The board of KCA Deutag has appointed Joseph Elkhoury as its new CEO effective July 1, 2019.
Elkhoury takes over from Norrie McKay who has confirmed his intention to retire later this year. Norrie will remain with the group in an advisory capacity until December 31 2019, working closely with Joseph to ensure a smooth transition.
Joseph brings with him 26 years of experience in a wide variety of operational and leadership roles in the oilfield services industry. Most notably he spent 21 years with Schlumberger Ltd. and during his time there he held a number of senior positions and had responsibility for several of Schlumberger's businesses including microseismic services, production services, information solutions and global supply chain.
Most recently Elkhoury was an operating partner, focusing on investment opportunities in the energy technology sector, at Apollo Global Management LLC, one of the world's largest alternative investment managers. He is also currently chairman of the board of Express Energy Services, one of its portfolio companies.
Originally from Lebanon, Elkhoury has a degree in electrical engineering from the American University of Beirut.
“We are extremely pleased that Joseph is joining KCA Deutag. He brings with him an impressive range of international experience and a deep understanding of the dynamics of our market which we believe is essential as we take KCA Deutag into the next phase of its development,” Bob Ellis, KCA Deutag chairman, said.
Final phase of the NGL Pipeline remains on schedule and construction of the Crude Pipeline begins this month.
Stallion Oilfield Services completed the acquisition of Basin Wastewater Solutions, a Carlsbad, N.M.-based provider of rig site potable water and wastewater recycling services for the Permian market.
Pinnacle also began construction of a crude oil stabilization facility capable of stabilizing up to 5,000 barrels per day, which could be expanded as needed to meet customer demand.