Aug 21, 2007
RigNet Elects Michael Press as Director
HOUSTON, TX - August 21, 2007 - RigNet, Inc., a leading global provider of managed communications solutions for the upstream oil and gas industry, announced today that its shareholders have elected Michael W. Press to its Board of Directors.
Press has spent twenty-seven years in the energy industry in various senior management and executive positions that have encompassed all aspects of the integrated petroleum and other natural resources businesses as well as most corporate staff functions. Seventeen years were with The Standard Oil Company where he was Vice President of Corporate Planning and later Senior Vice President of Crude Trading and Transportation. Following that he worked for British Petroleum plc where he was Controller and later, Senior Vice President, Manufacturing and Supply. He also worked for Amerada Hess Corporation where he was Executive Vice President, Refining and Marketing and a member of the Board of Directors.
Press served as Chief Executive Officer of KBC Advanced Technologies plc, an international petroleum consulting firm listed on the London Stock Exchange from April 1998 through March 2001. A member of the National Association of Corporate Directors, Press is currently a member of the boards of Petrofac Ltd., T3 Energy Services, Chart Industries, and is Chairman of TWMA, a private oil service company involved in drilling waste management. A native of Salt Lake City, Utah, he received his undergraduate degree in Mathematics in 1969 from Colorado College. He also holds a Masters degree in Operations Research from Columbia University where he was awarded membership in Tau Beta Pi, the engineering national honorary academic fraternity. He also attended the Stanford University Executive Program.
HitecVision partner Gunnar Halvorsen, director of and largest investor in RigNet, said, "we are certainly pleased to bring a person with Michael's depth and breadth of experience to RigNet's board. His counsel will be invaluable as the Board works with senior management to shape strategy and continue RigNet's profitable growth."
Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses the leading satellite and networking technologies to provide high-quality solutions for broadband data, voice and video communications, as well as real-time data management. RigNet installs, manages and supports communication systems without requiring its customers to invest in and manage expensive telecommunications equipment, allowing them to redirect valuable resources to their core businesses.
RigNet, Inc., is a leading global provider of managed communication services exclusively to the upstream oil and gas industry. The Company holds the prestigious Cisco Powered Network designation, meeting the most stringent standards for network reliability and performance, and was recently named one of America's fastest-growing private companies as ranked in Inc. Magazine's distinguished Inc. 500. RigNet has worldwide installations throughout 21 countries and 6 continents, spanning the global offshore drilling and production industry. Based in Houston, Texas, RigNet has offices in Louisiana, Brazil, Malaysia, Nigeria, Norway, Qatar, Saudi Arabia, Singapore, UAE and the UK. For more information, please visit http://www.rig.net/.
