ProPetro CEO Phillip Gobe leaves his post

  • Push-out Score determined
  • After less than a year and a half in the position
  • Praise and thanks for Gobe
  • Sam Sledge taking over
  • Gobe will remain as Executive Chairman at ProPetro
  • Gobe said 106 words

(exechange) — Midland, Texas, July 27, 2021 — Phillip Gobe, chief executive of ProPetro, leaves his position. As announced by ProPetro Holding Corp. in a news release on Tuesday, July 27, 2021, Phillip A. Gobe leaves his post as chief executive officer at the oilfield services company after less than a year and a half in the role, effective August 31, 2021.

Phillip Gobe’s duties as CEO will be taken over by Samuel D. (Sam) Sledge, currently President at ProPetro Holding Corp.

“Culmination of our Board of Directors’ comprehensive succession planning process”

Phillip Gobe’s departure from the CEO post is explained as follows. Phillip Gobe said: “Today’s announcement marks the culmination of our Board of Directors’ comprehensive succession planning process for the orderly transition of ProPetro’s executive leadership team.”

Gobe will remain as Executive Chairman at ProPetro

ProPetro stated: “ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) today announced the further transition for certain key roles within its executive leadership team that will be effective August 31, 2021. This includes:

  • The transition of Phillip Gobe, the Company’s Chairman and Chief Executive Officer, to Executive Chairman;
  • The promotion of Sam Sledge, the Company’s President, to Chief Executive Officer and his appointment to ProPetro’s Board of Directors.; and
  • The expansion of Adam Muñoz’s leadership position from Chief Operating Officer to President and Chief Operating Officer.”
Share price increase since July 2020

The announcement follows an increase in ProPetro Holding Corp.’s share price of 66% since July 2020.

In the position of CEO since 2020

Phillip Gobe became CEO of the Company in 2020.

Phillip A. Gobe began serving as the Company’s Chairman of the Board in July of 2019.

Gobe has served as Chief Executive Officer since March 13, 2020 and prior to that as the Company’s Executive Chairman since October 2019.

Gobe has served as a director of Pioneer since July 2014.

Gobe also serves as a director of Pantheon Resources plc and previously served as a director of Scientific Drilling International and Pioneer Southwest Energy Partners L.P. Gobe joined Energy Partners, Ltd. as Chief Operating Officer in December 2004 and became President in May 2005, and served in those capacities until his retirement in September 2007.

Gobe also served as a director of Energy Partners, Ltd. from November 2005 until May 2008.

Prior to that, Gobe served as Chief Operating Officer of Nuevo Energy Company from February 2001 until its acquisition by Plains Exploration & Production Company in May 2004.

Prior to that time, he held numerous operations and human resources positions with Vastar Resources, Inc. and Atlantic Richfield Company and its subsidiaries.

Gobe has a Bachelor of Arts degree from the University of Texas and a Master of Business Administration degree from the University of Louisiana in Lafayette.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Phillip Gobe’s move on a scale of 0 to 10.

exechange reached out to ProPetro and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 31.2021 ($).