Hendricks to lead Patterson-UTI upon Wall’s retirement
William Andrew Hendricks Jr will join Patterson-UTI Energy as chief operating officer on 2 April, the company announced today. Mr Hendricks comes from Schlumberger, where he has served since 2010 as president of the Drilling and Measurements division. In addition, Patterson-UTI announced that Doug Wall, president and chief executive officer, will retire later this year. It is expected that Mr Hendricks will assume the position of president and chief executive officer upon Mr Wall’s retirement.
“Andy’s vast experience successfully managing diverse businesses – businesses with technology and geographic challenges – demonstrate his ability to lead and manage. We believe this experience and leadership ability make him the right person to help us execute our current strategic plan of continuing to grow our two core businesses – land drilling and pressure pumping in North America,” Mark Siegel, Patterson-UTI chairman, said.
He said of Mr Wall’s retirement: “We greatly appreciate the excellent leadership that he has provided; during his tenure, our company has made enormous strides. Our APEX rig programs, which numbered six rigs when he arrived, now stand at 94 new APEX rigs. Within our overall fleet of approximately 330 marketable rigs, we now have approximately 150 that are highly capable of drilling shale and other unconventional plays. Moreover, during his tenure, we have more than quadrupled our pressure pumping fleet and significantly expanded the geographic footprint of our pressure pumping business.
Mr Wall will continue as CEO until his retirement later in the year and will remain as a consultant for two years to ensure a smooth transition
Mr Hendricks received a bachelor of science degree in petroleum engineering from Texas A&M University in 1987. He also completed executive finance training at IMD in Switzerland in 2008. Mr Hendricks started his career working for Ocean Drilling and Exploration Company as a roustabout and roughneck on the Ocean Spur jackup in the Gulf of Mexico.
