STEP Energy Services Ltd. announces management changes

CALGARY, Alberta, Sep 27, 2021 (GLOBE NEWSWIRE) – STEP Energy Services Ltd. (“STEP”) is pleased to announce the appointment of Mr. Klaas Deemter as Senior Vice President Finance (“SVP Finance”) of STEP as of October 2021. As SVP Finance of STEP, Mr. Deemter will work with STEP Executive Vice President and CFO Michael Kelly on a leadership transition plan that will see Mr. Deemter take initial responsibility for strategic initiatives with a plan to succeed Mr. Kelly as chief executive. financial statements of STEP during the publication of the financial statements for the third quarter of 2021 of STEP. With the appointment of Mr. Deemter as Chief Financial Officer, Mr. Kelly, whose retirement was announced in June, will assist STEP in an advisory capacity throughout the fourth quarter to allow for an orderly transition period.

Mr. Deemter comes to STEP with significant financial experience after having progressively held leadership roles at Trican Well Service Ltd., most recently as Interim Chief Financial Officer. Mr. Deemter holds a Bachelor of Management degree from the University of Lethbridge and is a member of the Institute of Chartered Professional Accountants of Alberta.

Regan Davis, CEO of STEP, said: “I am delighted to welcome Klaas to the STEP team and look forward to putting his vast experience in finance and his passion for the petroleum services industry to work as We continue to deliver on our promise to deliver exceptional customer experience. I would also like to personally thank Mr. Kelly for his dedication to STEP and wish him good luck in his future endeavors.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). These statements relate to management’s expectations regarding future events, results of operations and future performance (both operational and financial) and business prospects of the Company. All statements other than statements of historical fact are forward-looking statements. Use of any of the words “plan”, “will” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements included in this press release are reasonable, such statements do not constitute guarantees of future performance or results and may prove to be incorrect and should not be unduly relied upon.

In particular, this press release contains forward-looking statements regarding the new role of Mr. Deemter, the retirement of Mr. Kelly and the succession of Mr. Deemter as Chief Financial Officer of STEP.

The forward-looking information and statements contained in this press release speak only as of the date of the document, and none of STEP or its subsidiaries assumes any obligation to update or revise them publicly to reflect new events or circumstances, except as necessary. in accordance with applicable laws. The reader is cautioned not to place undue reliance on forward-looking information.

ABOUT THE STAGE

STEP is an oilfield services company that provides stand-alone and fully integrated fracturing, coiled tubing and cable solutions. Our combination of modern equipment and our commitment to safety and quality of workmanship have differentiated STEP in areas where wells are deeper, have longer side pipes and higher pressures.

Founded in 2011 as a high capacity coiled tube company, STEP now provides an integrated solution for coiled tube and high capacity fracturing services to exploration and production (“E&P”) companies in Canada. and the United States. Our Canadian services are concentrated in the WCSB, while in the United States our services are concentrated in the Permian and Eagle Ford basins in Texas, the Uinta-Piceance and Niobrara-DJ basins in Colorado and the Bakken in North Dakota.

For more information please contact:

Regan davis
Chief Executive Officer
Michael kelly
Executive Vice President and Chief Financial Officer
Telephone: 403-457-1772

Web: www.stepenergyservices.com

Telephone: 587-393-9731


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