Superior Energy has selected David Dunlap as Chief Executive Officer of the Company, effective immediately. Dunlap, a veteran oil and energy executive, most recently served as Executive Vice President and Chief Operating Officer of BJ Services Company.
Terence Hall, 64, who founded Superior Energy in 1989 and has since served as the Company's Chairman and CEO, will assume the role of Executive Chairman of the Board of Directors.
Also, Superior Energy announced that Kenneth Blanchard, 60, the Company's President and Chief Operating Officer, will remain in his role through the end of 2010 when he will transition to the position of senior adviser.
"Dave Dunlap has worked and held leadership positions in the oil and energy industry for more than 25 years and he is widely respected by all of us in this industry," said Hall. "Dunlap has been a key player in the management team at BJ Services that grew the Company to one that is a global leader in multiple well service product lines. Under his direction, BJ expanded internationally in the Middle East, Asia, Africa and Russia. In addition, BJ expanded from its legacy pumping services line into a variety of other products and services including completion tools, sand control services, production chemicals, casing and tubing handling services, completion fluids and pipeline services. We are very pleased to have attracted Dave to lead Superior into our next phase of growth. He will be an enormous asset to the Company.
"Our President and COO, Ken Blanchard, has been an integral part of this Company since its founding and will be staying in his current position during Dave's transition into the CEO role. After that, he will serve as a senior adviser to the organization. I want to thank him for his decades of service to the Company and specifically his instrumental role in helping us grow from a $12 million plug and abandonment company to the more than $1.4 billion diversified energy services provider we are today."
"I greatly admire this Company," said Dunlap, 48. "Terry Hall and Ken Blanchard have aggressively grown the enterprise since day one. They've expanded the Company's international footprint, wisely diversified its product lines and invested in superior technology. The Company has an outstanding management team and extremely talented employees. Now, I have the good fortune to be succeeding a man who has created an extremely healthy company with tremendous potential for continued growth both domestically and internationally."
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