DENVER; October 16, 2018 - Intrepid Potash, Inc. (NYSE:IPI) ("Intrepid") today announced the appointment of Alex Wagner as Vice President of Business Development - Oilfield Services. In this position, Mr. Wagner will be tasked with escalating the growth of Intrepid's water, heavy brine, high-speed potassium chloride mixing, salt water disposal, and trucking service lines. Centralizing the management of these products and services is an important step towards Intrepid's previously announced intent to grow its oilfield services organically and through potential complementary acquisitions.
"Building on the momentum we have created for our oilfield products and services, we are now sharpening our focus on accelerating the growth path of these higher margin offerings," said Bob Jornayvaz, Intrepid's Executive Chairman, President and CEO. "Alex's vast oil and gas industry experience make him an ideal fit to lead this business unit as we refine our strategy to grow the business organically. Further, by adding his mergers and acquisitions experience to the team, we enhance our ability to pursue acquisitions designed to create further product synergies throughout the business. We are excited to welcome Alex to the Intrepid team."
Mr. Wagner will join Intrepid from Phenix Energy Partners, LLC, where, as Managing Member, he advised on low to mid-market equity-backed oil and gas acquisitions and acted as subject matter expert across several oil and gas disciplines. Previously, Mr. Wagner served for a combined 15 years in a series of positions with increasing responsibility at Halliburton and BJ Services. In these roles, Mr. Wagner's responsibilities included, among other things, acquisition advisement, business development and sales. Mr. Wagner's broad background includes experience in drilling, completion, and production activities, and extensive work in fracking, salt water disposal, and water handling and treatment.
Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt and water products essential for customer success in agriculture, animal feed and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine and various oilfield services.
Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio® mine.
Intrepid routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Relations tab. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts or RSS feeds for new postings.
Matt Preston, Investor Relations
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Source: Intrepid Potash Inc via Globenewswire