CALGARY, ALBERTA–(Marketwired – June 15, 2017) –
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
DIVERGENT Energy Services Corp. (TSX VENTURE:DVG) (“Divergent” or “the Corporation”) is pleased to announce the appointment of Mr. Donald Luft to its board of directors. Mr. Luft brings over forty years of operating, management and executive experience in the oil and gas service industry.
Mr. Luft’s oilfield career started in 1973 with Nowsco Well Service. Beginning in a number of different field operations, Don’s extraordinary dedication to hard work and unyielding commitment to excellence resulted in 23 years of increasing managerial responsibility. He applied his innate mechanical aptitude to the design and continuous improvement of pressure pumping equipment, coiled tubing, downhole tools and related processes and services. Following the take-over of Nowsco by BJ Services Company in 1996, Mr. Luft was recruited to assemble an executive team to refinance Trican Well Service (then, a relatively small private company) as a public company. Along with his executive teammates, Don took a company with an opening $8.0 million market cap, to a peak of well in excess of $2.0 billion. Though he retired in 2016 as President and Chief Operating Officer, the company’s operations still reflect his demand for excellence.
Mr. Luft has also been appointed Chair to the Corporation’s HSE Committee.
Ken Bagan, Chairman of the Board, says; “We are delighted to have Don Luft join our board. His executive and operational experience in the service industry will be invaluable as Divergent moves into its next growth phase.”
ABOUT DIVERGENT ENERGY SERVICES CORP.
Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of artificial lift products and services that are used in the oil and gas industry, including its revolutionary Linear Electric Submersible Pump. Divergent’s Pump is approaching commercialization and is targeted to replace traditional oil pumpjacks. Other Divergent products currently in use by its oil and gas industry customers include Electric Submersible Pumps and Electric Submersible Progressing Cavity Pumps.
The Corporation’s long-term strategy is to be a premier supplier of submersible pumping products that increase production, reduce operating costs, improve energy consumption and reduce carbon footprint. The commercialization of our Linear Pump will provide oil companies with the opportunity to capitalize on these benefits, while differentiating Divergent within a competitive and growing market.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and Chief Executive Officer
Scott Hamilton
Chief Financial Officer
DIVERGENT Energy Services Corp.
1500, 715 – 5th Ave SW, Calgary, AB T2P 2X6
(403) 543-0060
(403) 543-0069 (FAX)
www.divergentenergyservices.com