Newly appointed Jason Broussard to lead global growth

Broussard will play a critical role in driving company growth, continuing to create operational and technical excellence in P&A scenarios using Abrado’s patented dual string section milling technologies. Jason joins Abrado from Wellbore Fishing & Rental Tools where he was Senior Vice President of Operations. Prior roles include four years with Schlumberger as Director of Operations for North America and Global Product Line Manager for Wellbore Intervention Technologies. He also held Baker Hughes management positions over an 11-year period, latterly as Regional Operations Manager for Lower Completions in the Gulf of Mexico.

Said Broussard: “It is undoubtedly a challenging time for the energy industry, with many operators opting to shut down aging wells. Plug and abandonment is complex, and operators need innovations that de-risk P&A operations, whilst maintaining efficiency and cost-effectiveness”.

The addition of Broussard’s strong credentials and technical background is a clear signal of Abrado’s plans for continued growth as it implements established drilling engineering and optimization methodologies to drive down P&A costs and deliver value to operators around the world.

Abrado Chairman, Martyn Fear, commented: “Jason brings a wealth of industry experience and technical know-how to the role. This, in addition to his dedication, passion for innovation, proven leadership capabilities and the ability to address industry needs, ideally positions him to take the reigns as President and CEO. I am looking forward to working with Jason to grow the business and continue to bring revolutionary section milling tools to the global market.”

Matt Anstead, prior Interim CEO notes: “At EV Private Equity we are proud to back world-class technology companies such as Abrado, companies that make an impact in the energy sector and reduce greenhouse gas emissions. Abrado, unique in the world with a successful track record of dual string section milling, is a great example of this.” Anstead is a Senior Partner at EV Private Equity and an Abrado Director.