Leadership

Mr. Powell has been a member of the board of directors since May 3, 2022, and was appointed Chief Executive Officer on June 3, 2022. Mr. Powell’s business acumen is backed by first-hand knowledge of all aspects of the industry after working his way up from driving trucks to growing his family’s company, H.L. Powell Ltd., into a large and diversified oilfield services company that was sold to Producers Oilfield Services Inc. in 2005.

Mr. Powell’s 40+ years of operational and executive experience also includes prior roles as Chairman of the Board and President of Producers Oilfield Inc., Co-Chief Executive Officer and a director of Mullen Transportation Inc., and Chairman and Chief Executive Officer of Bonnett’s Energy Corporation. Mr. Powell has also served as a director of a number of other private and public-companies, including Canyon Technical Services Ltd. and Clarke Inc.

Prior to joining the Company in 2006, Mike gained significant financial management experience with prominent multi-billion dollar global companies in the exploration and production as well as midstream sectors of the energy industry. Before being named Calfrac’s Chief Financial Officer, he held the roles of Corporate Controller and Vice President, Finance at the Company where he led all aspects its finance function. Mike began his professional career in the public accounting profession with PwC and has a Bachelor of Commerce degree from the University of Calgary and is a member of the Institute of Chartered Professional Accountants of Alberta.

In 2020, Gord was appointed President of Calfrac’s Canadian Division. One of Calfrac’s original employees, Gord started with the company in 1999 as a District Manager.

Between 1999 and early 2018, Gord took on roles of increasing responsibility with the Canadian Division and was instrumental to establishing Calfrac in the Canadian market. On February 9, 2018, Gord was appointed Vice President of Operations (Canada), a role he held until he accepted the division president role. Prior to joining Calfrac, Gord worked in a variety of operations and management roles for Canadian Fracmaster (later acquired by BJ Services). Gord complements his more than 30 years of operational and leadership experience with a Management Development Certificate and Calfrac Leadership Program Certificate, both from the University of Calgary.

Marco was appointed President, United States Operations in September 2024. Marco joined Calfrac in 2010 as Country Manager for the company’s Mexico Business Unit and held various other roles of increasing responsibility, including Director General of Calfrac’s Argentina Division since 2019.

Before joining Calfrac, Marco held senior management positions at Weatherford International including Mexico Business Unit Manager and District Manager (Barnett Shale). From 2001 to 2007 he was a Field Service Manager for Schlumberger. Marco is a Chemical Engineer graduate (2001) with a Petroleum and Petrochemical Process focus. He holds an MBA (2017) from Baylor University and completed Calfrac’s Leadership Program (University of Calgary).

Adrian was appointed Director General, Argentina Division in September 2024. Adrian joined Calfrac in 2008 as the District Manager in Reynosa, Mexico and transferred to the Argentina Division in 2017 where he has contributed significantly through various positions, most recently as the Senior District Manager in Neuquén where is was responsible for Calfrac’s operations in the Vaca Muerta shale play. Adrian has over thirty years of oilfield experience, and before joining Calfrac he held various leadership and operational roles at B.J. Services, Schlumberger and Halliburton Energy Services.

Mr. Mathison is one of the Company’s founders and has served as a member of the board of directors and as Chairman of the Company since its formation in 1999. Mr. Mathison is also the President and Chief Executive Officer of Matco Investments Ltd. and Matco Capital Ltd., private investment firms which specialize in providing capital and management expertise to companies in which they have an interest. Mr. Mathison has extensive experience in restructuring and financing companies in both the public and private markets. Until October 2000, Mr. Mathison was a director and principal of Peters & Co. Limited, an investment firm specializing in the oil and natural gas industry. Prior thereto, Mr. Mathison and two other individuals formed the nucleus of Peters & Co. Capital, a private merchant banking entity that is widely associated with numerous restructurings of oil and natural gas exploration and production companies and oilfield service companies. 

Mr. Ramsay is a founder and the Vice Chairman of the Company, and he has served as a member of the board of directors of the Company since its formation in 1999.  Mr. Ramsay also served as President and Chief Executive Officer of the Company from its inception to November 1, 2010 and as Chief Executive Officer from November 1, 2010 until December 31, 2013.  Mr. Ramsay has an extensive background in the oil and natural gas industry.  Prior to 1994, Mr. Ramsay was the President of Canadian Fracmaster Ltd., where he spent 12 years enhancing the overall presence such company in Canada and worldwide.  Previous industry experience as a Project Manager for Delta Consultants, Drilling and Completions Foreman for Dome Petroleum Corp., and Service Operator for BJ Well Services Company has contributed to Mr. Ramsay’s overall knowledge of the industry.

