Drilling Tools International, a Leading Oilfield Services Company, Announces Appointment of Mr. Roe Patterson to Board of Directors
HOUSTON, June 27, 2023 (GLOBE NEWSWIRE) -- Drilling Tools International Corp. (“DTI” or the “Company”) (Nasdaq DTI), a leading oilfield services company that manufactures and provides a differentiated, rental-focused offering of tools for use in horizontal and directional drilling, today announced the appointment of Mr. Roe Patterson to the DTI Board of Directors, effective June 21, 2023. Mr. Patterson will serve as a member of the Audit Committee of the Board. Following the appointment of Mr. Patterson, the Board is comprised of seven Directors, four of whom are independent.
“We are pleased to welcome Roe to the DTI Board," said Thomas Hicks, Chairman of the Board. “As an industry veteran with nearly three decades of experience, Roe will contribute vast investment, capital formation and strategic leadership knowledge, as DTI continues to execute on its strategy to deliver steady accretive growth, consistent capital discipline and increased shareholder value.”
Wayne Prejean, Chief Executive Officer and Director of Drilling Tools International added, “I am excited that Roe Patterson will be joining DTI as a member of the Board. Roe’s proven track record of corporate value creation and relentless focus on excellence will be invaluable during DTI’s next phase of growth as a public company.”
Mr. Patterson has 28 years of energy industry experience. Mr. Patterson currently manages and invests in multiple companies inside and outside of the energy sector, including ClearWell Dynamics and Ventana Midstream. Mr. Patterson previously served as Basic Energy Services, Inc.’s (“Basic”) President and Chief Executive Officer and was appointed a Director from September 2013 until January of 2020, when he retired from Basic. From 2006 to September 2013, Mr. Patterson worked for Basic in positions of increasing responsibility: as Basic’s Senior Vice President and Chief Operating Officer from April 201l until September 2013, as a Senior Vice President from September 2008 until April 2011 and as a Vice President from February 2006 until September 2008. Prior to joining Basic, Mr. Patterson was President of TMP Companies, Inc. from 2000 to 2006. He was a Contracts / Sales Manager at Patterson Drilling Company from 1996 to 2000. From 1995 to 1996, Mr. Patterson was employed as an Engine Sales Manager at West Texas Caterpillar. Mr. Patterson received a Bachelor of Science degree in Biology from Texas Tech University.
About Drilling Tools International
DTI (Nasdaq: DTI) is a Houston, Texas based leading oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. DTI operates from 22 locations across North America, Europe and the Middle East. DTI’s largest shareholder is an affiliate of Hicks Equity Partners LLC. To learn more about DTI visit: www.drillingtools.com.
Sioban Hickie, ICR, Inc.
Source: Drilling Tools International Corp.