PHX Energy Services Corp. announced that Michael Buker has been promoted to the position of President and John Hooks will continue as Chief Executive Officer (CEO) of the Corporation. Mr. Buker previously held the position of Senior Vice President of North America, and has been with the Corporation for 17 years, 10 of which having served as a member of the executive team.

Mr. Buker has made a significant contribution to PHX Energy's growth and success throughout his career. He has influenced all regions of the Corporation starting out in Canadian sales, then initiating the Corporation's international expansion, and then leading PHX Energy's growth in the US. Mr. Buker truly embodies the culture of PHX Energy and understands the importance of long term client relationships.

In addition, Mr. Buker has the technical and operations expertise to continue the Corporation's successful track record. His strategic leadership will be an asset in propelling the Corporation forward in the future. Mr. Hooks will continue to be an active member of the executive team, providing guidance and support for all strategic initiatives and operational growth.

Mr. Hooks, the founder of the Corporation, has had the pleasure of occupying the joint role of President and CEO over the past 20 years, and although his passion and commitment have not waned, he believes it is the right time in the Corporation's evolution to provide Mr. Buker the opportunity to lead the next chapter in PHX Energy's history. Mr. Hooks and Mr. Buker will continue to work closely with the entire management team to navigate PHX Energy through the challenging year ahead while focusing on delivering superior operational performance and solid financial results over the long term.