CALGARY, Oct. 20 /CNW/ - Calfrac Well Services Ltd. ("Calfrac") (TSX:
CFW) is pleased to announce the following changes to its executive team
effective November 17, 2008:
- Tom Medvedic, Calfrac's Senior Vice President, Finance and Chief
Financial Officer, has been appointed Senior Vice President,
- Laura Cillis has been appointed as Calfrac's Senior Vice President,
Finance and Chief Financial Officer.
Mr. Medvedic has served as Calfrac's Chief Financial Officer since 2004
and was instrumental in the formalization of the required financial controls
and procedures to transition from a private company to a public company, and
also played a central role from a financial perspective in managing the
international expansion of Calfrac's operations into Russia, Mexico and
Argentina, as well as its expanded presence in the United States. In his new
role as Senior Vice President, Corporate Development, Mr. Medvedic will be
focused on assessing strategic initiatives and business opportunities, and
will also provide support on investor relations matters.
Ms. Cillis brings with her over 20 years of financial experience in the
oil and gas services industry, having most recently served as the Chief
Financial Officer of Canadian Energy Services L.P. since January of 2006. Ms.
Cillis also has extensive international experience gained from her tenure with
two large multi-national corporations in the oilfield services sector, and
offers a broad range of financial leadership and technical expertise. Ms.
Cillis holds a Bachelor of Commerce degree from the University of Alberta and
has been a Chartered Accountant since 1986.
"We are extremely pleased to announce Tom's transition from CFO to Senior
Vice President, Corporate Development, a role in which he will be well
positioned to bolster senior management depth in all of our geographic
segments and assist with the identification and exploitation of strategic
initiatives and opportunities," commented Doug Ramsay, Calfrac's President and
Chief Executive Officer. "We are equally pleased to announce the addition of
Laura to our team as Senior Vice President, Finance and Chief Financial
Officer, and are excited about the strong financial expertise and proven track
record of success in a variety of leadership roles that she brings with her to
our company," added Mr. Ramsay.
Calfrac's common shares are publicly traded on the Toronto Stock Exchange
under the trading symbol "CFW". Calfrac provides specialized oilfield services
to exploration and production companies designed to increase the production of
hydrocarbons from wells drilled throughout western Canada, the United States,
Russia, Mexico and Argentina.
For further information:
For further information: Douglas R. Ramsay, President and Chief
Executive Officer, Telephone: (403) 266-6000, Fax: (403) 266-7381; Tom J.
Medvedic, Senior Vice President, Finance and Chief Financial Officer,
Telephone: (403) 266-6000, Fax: (403) 266-7381