Nine Energy Services has appointed Guy Sirkes as its CFO, replacing Clinton Roeder, with immediate effect. Mr Sirkes joined the company in March 2019 as the VP, Strategic Development. Prior to that he was with JP Morgan’s Oil & Gas Investment Banking Group.
Mr Sirkes will have a base salary of $380,000 and be eligible for a target bonus of 80% of base salary. These are the same terms that Mr Roeder had.
Mr Roeder was appointed as CFO in December 2017, a month before Nine went public at $23 per share. He replaced Doug Aron, who became the CFO at Nine in April 2017 but left after five months for the same role at Archrock, another Houston public company. Mr Aron is still employed there.
Mr Roeder will receive a severance of $684,000. This comprises one year’s salary plus one year’s target bonus. The severance will be paid over 12 months.
Nine, which provides onshore completion and production services, has its head office in the River Oaks area of Houston. The company currently has a share price of 81 cents and a market capitalization of $23 million.