Flotek hires RGP’s Elizabeth Wilkinson as new CFO

01 January 2019 Authored by Consulting.us

Oilfield services and equipment firm Flotek Industries has appointed former RGP Managing Consultant Elizabeth Wilkinson as their new chief financial officer. Wilkinson has over 30 years of accounting and corporate finance experience.

Founded in 1985, Houston-based Flotek manufactures and markets the specialty chemicals used by oilfield services companies, as well as drills and pumps. The company has over 300 employees and reported $317 million in revenues last year, for a net loss of $27 million.

The firm has now brought in Elizabeth Wilkinson, a senior-level finance executive with deep expertise in the energy industry, to serve as their new CFO. She will be based in Houston and will report to Flotek President, Chairman, and CEO John W. Chisholm.

Before joining Flotek, was a Managing Consultant at Irvine, CA–based RGP (Resources Global Professionals), a finance-focused global consultancy. In her seven years at the consulting firm, she led financial advisory projects for numerous Fortune 500 and private-equity-controlled clients, including those undergoing significant financial transitions. In this capacity, she served as Interim CFO for an oil & gas exploration & production public company, was Interim Treasurer for a large cap energy services public company, and was Interim Senior Controller for an international manufacturer, among other high-profile finance roles.

Elizabeth Wilkinson - CFO Flotek

Wilkinson’s areas of expertise stretch from strategy and M&A to risk management, tax & compliance, and technical accounting and controllership. Before her time at RGP, she was CFO at Xtreme Drilling and Coil Services, an international oil & gas drilling firm. At Xtreme, some of Wilkinson’s accomplishments included issuing $50 million in equity and raising $100 million in debt amid challenging market and company circumstances; rebuilding the accounting organization; playing a central role in establishing operations in Mexico and Saudi Arabia; and significantly improving financial reporting.

Before that, Wilkinson was a Vice President of Investor Relations and Treasurer at Eagle Rock Energy Partners and a Vice President and Treasurer at Kerr-McGee Corporation. Prior to that, she spent 17 years with offshore driller GlobalSantaFe in various accounting and corporate finance positions.

Wilkinson holds an MBA in finance from the University of Florida, as well as a BSBA in management science and operations research from the same institution. She is a licensed CPA in the State of Texas.

"Elizabeth is a strong and experienced executive who has served in diverse leadership roles for E&P, energy service, and midstream organizations, ranging from CFO to controller to vice president-investor relations and treasurer," commented Chisholm. "We welcome the tremendous strengths she brings to help deliver value to all of our stakeholders by expanding our market penetration through differentiated chemistry technology, strengthening our balance sheet and managing general and administrative costs to deliver positive operating cash flow."

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