HOUSTON, January 15 /PRNewswire/ --
IDM Group, designers and manufacturers of world-class drilling systems for the international energy industry, today announces that it has named Byron Dunn as Chief Executive Officer of the company. Mr. Dunn brings to the company broad and unique experience in the global energy sector, most recently at Harvest Natural Resources and National Oilwell, and he will use that experience to further expand IDM's global operations. IDM Group provides complete land rig packages and rig equipment to the oil and gas industry from its primary facilities in Houston and Stryi, Ukraine. Mr. Dunn will initially be based in Houston.
Tom Bates, Director of IDM Group and Managing Director of Lime Rock Partners, said, "I am very excited about Byron joining the team at IDM. Even in his short time with the company, his energy and impact have already been felt. With his diverse and proven track record of success in the sector, he will bring leadership to our already accomplished team."
Byron Dunn added, "I am grateful to all the directors of IDM for giving me this opportunity to lead the company. IDM has an extraordinary global team and a unique set of assets that will allow it to continue to be a nimble fast-growing competitor in the industry. IDM is already providing its innovative and cost-effective drilling equipment to customers worldwide, and I'm eager to help our team further serve our existing customers and win new satisfied customers for IDM products."
Mr. Dunn was the Senior Vice President of Corporate Development for Harvest Natural Resources and served as Chairman of Harvest's Russian and Chinese subsidiaries from September 2005 through November 2007. From 2003 through 2005, Mr. Dunn was Vice President, National Oilwell, Inc. In that capacity, he chaired the National Oilwell/Varco integration team, served as President of Eastern Hemisphere Rig Solutions, and Chairman of the Board of TTS Marine ASA, a Bergen, Norway-based ships' equipment manufacturer. From 1997 to 2003, Mr. Dunn held increasingly responsible roles in the UBS Global Energy and Power Group, first serving as Oilfield Service Research Global Sector Coordinator and later as Executive Director in the Energy Investment Banking Group. Earlier in his career, Mr. Dunn worked in managerial and engineering roles at Phibro Energy and Chevron. He is a member of the Board of Directors of Citizens National Bank and Particle Drilling Technologies, Inc.
IDM Group, headquartered in Cyprus, is a global supplier of capital equipment to the oil and gas industry. It currently supplies drilling rigs and integrated drilling systems from its IDM Equipment manufacturing facility in Houston and its IDM International manufacturing facility in Stryi, Ukraine. For more information, please visit www.idmgroup.com.
Web site: http://www.idmgroup.com
Margaret Starr of IDM Group, +1-281-598-4444