Mr. Duggal is a private investor and board member with significant institutional investing experience in the global energy sector. He was a partner at 3G Capital, a global multi-billion dollar asset manager, where he helped launch, manage, and grow a natural resource focused equity and credit fund. Prior to that, he was an investor with Goldman Sachs Investment Partners, which was the Asset Management division’s flagship hedge fund. Mr. Duggal is also an Adjunct Professor for the MBA program at Columbia Business School, where he teaches value investing courses through the Heilbrunn Center for Graham & Dodd Investing. Mr. Duggal is also board member of Optiva Inc. (TSX: OPT) and PrairieSky Royalty Ltd. (TSX: PSK).

Mr. Pellerin is a Chartered Public Accountant and is the Principal Partner and President of one of the largest independent accounting firms in Quebec, Pellerin Potvin Gagnon S.E.N.C.R.L., which he joined in 1998, became Partner in 2003 and was promoted to President in 2006. Mr. Pellerin specializes in many areas including:- mandates of assurance, counseling, management, financing, acquisition and sale of business and audit engagements for several manufacturing companies and distributors. Mr. Pellerin is also the owner of several privately owned manufacturing businesses and owns residential, commercial and industrial properties throughout Quebec. Mr. Pellerin holds a Bachelor degree in accounting from Ottawa University and a post graduate diploma in accounting from the University of Trois-Rivieres, Quebec, and has been a member of the Quebec Order of the Chartered Accountants since 2000. Mr. Pellerin is also a director of Clarke Inc. (TSX: CKI) and the Executive Chairman of Terravest Industries (TSX: TVK).

Mr. Mehta is a private investor with over fifteen years of institutional investing experience in the global oil and gas industry. He remains an active investor in the North American energy sector through his multi-strategy investment firm, KD Energy Holdings. Mr. Mehta previously held senior energy research positions at several large investment firms, including Samlyn Capital, MSD Capital and TPG-Axon Capital. Mr. Mehta began his investing career in private equity at the Texas Pacific Group in London. Mr. Mehta graduated Magna Cum Laude from the Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics.

Mr. Armoyan has been a member of the board of directors of the Company since December 18, 2020, and acted as interim Chief Executive Officer of the Company from December 17, 2021 to June 3, 2022. Mr. Armoyan is also Executive Chairman of G2S2 Capital Inc., President of Armco Capital Inc., and Executive Chairman, President & Chief Executive Officer of Clarke Inc. Mr. Armoyan is an entrepreneur with extensive experience in real estate and various industries. Since 1982, Mr. Armoyan has successfully founded and grown numerous businesses, created shareholder value at several public companies through restructuring operations by applying a commonsense approach to business. 

Mr. Armoyan also serves on the board of Clarke Inc. (TSX:CKI), Slate Office REIT (TSX: SOT.UN) and Morguard Corporation (TSX: MRC).

Mrs. Benson is an independent businessperson with a Chartered Public Accountant designation and the former Vice President, Finance and Chief Financial Officer of Peters & Co. Limited, a registered investment dealer, from 1999 to 2020.  Prior to, Mrs. Benson served as Controller of Peters & Co. Limited, and prior to that she held various audit and accounting positions at Ernst & Young LLP.  Mrs. Benson has her ICD.D designation from the Institute of Corporate Directors, currently serves as a director and Chair of the Audit Committee of Rubellite Energy Inc. (TSX: RBY), a crude oil exploration and development company, and has served on various industry committees and boards, including as a director of the Investment Industry Regulatory Organization of Canada (IIROC) from 2015 to 2021.

Mr. Powell has been a member of the board of directors since May 3, 2022, and was appointed Chief Executive Officer on June 3, 2022. Mr. Powell’s business acumen is backed by first-hand knowledge of all aspects of the industry after working his way up from driving trucks to growing his family’s company, H.L. Powell Ltd., into a large and diversified oilfield services company that was sold to Producers Oilfield Services Inc. in 2005. Mr. Powell’s 40+ years of operational and executive experience also includes prior roles as Chairman of the Board and President of Producers Oilfield Inc., Co-Chief Executive Officer and a director of Mullen Transportation Inc., and Chairman and Chief Executive Officer of Bonnett’s Energy Corporation. Mr. Powell has also served as a director of a number of other private and public-companies, including Canyon Technical Services Ltd. and Clarke Inc.