Nine Energy Service Inc. (NYSE: NINE) said Dec. 4 that David Crombie has been promoted to serve as the Houston-based oilfield service company’s COO and executive vice president.
Crombie, who previously served as president of completion solutions and executive vice president at Nine, brings over two decades of experience to his latest role at the company.
“I am thrilled to announce David’s promotion to the role of chief operating officer and working side-by-side with him to continue to build Nine,” said Ann Fox, president and CEO of Nine, in a statement.
Crombie’s promotion follows the recent acquisition of Magnum Oil Tools by Nine for about $493 million in cash and stock.
“His ability to lead through both periods of activity decline, while also capturing growth in a measured and profitable way is extremely rare,” Fox said. “His leadership qualities and expertise are essential to guiding Nine to continued growth and I look forward to the impact he will have in this new role.”
Before joining Nine, Crombie founded Crest Pumping Technologies LLC where he served as president. Prior to Crest, Crombie served as vice president of operations and sales for Pumpco Energy Services, a wholly owned subsidiary of Complete Production Services (now part of Superior Energy Services Inc. (NYSE: SPN). In this role, he oversaw stimulation and cementing services in prolific, unconventional plays throughout the continental U.S.
Effective Jan. 1, Crombie will be responsible for overseeing operations across all of Nine’s service lines and geographies. He will also play a critical role in the continued development and execution of Nine’s strategic growth plan.
Nine offers completion and production solutions with operating facilities in the Permian, Eagle Ford, Scoop/Stack, Niobrara, Barnett, Bakken, Marcellus, Utica and throughout Canada.
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The investment is about $300 million less than the company forecast in May and includes reductions resulting from Alberta’s mandated oil production cuts.