac fleet in April 2012 to our ninth fleet deployment in September 2015. USWS now employs approximately 600 people in four states and has become the largest provider of hydraulic fracturing services in the Appalachian Basin. To put it in perspective, the Company completed only 412 stages in all of 2012 compared to 751 stages in November 2015 alone. Furthermore, USWS will surpass 6,000 stages pumped in the year 2015. In addition to operational success, USWS has developed and patented the Clean Fleet, revolutionary technology that is the industry’s most environmentally responsible fracturing service. More importantly, we have done it all safely. The Company’s total recordable incident rate (TRIR) is 25% better than the industry average. Impressive results under any circumstances but truly remarkable in the market conditions we have dealt with since the Company’s inception.
Although current market conditions remain challenging, USWS continues to enjoy success while others struggle to survive. USWS has a bright future filled with opportunities but there is still much work to be completed. That is why I am announcing my retirement effective December 31, 2015. I believe this is the opportune time to turn over my responsibilities and transition to new leadership that can effectively lead the Company going forward. This is an important change for USWS but I am confident in their ability to make the transition because the senior leadership team is strong and the culture created is sound. The strategy will not change with this transition. They will continue to focus on the things that have successfully differentiated USWS from the competition, safety, job quality, customer service, and technological advancements.
I will continue to serve the Company as a member of its Board of Managers but it is simply time for me to slow down and spend more time with my wife, children and grandchildren. USWS is special and there is nothing better than to have been part of something special.
Moving forward, USWS’s Board of Managers has unanimously chosen Nathan Houston, COO, to succeed me as the Company’s President and CEO. His leadership skills coupled with his strategic thinking and proven ability to deliver results makes Nathan the obvious choice to execute USWS’s strategy and drive sustainable growth. Nathan has been with USWS since the Company’s inception and his in-depth knowledge of the Company’s history, operations, and strategy along with his industry experience positions him perfectly to lead the Company moving forward. I believe the Company’s best days lie ahead and I could not be more pleased about his appointment.
Nathan has 18 years of industry experience including drilling, workover, completion, and management roles with Halliburton, Dominion Transmission, Superior Well Services (Nabors), and U.S. Well Services. He served as the Director of Technology for Superior Well Services from 2010 – 2012 supporting their stimulation and cementing services for U.S. land based operations prior to joining U.S. Well Services as Director of Engineering in March 2012.
Nathan’s role expanded coinciding with USWS’s growth and he was promoted to Vice President of Engineering in 2013. Nathan was promoted to his current position of Chief Operating Officer in 2014 where he has been instrumental in helping the Company navigate through the current difficult market conditions.
Nathan earned a B.S. degree in Geo-Environmental Engineering with a minor in Geoscience from Pennsylvania State University. He is a member of the Society of Petroleum Engineers and has authored or co-authored several SPE papers and professional articles on Marcellus Shale stimulation practices and water reuse.