Oil Servicing Companies Must Retrench, Innovate to Survive
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Oil Servicing Companies Must Retrench, Innovate to Survive
By Jonathan Bushnell, Director & Joseph D’Angelo, Partner, Carl Marks Advisors
In the past five years nonconventional U.S. oil production has increased more than six-fold and by the end of 2014 had achieved the highest production levels of U.S. crude in 41 years. This explosive growth was fueled by the doubling of exploration and production (E&P) capex in extraction...
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Jon Bushnell has more than 13 years of capital markets experience, including operational performance improvement, M&A transactions, capital raising, restructurings, strategic planning, and valuations. He has worked with clients across a wide range of industries, including oil & gas, real estate, consumer products, manufacturing, business services, for-profit and non-profit education, and healthcare. Bushnell recently completed successful operational and financial restructurings in the fracking industry for Environmental Drilling Solutions and for a confidential oil & gas drilling equipment manufacturer.
Joe D’Angelo is a partner at Carl Marks Advisors and has more than 20 years of experience improving underperforming businesses and advising companies and lenders in complex restructuring matters. He has served in various roles, including CRO, CEO, COO, CFO, and advisor. His engagements have encompassed turnarounds, operational and financial restructurings and assessments, M&A, due diligence and assessments, and Chapter 11 reorganizations and Section 363 sales. D’Angelo holds a bachelor’s degree from Columbia University and an MBA from The Wharton School of the University of Pennsylvania.
